Updated 30 October 2026
Administration of Estates - Potential Problem #2: Buried Treasure Found
What should an executor do after finding buried valuables?
An executor who discovers buried cash, coins, jewellery or other valuables should preserve the discovery, establish ownership and obtain legal advice before selling or distributing anything. Finding an object on estate land does not automatically make it an estate asset. Heritage requirements and competing ownership claims may need attention first.
- Pause work around the discovery and photograph the objects where they were found.
- Record the location, date, witnesses and any documents or packaging found with them.
- Tell the estate solicitor and check whether police, heritage specialists or a valuer should become involved.
Do not publish the location or estimated value online. A discreet, documented response protects security and preserves evidence while the executor establishes what can lawfully happen next.
Who owns treasure found on a deceased person’s property?
Ownership depends on the object’s history, where it was found, rights to the land and any superior claim. A landowner or lawful possessor generally has a stronger claim than a finder to objects in or attached to the land, but that does not defeat every true owner or statutory entitlement.
For loose objects on land, the occupier’s control over the premises can matter. These distinctions appear in the NSW Supreme Court’s discussion in Stockland v Carriage, which itself concerned Aboriginal relics and special statutory rules, rather than an ordinary inheritance dispute.
Look for receipts, insurance schedules, photographs and evidence from previous occupants. Concealment does not necessarily mean abandonment. A contractor does not automatically acquire ownership by making the discovery. If ownership is uncertain or theft is suspected, seek police directions and legal advice rather than promising the find to anyone.
When do heritage laws affect a buried discovery?
If an object may be a historical relic or Aboriginal object, stop disturbing the affected area and obtain heritage advice before removing it. Ownership of the land does not authorise every excavation. A protected historical relic depends on heritage significance, while Aboriginal objects are governed by a separate legal regime.
Under the Heritage Act 1977, historical relics relate to NSW’s non-Aboriginal settlement and have State or local heritage significance. Age or market value alone is not the test. Heritage NSW explains the applicable permits and exceptions.
Follow the relic notification process promptly and obtain advice before work resumes. For possible Aboriginal cultural heritage, leave objects in place and contact Heritage NSW promptly so required notification and assessment can be completed. The Local Aboriginal Land Council can also assist. If possible human remains are found, leave them untouched, protect the location and notify NSW Police.
How should an executor record and secure the discovery?
Create a clear inventory and record who has handled each item. Once removal is lawful and appropriate, arrange suitable secure storage and insurance. Keep discovered money separate from personal funds. The executor must protect assets and maintain reliable accounts while avoiding actions that damage objects or destroy evidence.
Photograph containers, inscriptions, serial numbers and accompanying papers. Where practical, have another person witness the recording and counting of cash. Retain receipts for professional storage, transport, insurance and valuations.
Do not clean coins, dismantle jewellery or discard packaging before specialist advice. Tell contractors and family members how discoveries must be reported. The Court’s guidance on estate accounts explains the executor’s responsibility to account for estate property and administration.
What happened in the real buried-cash case Re Josipovic?
Re Josipovic [2021] VSC 43 concerned $50,000 buried in a deceased woman’s backyard and a handwritten document directing its distribution. The Supreme Court of Victoria accepted the document as a codicil to her will. It illustrates the importance of preserving instructions found with, or relating to, concealed assets.
State Trustees found the signed Croatian document in Marija Josipovic’s bank safe-custody packet. It was dated one day after her will and described where the money was hidden. Following its directions, State Trustees recovered the stated amount.
The document lacked the required witnessing. Applying Victorian legislation, the Court considered testamentary intention, capacity, knowledge and approval, and undue influence before ordering a grant covering both documents.
Re Josipovic was a Victorian informal-will decision. In NSW, section 8 of the Succession Act 2006 provides a separate dispensing power, subject to evidence and statutory requirements. Executors should preserve any note and obtain advice; neither its validity nor its effect should be assumed.
Once ownership is established, newly discovered estate assets must be properly disclosed and included in the administration records. The required court filing depends on whether probate has already issued. Finding another asset does not automatically require a fresh grant, but the executor should have the existing paperwork checked promptly.
The Supreme Court’s probate checklist distinguishes an affidavit with an amended inventory, used after filing but before the grant, from an affidavit of additional assets after the grant. The latter uses UCPR Form 148.
Ask your solicitor about the appropriate valuation date and supporting evidence. Update the estate accounts, proposed distributions and any relevant tax work. If money has already been distributed, obtain advice about further administration and potential liabilities before making promises to beneficiaries.
How should hidden coins, jewellery and other valuables be valued?
Use a suitably experienced independent valuer who understands the particular objects and the purpose of the valuation. A coin’s face value, metal value and collector value can differ. The estate needs a defensible assessment, supported by identification, condition and market evidence, before deciding whether to retain, transfer or sell.
The Royal Australian Mint’s coin valuation directory identifies professional valuation providers, including NSW businesses. For jewellery or antiques, choose someone with appropriate expertise and disclose any proposed purchase by the valuer.
Request a written report specifying the relevant date and valuation basis. An insurance replacement figure is not necessarily the likely sale price. Compare sale methods, commissions and other costs, and obtain another opinion where value or authenticity is genuinely disputed.
Which beneficiaries receive newly discovered estate assets?
Once the estate’s entitlement is established, the will’s wording determines whether a specific gift covers the asset or it falls into the residue. If no effective testamentary provision applies, intestacy rules may become relevant. Discovery does not create an automatic equal entitlement for every relative or a personal reward for the executor.
A gift of jewellery, household contents or a coin collection may raise different questions from a gift of money. Avoid assuming that whoever inherits the house also receives everything concealed beneath it.
Legal Aid NSW explains estate distribution. Executors must address liabilities and administration expenses before distributing assets. A sale may be appropriate, but liquidation is not inevitable: a lawful transfer to the entitled beneficiary may be possible. Obtain advice where the wording or competing claims are unclear.
Are inherited valuables or their sale proceeds taxable?
Australia does not impose an inheritance or estate tax, but selling inherited assets can have capital gains tax consequences. Treatment depends on the asset, its acquisition history and applicable exemptions. The discovery of hidden wealth does not itself establish that a later sale will be tax-free or taxable in full.
The ATO explains tax obligations for beneficiaries and CGT treatment of collectables. Jewellery, antiques and coins kept mainly for personal use or enjoyment can fall within the collectables rules; investment assets require their own classification.
Preserve purchase records and obtain advice about the cost base, valuation date, sale expenses and who must report any gain. A date-of-death valuation does not automatically become the tax cost base for every inherited asset. Avoid distributing all proceeds before tax liabilities are assessed.
How can families prevent disputes over hidden wealth?
Reduce uncertainty by documenting valuable possessions during life and leaving clear, properly executed estate instructions. Keep a secure asset inventory and tell the executor how to access it. During administration, share appropriate information with beneficiaries, explain valuations and obtain legal advice before resolving ownership disputes or changing proposed distributions.
Record descriptions, ownership evidence and storage arrangements without placing sensitive security details in widely circulated documents. Review the inventory when assets are bought, sold or moved. A private list should support the estate plan; informal gift instructions can create questions about whether it changes the will.
If a dispute arises, preserve the assets and evidence while solicitors assess negotiation, mediation or court directions. CM Lawyers’ wills and estates team can assist with the legal review. Contact us before selling or distributing a disputed discovery.
General information about estate administration in NSW, not individual legal advice. Have the ownership, reporting requirements and proposed dealings checked by a lawyer before acting.
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