Posted By:
Frank WakefieldHey guys...
If the cards are listed on an inventory of assets, then your beneficiaries will be looking at paying an inheritance tax (if your state of residence upon death has one) and possibly the federal tax. And it is remotely possible that cards in an estate would affect the cost of a fiduciary bond, and might push up executor fees if incurred.
If you really want kids to get the cards, give them to the kids before you die. I recognize it is difficult to ascertain when you'll die.
My kids ask me about my cards from time to time. They know the cards are there, and perceive there is some value there. But none of them could tell you what color ink is used to print names on a T213 (but hey, slab companies don't know that from time to time) and they have no idea who Jefferson Burdick was. I'm a bit reluctant to give the cards to any of the kids, or grandkids for that matter, if they don't know what they're getting. I think, maybe mistakenly, that it is my job to pass stuff on to someone who'll appreciate them. Gotta give my geneology stuff to someone who cares about that, coins to a numismatist, stamps and covers to a philatalist, antiquarian books to a bibliophile, old baseball books to someone who cares about the history of the game. And if, as I get close to going, if I can't identify such folks amongst my kin, maybe I should sell the stuff to some non-relative... that way they'll appreciate the stuff, and I the money.