Hot Rods Old age dilemma!!!!!

I don't think you're blind or don't care about the future. I think you are alive today and enjoying it. As far as I'm concerned, that's the only way to be. None of us are promised that there will be a tomorrow and it won't do one bit of good to live our lives worrying about what will happen to our possessions when we're gone.

 

I have been thinking about this for awhile. I am 71 married for 47 years, have two hot rods right now and lots of automobilia. If I start taking down signs to sell, the garage will not be the same. Bad enough to leave the wife with the cars, but so much stuff as well. I will start thinning out a little at a time. See me in Hershey. C4J-36 Will have some collectables etc.. Or just stop by for a beer!

 

I am married and have no kids. I have one brother who i don't like, so all my stuff/money goes to animal care projects and none to family.
Wish there was another solution but i think it is the least worse one.
Lucky thing for me is, i will not know it since i'm gone then.

Hennie

 

My grandfather used to call that leaching by preaching.


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Wolf, you are a very good, special grandpa! I’m so sorry about your Daughter in law. Saying many prayers for you guys.


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I would have assumed everything would go to your wife, but I don't want to go there. Be sure to have a lawyer help you with your trust/will as it sounds like there will be a lot of complaining when things are distributed. A good lawyer is a good investment. Ask your lawyer if you should leave a token amount ($1) to those you don't want to skip just to show that you didn't accidentally forget them. Does your lawyer keep a copy of the will and will he serve as the executer? If you can file a copy of your will with a government agency do so. It sounds like there will be a great temptation for people to rewrite your will after you are gone. My friend had something like this happen. The wife took the signed first page of the will and attached her version behind it. The relatives contested it in court and the lawyers made out well.

Charlie Stephens

 

Maybe each page of a Will should be signed, dated and attested......

Ray

 

There are still a few young kids out there that love the old iron. You know what would be cool? Find one of those kids, take him under your wing while you're still kickin' and leave all your stuff to him when you kick the bucket. That would be better than hitting the lottery to a gearhead.

 

It looks like we are gonna be doing a large part of raising our three grandsons and grand daughter. Im hoping one of them will become ate up with the mechanic hoarder junkman disease? They are interested now. Pictured is the second eldest Grayson he now thinks he owns the D 4 Cat.

 

I also noticed on the Fordbarn that the volume of posts and the activity seems to be way down from back when Shelly had it.
The interest level has dropped off dramatically.
A lot of folks are going to be sitting on a lot of cars and parts with little interest in them.
That is one of the risks of being a hoarder.

 

I was thinking maybe a thumb print on each page. If I expected any problems, I would definitely ask my lawyer about the thumbprint.

Charlie Stephens

 

A man is on his deathbed and knows his time has come. So while his wife is at his bedside he says "Honey, I love you but I worked like a dog to acquire the vast fortune we have. Half of it is plenty for you to live a rich, full life so I ask you to take my half and put it in my coffin so I can take with me." She agrees and he shortly passes away.
Later on, at the funeral home, right before the coffin will be closed and taken to the graveyard for burial, she's there, stuffing fistfuls of cash around and on the deceased husband. Her son wonders what's taking her so long to join the family in the limo and he goes back to check on her.
He asks what she is doing with all the cash and when she explains about her husband's wishes, he says "Oh, Momma! That's so much work...... Write 'im a check!"

 

The title of this thread is wrong, it should read Age Old Dilemma.

 

"I was thinking maybe a thumb print on each page."

When the vultures are pulling the rings off, they'll just take the thumb as well.

 

I saw a variation of the punch line....the wife is taking all the money out of the casket and a friend asks her what she is doing.....she replies...."I'm taking the cash and putting in a check.......if he can cash it, he can have it"

Ray

 

What he said ^^^


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I can relate to everything you wrote, but we are no longer mainstream or majority though. We’re more like ‘new old school’


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I heard it stated that there is very little difference between a collector ,enthausast ,hobbiest & hoarder. When you have one of something you a enthausast. Two and your a hobbyest, three and your a collector. more than three & your now a hoarder that actually don't know or care how many they have. They only care about where the next one is coming from.

 

Everybody's situation is different of course. I am thankful that my wife and I share the same interests and have enjoyed many years of collecting together. We have no children to leave anything to and have no relatives that are local or interested in our stuff. We are rapidly approaching retirement age and decided a few years ago that rather than construct more buildings to store our earthly treasures in, it was time to get the hoard under control.
We're not getting out of the hobby, I plan to keep a few projects to enjoy in retirement but the rest is finding new homes for others to enjoy. I'm not going to be the old guy on his walker that gets asked about the old car in the fencerow and proclaims "I'm going to fix it up some day!". It has actually given us a "freeing" feeling to see stuff go to new owners (that appreciate it) now rather than wonder what's going to happen to it later on. I've recently found stuff in the corner of the shed that was important to me years ago but has long been forgotten as new finds made their way in. Someone mentioned earlier in this thread that it's "just stuff" and that is SO TRUE! We all entered this world with nothing and we're all leaving it the same way. The time we spend together enjoying the hobby, and the friends we made along the way are much more important than the "stuff".
I hope to one day have a younger person that takes interest in the hobby to leave a few things to. If not whatever's left will get sold with proceeds going to charity. Selling now and having the cash set aside to enjoy in retirement is not a bad thing either!

