How to leave money to someone without the government knowing?
How can I be sure my friend gets this letter (cash) after I die?
Voting Results
75% Normal
Based on 4 votes
(3 yes)
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Comments ( 14
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Clunk42
Hide it somewhere really well in your secret basement, leave a letter stuffed into one of the books in your house as to how to get into your secret basement, then you've created a Nancy Drew mystery.
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litelander8
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donteatstuffoffthesidewalk
safety deposit box is tied to your ssn and definitely has the government snoopin in the post death openin
bury some cash in a piecea sealed pvc and send a treasure map to be opened in event of death
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Cuntsiclestick
Saving money in a secret hidden box is definitely a good idea. This is how some people I knew stayed ahead after filing for bankruptcy or getting a divorce. It's an asset the big wigs can't touch. Downside is when one saves money in a box it cant get interest and it can easily be swindled if it's not hidden carefully enough. XD
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LloydAsher
Honestly the good ol gold and silver. They retain their value and since it's not actual currency its can be transferred between individuals without a tax.
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olderdude-xx
The best way is to hire a law firm to hold and envelope with the condition that they deliver it to your friend after you die. You may have to pay them some money up front for them to stay in touch with you and to track you if you loose touch.
Many law firms have a safe with various documents that they keep "for life". I did a will in 1990 that an original copy in the law firms safe until 2012 when I did a new will. The law firm had gone out of business, but another acquired the assets - including the contents of the safe.
I contacted the new law firm and told them to locate the will, and destroy it as I had made a new will. They were very happy to do so and thanked me for letting them know (it was actually a several step process, but they were very pleased that I contacted them about the will change and to destroy the one in their safe).
Edited to add: You need to include in the envelope a letter that says the money is a gift from you to them, and to keep it for their tax records. People do not have to pay taxes on gifts and you don't have to declare it on your taxes (assuming you have documentation). The lawyers may suggest additional or other wording (they know important details of the law that I don't).
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DADNSCAL
Put it in a safe and leave the person the combo to be opened at your death. Just be sure the safe can't be moved.
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sweetone89
Maybe give it to a trusted friend or relative to give to the person after you die.
Or give it to your friend now and tell them not to open it until you die.Comment Hidden ( show )