Legal Question in Wills and Trusts in Tennessee
My grandmother left me is worth a lot.
My grandmother passed away 2 yrs ago. She left me many items, including my grandfathers small baseball card collection. I recently found out that several of these are worth quite a lot. Im not sure of what to go about next, or if I do sell them, what taxes will be required, etc. Any help would be appreciated.
2 Answers from Attorneys
Re: My grandmother left me is worth a lot.
From your message, it would appear that you
are the sole beneficiary of your grandmother's
estate. By Will or by inheritance without a Will?
If you are dealing with property that has
significant value, I believe it would be in
your best interest to have yourself declared
the owner of these items through a probate
of the Will or an administration of the estate.
Please feel free to telephone me at 615.742.0833
if you care to discuss the matter in further
detail.
Marshall Snyder
Law Office Of Marshall Snyder
19 Music Square West
Re: My grandmother left me is worth a lot.
I agree with Marshall's comments. I would add that there are various tax consequences you may face depending upon the value of the item(s), particularly if you sell the items and keep the money for yourself. You may wish to do some tax planning to make sure you are not subject to a huge tax bill. Feel free to call me also if you wish (888-222-8080)
Sean Scally
Sean Scally, Attorney-at-Law
6053 Bradford Hills Drive
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