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You die tomorrow, what will happen to your Collection?

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Bedrock of the Community
United States
12926 Posts
 Posted 11/19/2011  4:24 pm  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
My point is this - whatever you decide to do with your collection (large or small), please do not burden your heirs with a veil of secrecy. Whether your estate or collection is a sizable one or just a few coins, being honest with your heirs allows them to plan accordingly and possibly avoid some tax liabilities. And no one (that I know) wants to be a burden on their children or heirs.

Remember that your speaking from someone with a family that is trust worthy, maybe. Also, note there are many with no families at all. And even more so, families located to far to even know when and what happened.
For example in my Dad's case, no one knew he died, to far away to constantly check on. Same with my grandparents which is why everyone helped themselves.
As to keeping families in the dark. There too your mentioning this from a nice family viewpoint. One of my neighbors USED to brag to his family about his Gold coins. One of his grandkids ended up robbing him for those for drugs.
Yes there are many nice families and then too, some not so nice. I'll just leave it all to this forum I guess. But now what to do with the old cars?

Too big for most people's garages. Wonder what a junk yard would pay?
just carl
Valued Member
United States
193 Posts
 Posted 12/03/2011  10:20 pm  Show Profile Bookmark this reply Add mwr1550 to your friends list Get a Link to this Reply
Me, I'm going to take them with me. I'll put it in my will that they all should be dumped into my casket which will then be locked and buried.
Seriously though, if I died tomorrow I'm sure the wife will get her hands on them and hopefully she'll divide them up between her and the kids. I think they are all smart enough to either hang on to them or if they do sell them they hopefully know that they can take them to our local coin dealer (who I know pretty well) and he'll give them a fair price.
Pillar of the Community
527 Posts
 Posted 12/04/2011  7:34 pm  Show Profile Bookmark this reply Add TheDanMan to your friends list Get a Link to this Reply
I haven't decided what I am going to do with my collection for three reasons:

1. I am only 26-years-old as of this writing.
2. I don't have a wife or kids.
3. I don't know what I'm going to do with it all.

I do have a 2-year-old niece who I adore, so if anything were to happen to me at a young age, I may want her to get all my valued possessions. But if I have to write a will early, I will make sure that I state specifically the value of the coins I have and what to do with them.
Pillar of the Community
United States
632 Posts
 Posted 12/04/2011  8:15 pm  Show Profile Bookmark this reply Add merclover to your friends list Get a Link to this Reply
just carl, I don't want to live anywhere near where people would do that!
Pillar of the Community
Canada
1610 Posts
 Posted 12/04/2011  8:52 pm  Show Profile Bookmark this reply Add Apollo to your friends list Get a Link to this Reply
I'm 14, so unless I get hit by a schoolbus (no offense wheezy), I hope not to go to that place any time soon. If I do somehow kick the bucket, my sisters would fight over my coins and drop them all on the floor.
Pillar of the Community
Canada
1727 Posts
 Posted 12/04/2011  9:55 pm  Show Profile Bookmark this reply Add coincollect1 to your friends list Get a Link to this Reply
10Xloupe, could you make a thread and post some of your coins?
Pillar of the Community
United States
2150 Posts
 Posted 12/04/2011  10:30 pm  Show Profile Bookmark this reply Add jokingjoker to your friends list Get a Link to this Reply
I'll make you a deal just Carl, you leave me yours or I leave you mine, who ever dies first. I would love to leave them to my daughter but I know my Ex wife would have is spent before my daughter even had a chance to look at it.
Pillar of the Community
Canada
1610 Posts
 Posted 12/04/2011  10:32 pm  Show Profile Bookmark this reply Add Apollo to your friends list Get a Link to this Reply

Quote:
10Xloupe, could you make a thread and post some of your coins?


Great idea!
Valued Member
Philippines
383 Posts
 Posted 12/05/2011  07:52 am  Show Profile Bookmark this reply Add Pandesalapi to your friends list Get a Link to this Reply
I hope my wife will be able to contact my numismatist friend and be able to sell all at maximum amount for them to enjoy the proceeds.
Bedrock of the Community
United States
12926 Posts
 Posted 12/05/2011  09:52 am  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
1. I am only 26-years-old as of this writing.
2. I don't have a wife or kids.
3. I don't know what I'm going to do with it all.

Many, many people die a lot younger than you every day. At any age a will is important if you want anything and everything to go a certain way. Mostly important is to make sure such a will is found. A will lost in a pile of papers in your place is useless.

Quote:
just carl, I don't want to live anywhere near where people would do that!

No one really does but people are people almost everywhere. Usually we just don't recognize that fact. Just how many people would tell a cashier in a store that they got TO MUCH money back?
just carl
Edited by just carl
12/05/2011 09:54 am
Pillar of the Community
Turkey
638 Posts
 Posted 12/05/2011  10:39 am  Show Profile Bookmark this reply Add molydeii to your friends list Get a Link to this Reply
just_carl, I am really frightened by your story of a grandkid robbing his grandpa for drug money.. where the world is going, it's entirely beyond me. About the car, it's a beauty there... remind me to ask Richard to arrange me you in the nest Secret Santa, so that I may have the chance to get the car.:)) It's superlovely. I can give you my Italian Marea in exchange, yes:)
Pillar of the Community
United States
1142 Posts
 Posted 12/05/2011  8:34 pm  Show Profile Bookmark this reply Add Wornslick to your friends list Get a Link to this Reply
I told my wife that if something does happen to me and she wants to sell our collection she should try and sell it here. I am sure someone would be interested in it, I think.
Wornslick

ANA R3154225

" The Sunshine Bores The Daylights Out Of Me "
Pillar of the Community
United States
1486 Posts
 Posted 12/05/2011  8:47 pm  Show Profile Check Coinstar's eBay Listings Bookmark this reply Add Coinstar to your friends list Get a Link to this Reply
my daughter gets it--she helped me build it
"The internet? Is that thing still around?" Homer Simpson.
Bedrock of the Community
United States
12926 Posts
 Posted 12/06/2011  11:19 am  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
just_carl, I am really frightened by your story of a grandkid robbing his grandpa for drug money.. where the world is going, it's entirely beyond me. About the car, it's a beauty there... remind me to ask Richard to arrange me you in the nest Secret Santa, so that I may have the chance to get the car.:)) It's superlovely. I can give you my Italian Marea in exchange, yes:)

Such stories are really a lot more common than people know about. Many, many are sort of not published. Many are also pushed aside to make crime reports look better. Around where I live, large city, it is really not smart to even mention a coin collection to friends, neighbors and/or sometimes relatives.
As to the car, only just turned 24,000 miles and it's a 1967.

Quote:
I told my wife that if something does happen to me and she wants to sell our collection she should try and sell it here. I am sure someone would be interested in it, I think.

I suspect many here thought I was kidding about leaving this mentioned in a will or telling someone to do just that. It is something I'm really considering since no relatives within many hundreds of miles. And those have no interest in coins.
molylii: imagine the cost of postage, handling and shipping from me to Turkey for that car.
just carl
Edited by just carl
12/06/2011 11:28 am
Pillar of the Community
527 Posts
 Posted 12/07/2011  8:26 pm  Show Profile Bookmark this reply Add TheDanMan to your friends list Get a Link to this Reply

Quote:
Many, many people die a lot younger than you every day. At any age a will is important if you want anything and everything to go a certain way. Mostly important is to make sure such a will is found. A will lost in a pile of papers in your place is useless.


There is always the possibility that somebody could find a will, tear it up and feign ignorance by saying they didn't find any will.
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