u/OG_Lesh

Trying to keep it brief but happy to provide more information if necessary.

My father had some equity in the US and died in 2005.

We found out in 2022 and tried to retrieve it but then stuff happened and the whole process and some family dispute happenend so it went under the radar.

The asset manager informed us that according to US law 3 years after finding out that the investor died the assets are deemed as "relinquished" and taken by the IRS.

The process of retrieving them is complicated but possible. They weren't able to provide more information.

I tried googling it but I sadly didn't find any helpful answers for my case.

Which is why I am asking if anybody has some general direction or process they can point out to me.

Hiring a lawyer is obviously an option but the amount is in the mid-high 5 digits so its in that weird zone where forgetting about the assets is not possible but a lawyer would drain almost half of the worth... the cash will also be split among 4 remaining family members which is why a lawyer might not even be worth it for the cash we try to retrieve.

Thanks for every advice :)

Guten Morgen, ich versuche mich kurz zu halten kann aber gerne weitere Details liefern.

Vor einigen Jahren haben wir (Mutter + 3 Volljährige Kinder) erfahren, dass mein Vater vor seinem Tod 2005 einen Vermögensverwalter in den USA hatte. Nach mehreren Hürden (Vollmacht, Verlassensvhaft neu anstoßen, Suche nach dem aktuellen Asset Manager etc...) konnte ich 2023 den Liquidationsauftrag abgeben. Dieser geht (laut Amundi) jedoch nur folgendermaßen: schriftlicher Auftrag zur Liquidation und Überweisung auf mein Konto unterschrieben mit allen (per Mail vorab geschickten Unterlagen) im Original an ihr Postfach in Boston. Nach Erhalt wird der Auftrag durchgeführt.

Nach einer kurzen Verzögerung waren wir bereit und der Ukrainekrieg brauch aus und damit ein Absturz des Wertes um ~ 30 %. Der Kurs hat sich dann irgendwann erholt und wir haben den Auftrag aus anderen Gründen nicht erteilt. Jetzt wo wir das wieder anrollen wollten ist der Wert wieder volatil ohne Ende...

Meine Idee war jetzt (um das Risiko dass der Wert in der Transferzeit abstürzt) zu mindern, einen Anwalt in den USA an meiner statt mit entsprechender Vollmacht den Auftrag erteilen zu lassen. So würde die Übermittlungsdauer von mehreren Tagen auf vlt einen verkürzt werden können.

Ist das überhaupt möglich? Dass der Anwalt nicht billig ist ist uns bewusst. Es geht um eine hohe 5 stellige Summe. Zu viel um darauf zu verzichten, zu wenig um selber hinzureisen.

Amundi hat öfter klargemacht, dass Alternativen zur Übermittlung nicht möglich sind.

Leben in Wien und müssen den Auftrag nach Boston schicken

Hi, I try to keep it brief but gladly provide more information if necessary.

Location: Vienna Austria.

20 something years ago my father invested in some funds (Amundi) through an external asset manager and died a few years later. Around 2022 I managed to get the power of attorney to represent the estate (my mom and 2 siblings) in Austria and provided every necessary document and information for Amundi Pioneer (which are now holding the assets after the manager/investor retired a few years ago). The only thing that had to be done was to send a written order to the client representative at Amundi containing the original documents (we have been communicating through mail and phone) and instruction to liquidate the assets and transfer them to a bank account in my name. Afterwards I was to split them in the amounts according to Austrian law and the notary letter.

A few days before we planned to send it the Ukraine war broke out and the assets lost around 30 % of value for a while. They managed to recover but we decided to wait until geopolitics and the market will become more stable again and obviously missed our opportunity...

There is no other way to liquidate the assets according to my contact.

A priority letter would still take a few days until it is processed. I tracked the value and while it sometimes managed to spike upwards it also fell down frequently for a few days.

My question: is it possible to hire a lawyer/(maybe some junior at a big 4 company) and provide them with a Power of attorney for the liquidation order. Instead of speculating that the market will be at a convenient price after them processing it we could cut the time to maybe half a day (after giving the representative the go sign) or is this a pointless attempt?

We tried everything else.

The assets are sitting at around 80 k usd and have been passed around for a few times apparently which is why it's seems to be so complicated to liquidate them. Electronic orders are apparently not possible.

We are expecting the fee for the lawyer to be in the lower 4 digits. Is this reasonable?

Edit: the transfer instruction has to be sent to (I am not sure at the moment but I think) Boston to their office there.