Risk of seizure aside, I would look into as many alternatives as possible before travelling any distance with a significant amount of cash. Buy some travellers checks--- if the amount is enough, the banks will work with you on the fees, especially if you do a fair amount of business with them. Or take it to Western Union and send yourself a wire transfer. Money orders? Paypal it to yourself? There's got to be other options out there. I am not really concerned about getting mixed up with LEO seizures--- there's generations of cops in my family and all I need is a couple of carefully dropped names and I get treated like family by LEO's everywhere, and I hope I never need to use that for any situation like ones I am reading here. What I would be worried about, though, is any of the other ways there are to become parted from your bags.
Could you imagine getting ready to board and finding out your plane had been downgraded to a CRJ and you'd have to gate-check the bag? Would you gate-check it with the money inside, or try to discreetly remove the money from the bag before gate-checking, and find somewhere else to stash the money. Hopefully you preplanned for this possibility and the money is safe and out-of-sight in its own little case where it can easily be stowed elsewhere.
What about the braindead PAX who accidentally grabs your carry-on from the bin and deplanes before you notice? Or a fire in the hotel room and all your belongings, including cash, go up in smoke? Or the thieves at the airport bar?
I know none of these situations are really all that likely but since you can't replace cash, I would be unwilling to take the chance. LOL I would probably drop dead of a fear- and paranioa-induced heart attack, leaving the airport pickpockets ample time to remove the money from my bags!