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 Replies: 41 / Views: 5,597 |
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Pillar of the Community
United States
3474 Posts |
Quote:
I don't care. I couldn't have said it better myself.  |
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Pillar of the Community
United States
885 Posts |
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The federal estate tax kicks in at $11.7 million for 2021 so this often isn't a limit most people need to worry about. Some states do have lower limits but many don't impose an inheritance tax as well. The state I live in wants the tax if it is over $1 and it is due the day a person dies. 0 percent on transfers to a surviving spouse or to a parent from a child aged 21 or younger; 4.5 percent on transfers to direct descendants and lineal heirs; 12 percent on transfers to siblings; and 15 percent on transfers to other heirs, except charitable organizations, exempt institutions and government entities exempt from tax. Property owned jointly between spouses is exempt from inheritance tax. Edited by PlumCrazy814
08/31/2021 7:14 pm
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Bedrock of the Community
United States
10284 Posts |
Wife sends to Heritage Auctions or something like that. I'm taking my Jefferson nickels with me. I told St. Peter I'd help upgrade his set. |
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Moderator
 United States
189340 Posts |
Quote:I'm taking my Jefferson nickels with me.  Quote:
I told St. Peter I'd help upgrade his set My best shot is that Ike has volunteered for guard duty that day.  |
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Rest in Peace
United States
18456 Posts |
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I have no idea what will happen to my collection when I pass away. Possibly someone will dump it all in a bank. Carl do me a favor , before you go let me know of some of the banks that are near you !  |
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Pillar of the Community
United States
1186 Posts |
I would have them put in the coffin with me but I wouldn't be able to see them.
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Moderator
United States
189340 Posts |
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before you go let me know of some of the banks that are near you !  |
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Pillar of the Community
United States
1629 Posts |
My son has his own collection, so he'll be getting mine. I THINK he may share one or two with his sister, but probably not.....
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Pillar of the Community
Canada
857 Posts |
Pro tip, if you think you're going to die, eat your coin collection to gain it's powers.  Edited by Numis-Northerner
09/01/2021 4:45 pm
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Moderator
United States
189340 Posts |
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Pro tip, if you think you're going to die, eat your coin collection to gain it's powers. Level up!   |
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Pillar of the Community
United States
1058 Posts |
As my collection is very specialized and would appeal only to limited markets, about 90% (Britain and colonies) goes to Dix Noonan Webb, Baldwin's, or St. James (depending on fees at the time), and the rest (North America) to Heritage. Post-sale distribution of proceeds to wife and son, all as spelled out clearly in my will.
"If everything seems to be under control, you're just not going fast enough."
--- Mario Andretti
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New Member
United States
6 Posts |
Just in case something happens to me I made an agreement with a friend who is a coin dealer to buy my collection from my family at a fair market price to save them the headache or to help them price it out to be sold as they wish.
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Bedrock of the Community
Australia
21788 Posts |
I have instructed my kids:
public auction by specialist numismatic auctioneer.
Actually, the auctioneer has been imploring me to sell my collection for about the last 5 years or so, just like a real estate agent, but I have resisted. His turnover is consistently above $10 million per year.
Lower valued coins will be parceled in job lots of 5 to 100 or so,
higher valued coins auctioned as singles.
Total value realized would be in the many 10's of $thousands.
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Moderator
United States
189340 Posts |
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Actually, the auctioneer has been imploring me to sell my collection for about the last 5 years or so, just like a real estate agent, but I have resisted. Vultures! |
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Pillar of the Community
United States
2703 Posts |
A recent health issue has me thinking about this. I have no clear plan. My collection is strongest in France and Sweden from about 1520-1870.
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Replies: 41 / Views: 5,597 |
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Posted 08/31/2021 7:13 pm
