Estate Planning by Burying Stuff

you realize its 2013 right? This isn't the days of long john silver and his "booty".

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how long does it have to be buried before somebody else can claim it tax-free?

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Until the tax law gets changed to allow such an obvious loophole.

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For a diversified estate plan, I was wondering about the tax implications of burying stuff and leaving a map for heirs to find it.

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Do you have a combined 10.5+ million between yourself and your wife?

If not, then I'd just go get a will done.

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Has anyone done this as part of a diversified estate plan? For a small fraction of the estate, it can't be any worse than putting that money in universal life insurance, right?

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Ted Binion buried several million dollars worth of silver coins in the Nevada desert. Someone was caught digging them up within days of his death from an overdose. The greed of the people who knew where the coins were buried kind of made burying them ineffective if it was done for estate planning purposes.

Teddy's death was one of those truth is stranger than fiction type stories. It was really weird when it happened because I was at dinner with Jack Binion when he got the telephone call informing him of his brother's death.

I can't imagine that the probate courts or the IRS would look too favorably on significant assets being knowingly omitted from estates since the required disclosures are signed under penalties of perjury. If I were to attempt it though, I would just leave the map among my personal effects and papers, and bequeath the personal effects and papers to the intended beneficiary. Thus I would declare the map to be of inconsequential value among various assets indistinguishable from other items.