Treasure Hoard Found by Public Administrator in Nevada

December 19th, 2012

The Associated Press reported a story about a public administrator who found about 7 million dollars worth of assets hiding in a decedent's home. A public administrator handles an estate when there is no one present or willing to serve as personal representative for a decedent. Carson City Clerk-Recorder and ex-officio public administrator Alan Glover was clearing out the home of Walter Samaszko Jr. when his crew discovered boxes of gold coins and bullion in the garage. More boxes were later found, and Glover said the gold coins, some neatly wrapped in foil and plastic cases, were enough to fill two wheelbarrows.

Walter Samaszko, Jr., 69, lived a quiet life in Nevada's capital city since the late 1960s and no one apparently knew of his wealth. The AP reported that records show he withdrew just $500 a month from his stock accounts to pay modest bills. No one expected the gold he had hidden in his home. The public administrator was able to trace Samaszko's geneology to locate an heir, a cousin named Arlene Magdanz. Magdanz will inherit Samaszko's fortune after his expenses are settled.

Pat Gallagher serves as public administrator for Ingham County. Unlike Nevada, in Michigan public administrators are attorneys appointed. While seven million dollars worth of gold is a rare find, the Gallagher Law Firm once found hundreds of thousands of dollars worth of uncashed checks stashed away by a decedent. This case illustrates how important it is to be meticulous in searching through a decedent's house. You never know what might be hidden.
Categories: Estate Planning