What crime is it to hide valuables from the government in an estate?

cdal325: What crime is it to hide valuables from the government in an estate?
No, this does not apply to me. But what level crime (misdemeanor/felony) would it be to not claim valuables in your estate after someone has died. Please provide links to sources for this if you can as i need proof for this answer.

Answers and Views:

Answer by daniel_97202
it is a smart crime. they tax you when you are living, they tax you when you buy the stuff, why bother taxing stuff when you die. helll the people already paid for and paid taxes on it. why tax them again.

Answer by Lexie
I think it’s only a crime if the estate is large enough to incur an estate tax. For that matter, I can’t imagine why else you would be hiding them. Unless, of course, the estate includes stolen property–you might have a bit of trouble unloading the Mona Lisa to your heirs.

Answer by Stuart
It’s a felony in most states. It would be considered fraud, and if you were the executor of the estate, it would also be fraudlent breach of trust.

Hiding estate assets is a good way to end up in prison very fast.

– Stuart

Answer by MisterTattiePie4U
Nothing really, unless the estate is valued at over a million dollars, and even at that, there usually is only an accounting of cash from savings, insurance etc, and real property (land and houses) Jewelry, has such a low resale or appraised value, when it comes to appraising estates that it rarely influences anything. There are exceptions, like very valuable pieces of art and high value gems, but those are usually fixed in the will to avoid being held up in probate, and/or taken over by the State. .

Answer by raichasays
Generally, it is tax fraud.

I’ll be happy to give you links if you tell me what state/country you are asking about.

For US tax information: www.irs.gov