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 Replies: 17 / Views: 2,316 |
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Pillar of the Community
Canada
1177 Posts |
has any one done this, being 19 years old and having all my savings up into Sivler, Gold and coins, what happens if I walk out onto the street and get struck by a car (knock on wood)or any serious situation like that, who will my coins go to.
i was thinking of writing up a will and determining who my coins would go to if I did pass or something did happen because I would HATE to see them in some of my family members hands (half sister and brother ect)
has anyone wrote a will and maybe have it in their safe ect?
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Pillar of the Community
United States
5850 Posts |
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has anyone wrote a will and maybe have it in their safe etc No, but now I'm thinking I should probably write a will and include the combination of my safe in it, just in case anything happens to me... |
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Pillar of the Community
United States
593 Posts |
I don't know about Canada, but in the U.S. things are vastly simplified if you can name a single person you trust as executor without bond. Essentially that means they can do whatever they want, but if you have one person you know you can trust to do the right thing (like a parent or spouse), then they distribute everything at their discretion. You simply provide a list of where you want certain things to go (or not to go).
If you don't have such a person, you are left with trying to spell everything out in a detailed will which can get complicated and more expensive.
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Pillar of the Community
United States
3276 Posts |
19 years old and writing a will? Man some people are prepared for anything. I'm 23 but I'll worry about that when I turn 100. At least I'm married so I know where my stuff is going... to my wife to sell my coins at a garage sale  JK, she knows better. |
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Pillar of the Community
United States
3276 Posts |
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No, but now I'm thinking I should probably write a will and include the combination of my safe in it, just in case anything happens to me... Barry, if you need my full name and address just let me know. |
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Pillar of the Community
 Canada
1177 Posts |
well I'm not thinking about writing one now, but just an idea that was brought up by a dealer of mine last week, kind of got me thinking about my fellow CCF friends. I'm in no hurry to pass away but I would really hate to get a great deal on a coin knowing it was from a diseased collector and sold instead of it becoming a heirloom
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Pillar of the Community
United Kingdom
4208 Posts |
I wouldnt bother with a proper one until you know...you might actually die.
Id write a will, long hand, in black ink, unnoficially stating what you want done with your stuff. Sign it. If you have a family seal, seal it in an envelope. Leave it with any banking stuff you have so they'll find it should you cop it.
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Pillar of the Community
United States
3276 Posts |
Or tell your family member where your coins are, and if you croak they should sneak the coins and not let anybody know. lol.
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Pillar of the Community
Canada
1177 Posts |
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Pillar of the Community
United States
1200 Posts |
Check out your national/provincial laws/regs on wills, estates and inheritances before you put your trust in a hand-written "homemade" format will. Depending on the applicable laws governing wills and estates where you live, something like that might or might not be worth the value of the paper it's written on. This isn't really a realm for amateurs or an uninformed DIY approach.
In terms of those relatives you don't want to get your stash -- it sounds like getting your stuff into a storage location where they wouldn't be able to grab it if they "got there first" may be your biggest problem. Will or no will, possession is still 9/10's of the law and the winner of the race is the one who gets to the finish line first.
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Pillar of the Community
United States
597 Posts |
!LISTEN! You need the will AND you need to put your coins in color makerd boxes or put color coded dots on items example in your will it says sell blue coins 1 at a time on ebay. red coins sell on ebay in lots green coins ship to teletrade auctions black coins ship to heritage auctions and included phone numbers of auction houses |
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Pillar of the Community
Canada
1177 Posts |
that would be a good idea repuman, everyone needs to know that I do NOT plan on doing this as about 40% of my coins were passed down from my grandpa and dad and if for some reason I do pass before either of them they will regain possession, my 9 year old nephew has already held an interest as he spends a lot of his money on coins and tokens but its way too early to determine whether or not he'll stick with the hobby. as for me, maybe in 60-70 years i'll write a will, but as for now, hopefully the my close friends and family can take over :) I've made it clear that I want most of my coins as heirlooms as the majority of my collection is high graded, low mintages, certified or highly sought after coins!
i only did this thread to see if anyone has done/thought about doing it!
thanks guys :)
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Pillar of the Community
United States
2335 Posts |
I' got to agree with Fat Freddy. I work for an estate sale company part time & have seen a lot of things you wouldn't believe. It's very common for the family "dirtbag" to slip over to the house before anyone else & take everything that is portable & valuable. Many times this happens before the deceased is actually dead. I put "dirtbag" in quotes because it's not always who you think it would be....lot's of times it's an otherwise upstanding citizen that does it.
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Bedrock of the Community
United States
20753 Posts |
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19 years old and writing a will? Man some people are prepared for anything. I'm 23 but I'll worry about that when I turn 100. Not to sound a bit on the pessimistic side but I still remember that by the time I graduated from High school, at least 10 kids I knew died. By the time I graduated college, only a few left from grade school, all others had passed. Now I only know a few people from the past. All others are dead. Your never to young to die. As to a will, really, really a smart thing to do. Look around at who may be still here when your gone. Any interested in coins? Any that wouldn't just blow it all? And do not rely on those internet type wills or those premade ones you can buy at a computer place. Way to many get contested due to insufficient legalities. Hiring an attoney to make a really legal one does several things. For one they usually keep a copy. They will tell you where to place your original and seveal copies. They have legal witnesses to also sign them. It has always amazed me at how many valuable things we all save get just dumped due to no one knowing what is what. Picture all your coins sold at a pawn shop. |
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Bedrock of the Community
United States
17884 Posts |
Once you are of legal age a will is not a bad idea. Sure you may be young and healthy, and 50,000 healthy people a year are killed in auto accidents. And there are all kinds of other "sudden death" scenarios for young healthy people. Quote:
At least I'm married so I know where my stuff is going... to my wife to sell my coins at a garage sale Do you ever ride in a car with your wife? What if both of you are killed? If you are both killed who died first? It can make a difference in whose wishes are followed for disbursal of possessions. These kind of situations can be covered in the will. |
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Pillar of the Community
United States
900 Posts |
I do not know the law in your province, but I can give you some very sound advice. Go to a lawyer. I only charge $100 to write a simple will. I suspect you can find several lawyers in your area who will do the same.
A handwritten (holographic) will may be just fine where you live, as long as you have the proper witnesses and acknowledgements. But, why take a chance?
Your province probably has an intestate statute that determines how your property will be distributed if you pass away without a will. This may, or may not, be acceptable to you. Again, why take a chance?
Please look into having a professional prepare a will for you. Your peace of mind is probably worth > $100.
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Replies: 17 / Views: 2,316 |
Posted 11/12/2012 3:46 pm
