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Posted By: warshawlaw

My wife will have it all anyhow if I croak first; if she goes first, it goes to my daughter. My wife knows the names and contact information for several major auctioneers and knows what to negotiate in terms of commissions and BP. They can do the rest for her. If my wife predeceases me, either the guardian or my daughter will have the same info.

And as far as taxes go, if you leave it to your spouse, it passes tax free. If not, you may need some planning. You have to look realistically at the value of your estate (w/life insurance factored in) and determine whether planning is worthwhile in light of the growing estate tax exemption levels from now to 2010. After 2010, I'd hazard a guess that anyone who owns a home and has life insurance will have to engage in some serious planning. Also note that you do not have to run out and raise $$ overnight when someone dies. The tax returns and payments are due a considerable time down the line.

The only stuff that will stay in the family is the stuff related to the family (i.e., my boxing cousins).