I went to an estate sale today because my wonderful wife saw a listing of a 1952 Indy 500 program. To my disappointment the listing was wrong but there was a bookcase full of Auto Racing history stuff that in 2 hours would be headed to the dumpster. Lacking spousal supervision I bought all of it at a very good price. 4 big boxes of books and magazines dating from 1950 to 2009, all in great condition. According to my "expert" easily worth 20x what I paid. It got me thinking about my personal "exit plan." Like most gearheads I have accumulated a library of stuff that my family thinks of as "junk." Same for things in my garage. I have left the names of friends they can trust to see that everthing goes to a "good home" at fair value to my survivors. I hate to think of all the neat stuff going into dumpsters because family members don't share a passion. Chuck Schultz Winfield, Illinois Friends help you move; real friends help you move books & race car parts!
I have a good friend that has accumulated a lot of really nice firearms,Buddy L toys and hand made knives and hundreds of other real cool items. His wife has said many time,,funeral at 11:00 AM followed by a giant yard sale at 12:30,, I have told her don't ask me to help carry him to the grave,,I intend to be a early bird at the yard sale! Wives and loved ones should know a close friend to help with all the junk we collect. When it's my turn a couple of my friends are going to end up a few things. I have a lot of 32 stuff and the Mrs. ain't no dummy,,she knows whats what and if she doesn't she knows Deuce Roadster,,he does. HRP
Cremation and scattered at Ft Point San Francisco. Oh you meant for my stuff. Our retirement home has 2 safes in the basement. I'm going to put a hand written will in one of them whoever figures it out will get my stuff. Truthfully once I'm gone I don't intend to come back. I hope that some of you fellas have the intestinal fortitude to go and snag whatever you need gawd knows I won't be needing it any more.
I don't have a lot of stuff, my lovely wife and son know who to consult amongst my friends, who they can/should give stuff to AND more importantly the few to have forcibly removed.
Nine years ago when I was first diagnosed with cancer and not knowing what the outcome would be,I contacted several friends who I knew would take care of various parts of my accumulation(about 3,000 knives;several automobiles;a large number of vintage wristwatches and firearms). All of this has been cataloged on discs(with backups) with pictures,descriptions,and approximate values.We both had wills written up several years ago and if the need arises we update them as needed. These people I trust implicitly to make sure that the items are disposed of and my wife gets a fair price for them.My kids have no interest in anything except maybe several firearms.I'll let them fight over those. The rest of the stuff will be sold off at either an auction or a huge yard sale.I already have people wanting to know when that is going to take place.
All the "stuff" is an important part as some of us collect a lot of parts and memorabilia. Another consideration is the vehicles themselves which if titled in your name alone may become part of your probatable estate and therefore taxable. Check if your state will allow a TOD (Transferable on Death) or WROS (With Right Of Survivorship) attachment to your vehicles title. If so, check with your atty or estate planner to see if it would benefit your needs to enable a transfer and avoid probate. It can accomplish a lot without having a living trust and you still maintain complete control of the vehicle.
I have sent a few rare auto books to The Museum of American Speed Library (Speedway Automotive). It is my understanding that the museum will fold into the Smithsonian Institution group when Bill passes. They also acquired some engines of mine and I have bequeathed another one. I expect to send some more books to then shortly. If you have seen the museum of it's web site it is really something and will keep lots of stuff available for research or just looking at in the future. Beats the dump.
My daughter won't know what to do with all this shit and most of my friends are my age and older so look for an estate sale. Hopefully in another 40-50 years.
i've started labeling things so whomever has to sort through my stuff has a fighting chance, and in case i forget!!! i've told the wifey that it's all valuable and none of my buddies have anything stored here! i have enough life inurance so she can pay for some dumpsters or have a big auction, her call!!
It's good to plan ahead so family or friends are taken care of. We have a local vulture that comes visiting whenever someone gets bad health news. Also when there is a death. He's there before the corpse is cold, offering to "help you get rid of that stuff for a fair price". I have told the wife to greet him with a shotgun if he shows his face around here!
Good ideas here. My wife and I were talking about setting up our wills the other day, and I don't have a clue how to handle all my car stuff. Probably have something set up for it to be sold at auction and my wife gets the proceeds.
What to do with your estate is not a pleasant subject but, sadly, is necessary. My will specifies who is to help with the disposal of what, and who in my circle receives what. It makes life soooo much easier for your survivors.
Well I have a different plan my wife does my swap meet sales and knows the value of every part and car I have ... That said over the last few years we sold off all my extras except for whats needed for my projects and are kept close to the said cars . She has a book of all past sales for a guide along with a high low price book on my toy collection and race cars ,we have a family that will help her sell off my stuff and they have no interest in cars ,if we go at the same time our will leaves all to our church the end.
