Thank you so much, JJ, you are such a fantastic source on this case. The REV-1547 is interesting, but one can specifically ask to have taxes handled on joint accounts separate from this form, I would think if privacy was a concern that could occur - so it is not necessarily conclusive. The large estate expenses are interesting especially with nothing listed.
One way or the other, this info is interesting to me. Either he truly had nothing to report or there are other accounts they handled differently, with other methods. The first is very curious, the second would merely be a personal choice, I would think.
Thanks so much, again. Keep looking, keep posting!
There was no single source of income (other than RFG's salary) in
2004 above $1300. CD's were running about 2%, so the total amount would have been about $65 K or less.
2005, interest went up and nothing was reported. Granted, he could have put a huge amount of money in a checking account, but that would be incredibly stupid.
The estate would have had several large expenses:
1. Filing for the trusteeship (which is not the correct name).
2. Setting up the reward fund.
3. Filing the declaration of death.
You could easily be talking about $1-2 K for each.
LG also indicated that she had to pay his insurance premiums. Assuming that was life insurance (since he wasn't known to have a car, property, and wasn't getting medical treatment) that could $500-$1000 per year, easily, and this was six years. The expenses could be credited against the estate, even if the occurred years before.
Except for interest, which was less than $1,300 in 2005, the estate would
not be generating income.
It could be a number of things:
A. Estate planning, and putting a lot of money out of his reach.
B. Really bad investments.
C. Spending a lot of it.
D. Moving it off shore.
It does not point to retirement planning, at least that I can see (and correct me if I'm wrong on that).