What I am about to tell you is something that, unfortunately, I
have seen somewhat more than seldom over the past 17 years serving
the financial needs of individuals. In this sensitive and
precarious predicament, there are six hypothetical characters.
What I am about to tell you is something that, unfortunately, I have seen somewhat more than seldom over the past 17 years serving the financial needs of individuals. In this sensitive and precarious predicament, there are six hypothetical characters.
First is Mrs. Green, a real lady of southern roots. A 93-year-old widow of two weeks, Mrs. Green is sharp as a tack and sweet as a plum, such a glistening combination for an elderly woman who has lost not only most of her eyesight but also her ability to walk.
Second, we have Mr. Green, who unfortunately, passed away. Mr. Green served more or less as Mrs. Green’s caretaker in many ways. He too was acute and alert, with a nimble and knowing demeanor. At 89, he sported an average bowling score of 172, still drove his Lincoln with precision and helped Mrs. Green with most everything in her everyday life. Hence, Mrs. Green needed no other care than what Mr. Green provided.
Third, we have Dan Spikes, Mrs. Green’s nephew. who lived across the country in the muggy southeast. Dan was in his 70s and was Mrs. Green’s perfect complement with regard to the Greens’ business affairs. His duty was that of a lookout, and he was a little like Secretary of Defense Donald Rumsfeld, the last person you would ever want to cross. From finances to food supply, Dan Spikes kept a watchful eye on all of the Greens’ affairs.
Next, we have 29-year-old Stacy, the Greens’ granddaughter, who lives about 1,200 miles north of their Bay Area home. Stacy is single and supports her two young sons and her drug addiction compliments of state welfare and a sizeable monthly wage from the sweat of the Greens. Interestingly, this stipend has steadily increased in direct proportion to the Greens’ ages. Stacy has been her grandparents’ non-spoken-about thorn in the side for quite some time. They have been caught up in the unfortunate paradox of love. They were still lucid enough to realize the self-imposed sad state of Stacy’s life, but have been manipulated to the point of blind murkiness with respect to their decisions in this matter.
Then we have Mr. Attorney. John is a very sweet 76 years old, but surprisingly spry. Like most estate-planning attorneys, John is most interested in the best interests of Mrs. Green, who has found herself in a difficult predicament with the passing of her husband.
Lastly, enter me. I have handled the investments for the Greens for years and I very much loved and respected them. They were genuinely good people who just wanted the people handling their affairs to be trustworthy. Needless to say, so did nephew Dan Spikes. Dan and I have always had an excellent working relationship, as have attorney John and me.
As you may have surmised from the above character descriptions, the problem is manifested through Stacy, the granddaughter. You see, there is no other young relative who keeps in touch with the Greens. Any other youthful kin have little if any knowledge of the net worth of the Greens, but Stacy, being the most cunning and desperate, I discovered had long ago found a way into Mrs. Green’s large black binder where she keeps the same detailed financial information that was required of well-to-do people 75 years ago – handwritten records. This articulate notebook consists of years of Mrs. Green’s every cent of interest earned and every penny spent. Amazingly, this financial record would be a godsend to even a successful 40-year-old today. Sadly, it has been the catalyst for Stacy’s monthly handouts.
Stacy has not made a legitimate attempt to get her life together. Of no help was her most immediate human life example, which was her recently deceased mother. At age 55, her mother died of a drug overdose. The Greens had tried to help her with the same method of financial assistance, but instead of using their love and generosity to better herself, she parlayed her life into oblivion. This does not excuse Stacy’s actions, but it does not help her, either.
Very recently, there was a meeting between Mrs. Green, nephew Dan, attorney John and me. In this three-hour meeting, we discussed Mrs. Green’s life and how we could help her in our respective roles. We discussed topics ranging from her monthly interest income (me) to living arrangements (Nephew Dan) to new codicils in her will (John). Every one of us was intense within our own personalities and professions in attempting to provide Mrs. Green the best possible advice for her future.
On into the meeting, she said angelically, “You are the three people in my life that I really trust.” That meeting was one that I will always remember – three important businessmen in Mrs. Green’s life became caring partners in the soul of a fine, truly magnificent, tender-hearted woman.
Some however would say too tender-hearted. Still, Mrs. Green insisted on providing Stacy not the same monthly paycheck, but one about three times larger. Unlike most of you and me, no income or unemployment taxes were withheld.
Nephew Dan, an extremely sophisticated and curt person, nearly gagged in disbelief. He knew, though, that for the best interests in the life of his aunt, he had to hold his tongue. Even though her granddaughter was taking Mrs. Green for a proverbial “ride,” her health and happiness was more important than a small portion of her wealth being vacuumed right down the chute of despair.
Whether or not Mrs. Green’s years of unconditional love and generosity ever touches Stacy’s life in the manner in which it was hoped, Mrs. Green would most certainly be crowned a “good and faithful servant.”
Jeff Welch helps individuals and small businesses with long-term investment planning. He is a registered representative of, and securities offered through, Financial Network Investment Corporation, member SIPC. His office is located at 339 Seventh St. in Hollister. Phone 630-1525.