"Life is like a vapor that rises up and is gone" Which brings us to a interesting question,.... do you own your stuff, or does your stuff own you ? I have met a lot of people over the years, that just simply can not let go of stuff,.... Stuff that others have owned in the past, and someone else will own it in the future,.... We travel through this life collecting "Stuff",.... Stuff we put away for the future,... then 30 or 40 years go by,.... And we look at the stuff we never used,.... but just cant bring ourself to part with it,.... until "The big day comes" when we are gone, and our stuff stays here. to become somebody else's "stuff" A friend once told me, "Don't love anything, that can't love you back", He was totally right,... This should help with our life's priorities,.... but I have barns full of stuff,.... And some stuff I want to pass onto my Sons, Grandchildren,.. friends,..... etc. But I am finding, the things I posses, that have sentimental value to me. Doesn't have the same sentimental value to my sons,...... and never will. The only thing we truly posses in this world is our relationships with others, and the moment at hand,.... nothing more. The last thing I would ever want, would be for some material item I had possession of during my life, to cause a rift between people I love,..... And I have seen this happen just about every time I have had a relative or friend pass from this life to the next. I told my Wife, when "The big day comes" Let each of my Sons pick out a car, and auction off everything else,.... if they both want the same car,... Auction it off as well,..... When you draw your final breath,.... your "Stuff" won't be on your mind,...... what will be on your mind,... is those you love. And if those you love think about your stuff first,....just think of what a example we have set for them. (Just my 2 cents worth)
Always have an exit plan, even on entering a room, case for weapons or potential weapons, study everyone in sight. Be nice to all while secretly planning how to kill them all. Then when one of them gets the better of me and I take the great dirt nap of eternity they won so they take the spoils. Thats how it works.................Right? Doc.
That's how it use to work,.....Huh ,..... Guess I lost my edge,... Oh, and the invitation to stop by for Christmas Dinner,..... we better put that on hold,... just say'n
PS Safariknut, some of my mates told me I had an unhealthy preoccupation with knives. I ALWAYS carried at least 4 on me when going into combat, even used one a couple of times. But 3000 knives?? DAMN man!! I'm impressed! All mine were modern though and made for fighting, and I was only the medic!! Doc. I think my edge is at least 'dull' now, guess we will catch up on the 'other side' Harms Way!!
Why do all of you guys assume your wife will outlive you? If I was married I'd hope she would kick first, then you could have some real fun.
Wife first..........kids second............big auction/yard sale (proceeds to wife first kids second)..........the rest to whoever wants it. I don't intend to referee any of it as I'll be occupied getting settled in the Mansion that's being prepared for me as we speak. Any born again Christian can explain the mansion deal to you if your interested (and you should be before it too late) Frank
Since I have no wife or kids.I have told my brother and parents what to do with my cars and parts if I croak.I want to be sure that cars and parts are not destroyed.Good to have it clear what to do.
My kids are going to split it right down the middle. I built their cars first so that's no problem. I own both of 'em still as they are not old enough to drive yet. But they know they are theirs and there will be no fighting. As for the garage full of "stuff" if my son wants it will be his and my daughter can have the pick of what she wants. IF I have a good Son n Law by then he may have a few things my son doesn't want. Of course my wife has first rights to anything. It's pretty easy for us it's all Ford and Chevy stuff mainly and some old tools and machinery. But ultimately if they gave it all away it's their choice and if they can remember me happily on that note then that's good enough for me. The Harleys now I'm taking one of 'em with me! Tim
I'm very surprised at some of the responses here. You shriek with horror at the idea of someone hauling a junk car to the crusher, but when confronted with the realities that your time here is not endless, you shrug and say, "who cares, I'll be dead". First of all, not caring about stuff is one thing, to not give a thought to the living is quite another, and it shows an almost complete lack of human compassion. It is in fact a crude and vulgar display of selfishness. A trust is the best way to protect and provide for your stuff, and people. It will keep the courts, state, and anyone else from stealing from your heirs, or having your stuff destroyed or sold for far less than it is worth. It also circumvents some of the problems often associated with a common will, although one of those is essentially included in the trust. A lawyer is needed to properly do up a trust, and the first visit is always free for consultation. You would be surprised, at least most of you would, with how much you are actually worth already. It most likely is far more than you think. A trust can also allow you to use your estate to continue to provide a revenue stream to organizations you love, such as the HAMB, NRA, church, or other organizations. It allows you, for instance, to give money to your kids at certain intervals, or only with other responsible persons monitoring their needs, etc. It is a very good way to secure what you have worked for.
The Jalopy Journal
