cesariojpn wrote:They found a distant cousin thru the funeral rolls. Also, the Government could actually take up to 75% of the total value of the lot for Inheritance Taxes (Unreported from Mother to Son, and from the guy to the girl), Unreported Income, State Taxes, Capital Gains Taxes, and any adjusted value if Numismatic Value of Coins and Cash is factored in.
That Cousin is gonna get a paltry paycheck when all's said and done.
The cousin can fight all of that. If the dead man DID PAY his taxes and has some reasonable record of purchasing or using real money to buy the gold there will be no issues with taxes, other than the lengthy process.
He can also fight against bogus over-valuation of semi-numismatic gold.
Inheritance tax over, I think $2 million (is that correct?) is taxes as normal income in these cases, so he would lose 35% of that amount.
So if he fights and if the old man paid his taxes he'll get about $5 million.
Which is well above paltry.