Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, January 29, 2013

Gold to be Auctioned in Carson City, Nevada

Unknown-4Walter Samasko Jr. died in Nevada without a will last year and left some complications for a Carson City court to deal with.  Even though he only had $200 in the bank and lived modestly on income from less than $200,000 of stock investments, $7.4 million worth of coins were found in his garage.  

Aside from the $800,000 of that total that will go towards estate tax, a Carson City judge approved a plan to have much of that gold auctioned at the local courthouse.  A reserve will be set based on the market price of gold on the day of the auction, February 26.   

Carson City Clerk, Alan Glover is the administrator of the estate. When the coins were found last year, he used a wheelbarrow to get the gold coins to his truck so they could be safely deposited. 

See Martha Neil, $7M in Gold Coins Found in Intestate Man's Garage Will be Auctioned at Courthouse, ABAJournal, Jan. 29, 2013.

http://lawprofessors.typepad.com/trusts_estates_prof/2013/01/gold-to-be-auctioned-in-carson-city-nevada.html

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