 

This thread has hit home to many of us, me included. My son isn't interested in my cars and my daughter, who could be interested, lives in NYC, not exactly a good area to keep a hot rod and parts. I have no where near the amount of stuff some of you have aluded to, but like the rest of you, no one wants the china from England, the silverware mine and my wife's parents gave us, the furniture I built, stuff I rebuilt and refinished years ago, the Yadro pieces, the pictures of family long gone but part of our history, and so on and so forth. The wife and I have been talking about starting to give the stuff away to those having an interest - at least we can see them enjoying it. As for the cars, my grandson and maybe my granddaughter could be interested but where would they house it, how do they keep it and maintain it? My grandson and I are hoping to assemble a flattie for my roadster soon or when time permits, so he can have the knowledge to maintain something that very few know and understand. Once we complete that, we will install it and do some updates at the same time so he is familiar with the car and knows what to do to maintain it. Hopefully this can be done and it will all work out, and it's his. But, I do have a plan B - the son of some very dear friends of ours may just get it all and with the help of people I have lined up to help him, he can keep the tradition going. Time will tell ....

Like has been said, it's just stuff and hopefully they will remember how much enjoyment I got out it and that memory will live on, regardless of whether the actual cars are still around. Like most of you, we bought and collected much of what we have to pass on to our kids, relatives, friends but it's a different time now and turning back the clock isn't an option. I never knew I would have as much as I have now but the more "stuff" you have, the more there is to look after. We just have to move forward, enjoy what we have, help the younger guys with advice, help, and parts and live in the moments we have left.

Now, can we please get back to building hot rods and having as much fun as we can with them?!?! Lol!

 

A few years ago I helped a neighbor with terminal cancel who was trying to finish his car. We didn’t make it in time. .
During the funeral his wife told me his son, whom it was willed to, wanted to finish the car.
I sat down with his son, whom had no interest in getting dirty or doing actual work, if he wanted help he would first have to start reading about this type of hobby. I gave him the H.A.M.B. website to start his learning curve.
I told him when he felt he was ready to get started to let me know. I explained to him I would be beside him every step of the way but HE was doing all the work.
Never heard from him.
Years past. One day I looked in the newly built garage his dad built to finish the car and it was gone. He sold it.
Some day he will kick himself in the ass for this move. Or maybe not.
Sad

 

Think about contacting a trade school that spelizes in Auto restoration ( I saw one on "chasing classic cars on TV) maybe they would be trilled to have a "project car" that they can work on NOW while your alive and maybe help with guidance. They are learning the skills needed to make something out of your "stuff" plus you will feel a real sense of accomplishment by "Paying it forward" just a thought... also it maybe a tax write off for NOW!

 

Now there's a really good idea, as long as the school doesn't go the S-10, Ranger or Crown Vic route. Of course, once the vehicle becomes theirs, it's theirs.

 

At 79 I have just come through a life learning experience. My investment counselor insisted that we name a power of attorney through a trust. He informed us " wills" do not cut it in this day and age, but trusts are iron clad and are the only sure way of distribution of ones estate. If you think a will is the sure way of giving away what you have to whom you want to have what, think again. Probate court can go on for years with lawyers getting most of any proceeds left. Everything we have including our checking accounts is now in a trust. I have my trust instructed to distribute my real property, my 34, everything, to named people and that can not be contested.

 

Well my hoard just got reduced a fraction. I dug out a pair of guide head lamps. Listed them on the Facebook Marketplace yesterday for $100 . And a guy in Missouri wanted them. And his father was heading thru Pocahontas in a semi. So We arranged to meet and I sold them. Less than 24 hours. after listing them. No shipping No paypal just a face to face transaction and a handshake.

 

I agree wills aint worth the paper that they are typed on.

 

Trusts can't be violated? You haven't lived through a corrupt Trustee. There are corrupt lawyers and "trustees" who have made a cottage industry of looting trusts...

 

If really want to let someone have you stuff. The only certain way is give it to them now. If your not using it put the title in their name and insist they take it home with them. If its land deed it to them. If its your home you can deed it to them and keep a life Estate. And when you die its theirs. No lawyers or probate required. I have been shifting stuff around in my shop today. Uncovered a Cyl head and related parts for a JD tractor. I don't have nuthin it fits. Don't intend to ever own anything it fits. Got it out of the trunk of a 65 chevy car I bought at a estate auction. So I just listed it for sale.

 

Get a good lawyer that SPECIALIZES IN TRUSTS AND ESTATES before you do anything. If you deed something to a friend and they go bankrupt (maybe from a serious accident) the property is theirs and the bankruptcy court will probably seize it to pay the settlement. The property taxes will probably change at the transfer. The last I heard if someone inherits a piece of property the value is stepped up to the market value should they want to sell it. I think this is being revised but I don't know the outcome. As I said in my initial statement, get a good lawyer it will be money well spent. I am not a lawyer and anything I say should not be taken as legal advice.

Charlie Stephens

 

Not so. If you retain a life estate its yours until you die. Im fact if you retain a life Estate and You get infirm and go into a nursing home. The DHS and others can sill place alien on the place. It will not be seized and taken until you die. even if whoever you deed it to has legal troubles. today you can no longer take bankruptcy and get debt erased. What happens is they file a Deficiency Judgment against you. And for the rest of your life if you get assets they are subject to that judgment. Defniation of a Lawyer. Some one you pay to protect your Assets from your enemies and they steal them for themselves. I wouldn't trust any Lawyer farther than I could throw them. Did I tell you my Eldest son Is a lawyer. My eldest sister and her husband inherited his parents house. However His sister who countinually had loser boyfriends has a life estate and lived in the house. And it was a burden. They had to pay the Taxes, Always having to spend money making repairs ect. Their lawyer told them in order to give it to the sister they would have to go to court and it would cost several thousand dollars. I told them bullshit. Just go to a abstractor and have them draw up a Quitclaim deed from you to her. Record the deed. and send the sister that deed by Fed X so she had to sign for it. And that's exactly what they done. Got shut of that burden. and did not pay some snake of a lawyer a cent. Not trying to give legal advice. But You can ask your scumbag lawyer if what I state is true.