Antique Collections, Gun Collections, Paperweight, Clocks, Scientific Instruments,
Background:
My Father was an incredible man who truly made an indelible mark on History. He had a very successful career as a mechanical engineer.
Dads career took him all over the world. In his travels throughout the years, he managed to accumulated a small fortune in Antiques and Collectibles. You see, Dad had been collecting and restoring Antiques since I was a little girl. His plan was to open an Antique shop when he retired. Dad inherited his passion for antiques from his parents (my grandparents) who had an Antique shop in Kentucky years ago.
Question:
Can extensive Collections within Personal Property be treated differently or separately? Example: (Antiques, Collectibles, Art, Guns, Paperweights, Clocks, Scientific Instruments,. etc.) If so, how would I go about introducing it?
Comments:
I believe that the value of my fathers collections are easily equivalent to his Real Property.
My sister and I are to receive 5%each of the estate.
He gave his wife(#4) all of his personal property and everything else. The will is really sketchy in regards to validity but that's a different story.
The Estate is only worth about 1million without the collectibles. 5% after all of probate fees is practically nothing.