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Anti-Gov't Recluse Leaves $7M ... in Gold
Was 'anti-government' hoarder
By Matt Cantor, Newser User
Posted Sep 18, 2012 9:42 AM CDT
A recluse left behind $7 million in gold.   (Shutterstock)

(Newser) – Neighbors didn't know much about Walter Samaszko Jr.—in fact, he had been dead for at least a month before the smell tipped people off to his demise. And when officials visited his house, they learned something else about him: He'd owned at least $7 million worth of gold, the Tahoe Daily Tribune reports. "There were dos-pesos smaller than a dime, five-peso coins, $20 gold pieces, gold sovereigns, Austrian ducats, Krugerrands; you name it, (he) had it," said a city clerk about Samaszko, a 69-year-old anti-government hoarder. Officials hope that after taxes, most of it will go to Samaszko's only heir: a first cousin who works as a substitute teacher.

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Showing 3 of 26 comments
Antistate550
Sep 19, 2012 1:41 AM CDT
So the filthy government get to tap into this man's money before his own family gets anything? He kept it in gold to keep it away from those greedy f*cks in the first place
flatnosepete
Sep 18, 2012 11:42 AM CDT
Don't cry for the Ultra Rich. The ultra rich already have many wealth transfer tools to play with, most of which the IRS and Congress are fully aware. The ultra wealthy are much more likely to have substantially used grantor retained annuity trusts, charitable lead and remainder trusts, defective grantor trusts, dynasty trusts, family partnerships and valuation discounts to reduce or eliminate estate, gift and generation skipping transfer (GST) tax liability.
flatnosepete
Sep 18, 2012 11:40 AM CDT
Under federal estate tax law for 2011 and 2012, most of the wealthiest 1% of American households are not subject to estate tax liability. This is because of the large estate tax exemption, presently at $5.12 million per spouse. This means that with nominal planning households worth less than $10.24 million could avoid the estate tax.