Who is the last person you want inheriting your money? Ok, besides that pesky relative. That’s right, the government. So what do you have to say about the Seattle couple that left their entire $850k estate to the United States Federal Government?
Strange Inheritance: The US Government’s Cashier Check
- Most people come to Palm Beach probate lawyers to help keep their money out of the government coffers.
- Experienced Palm Beach probate litigators know how to keep estate taxes and other taxes low.
- Well one Seattle couple wanted their entire inheritance to go to the U.S. government.
- A cashier’s check in the amount of $847,215.57 was recently received by the U.S. Dept. of Treasure.
- The weirdest part?
- It still not entirely clear why the coupled wanted their estate to be left to the government but it is suspected the immigrant couple felt a great debt to the United States.
- The couple was from Eastern Europe and was welcomed to the United States in the midst of World War 2.
- They also did not have any living relatives in the United States.
- Palm Beach probate litigators know that getting an inheritance to a foreigner is not a problem and with proper estate planning can be done with relatively little added expense.
- A simple estate plan was set up that directed all assets to be collected and left to the United States.
- Believe it or not that took over three years to collect everything in the couple’s names, which included a house, bank account and stocks.
- Experienced Palm Beach probate litigators have heard it all and seen assets left to every different association, charity or administrative body you can imagine.
- That being said a federal government donation is rare, to say the least.
- Would you want any of your money being sent to the government with absolutely no instruction on use?
- Its unclear right now what directions this donation dictated to the government for use, if any.
Want to learn more? Check out our FAQ video library to learn about Palm Beach estate planning.