The year is 1928. Samuel Fulton (Charles Coburn) is an old and lonely New York millionaire who has decided to leave his fortune to the family of the late Millicent Blaisdell. Millicent is the only woman he has ever been in love with and they briefly dated, until she dumped him because she did not return his love. Samuel explains to his lawyer Edward Norton (Frank Ferguson) that losing the love of his life was what inspired him to build up a career as a wealthy businessman, eventually becoming the richest man in the world. Fearing the family will spend the money the wrong way, he decides to visit them in a small Vermont town, faking a newspaper advertisement to board a room under the alias John Smith.