Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Tuesday, December 12, 2023

Indianapolis' secret millionaire! Veteran charity worker who lived 'unbelievably' frugal life leaves $13M to charities - but some missed out because they thought it was a scam!

MoneyTerry Kahn, who worked for the Veterans Administration for 30 years, quietly passed away in 2021, leaving behind $13 million for local charities in his will. Kahn, who lived modestly in Indianapolis, had no immediate family and specified only to donate his money to charity without naming a specific organization. 

Kahn's attorney, Dwayne Isaacs, had the unique task of calling local charities to offer them millions of dollars. Some charities initially thought it was a scam and missed out on the donation. However, a dozen nonprofits benefited from Kahn's generosity, including Teachers' Treasure, Helping Veterans and Families of Indiana, and Coburn Place. Kahn's frugal lifestyle, including avoiding a cell phone for cost reasons, allowed him to make a significant impact on his estate.

For more information see Martha Williams “Indianapolis’ secret millionaire! Veteran charity worker who lived ‘unbelievably’ frugal life and didn’t even own a cell ‘because it cost too much’ leaves $13M to charities”, The Daily Mail, December 9, 2023.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2023/12/indianapolis-secret-millionaire-veteran-charity-worker-who-lived-unbelievably-frugal-life-and-didnt-.html

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