Loading ...
Sorry, an error occurred while loading the content.
 

Re: [midatlanticretro] Computers as investment

Expand Messages
  • William Donzelli
    ... All these PeeCees and Windows machines we hate now will be worth money - and I think the timeframe will be far shorter than 100 years. Every class of
    Message 1 of 27 , Mar 6, 2013
      > In 100 years, if someone still has a working Windows 95 laptop, it
      > will be worth more than it is now. But, that'll only help your great-
      > grandchildren to cash in. But that will be because most similar
      > laptops will have disappeared, into landfills or recycling centers.
      > And, that still does not make it an investment.

      All these PeeCees and Windows machines we hate now will be worth money
      - and I think the timeframe will be far shorter than 100 years. Every
      class of gadget that had an impact on society becomes collectable
      eventually.

      > For something to be an investment, you have to have the expectation of
      > a return on capital -while- you own it... like land, stock shares,
      > real estate, and financial instruments.

      This is not true. You can certainly have investments that are solely
      intended for heirs, either trusts or living people. There are indeed
      people that do this in their estate plans - it is not an uncommon
      strategy.

      --
      Will
    • William Donzelli
      ... Yes, as part of a will. However, nobody does this. And I really mean *nobody*. One part of my profession is buying up the estates of engineers and ham
      Message 2 of 27 , Mar 6, 2013
        > A very good idea. Even better would be to put it in writing, as part
        > of a legal will.

        Yes, as part of a will.

        However, nobody does this. And I really mean *nobody*.

        One part of my profession is buying up the estates of engineers and
        ham radio operators, and see this first hand. Widows are burdened with
        piles of interesting stuff that they all to often see as crap. For
        every estate cleanout I do, I hear of ten that went in the dumpster,
        because of a lack of proper, formal estate planning. And proper,
        formal estate planning means a will with detailed and explicit
        instructions on what is to be done with the collection.

        Anything else, as good as the intentions may be, is skating close to worthless.

        So...broadcasting to everyone here...create or update your wills.

        --
        Will
      • William Donzelli
        ... Do you mean a Collection Policy? Nope, never heard of such a thing, either... -- Will
        Message 3 of 27 , Mar 6, 2013
          > True, be we hobbyists need to keep our crap under control, there is a
          > point
          > when a collection becomes a problem and we need to know where the "line"
          > is...

          Do you mean a Collection Policy?

          Nope, never heard of such a thing, either...

          --
          Will
        • Wesley Furr
          Do these detailed and explicit instructions need to be part of a formal lawyer-written and legalese-filled document, or will it suffice to have a written note
          Message 4 of 27 , Mar 6, 2013
            Do these detailed and explicit instructions need to be part of a formal
            lawyer-written and legalese-filled document, or will it suffice to have a
            written note with your signed name on it? Or just a formal will with a line
            saying to see a related informal document?

            Sounds like a good idea regardless of what one is collecting...

            Wesley


            -----Original Message-----

            Yes, as part of a will.

            However, nobody does this. And I really mean *nobody*.

            One part of my profession is buying up the estates of engineers and ham
            radio operators, and see this first hand. Widows are burdened with piles of
            interesting stuff that they all to often see as crap. For every estate
            cleanout I do, I hear of ten that went in the dumpster, because of a lack of
            proper, formal estate planning. And proper, formal estate planning means a
            will with detailed and explicit instructions on what is to be done with the
            collection.

            Anything else, as good as the intentions may be, is skating close to
            worthless.

            So...broadcasting to everyone here...create or update your wills.

            --
            Will
          • William Donzelli
            ... A legal will does not have to be a lawyer-written and legalese-filled document, but often it is a good idea. It is also a good idea to have all the
            Message 5 of 27 , Mar 6, 2013
              > Do these detailed and explicit instructions need to be part of a formal
              > lawyer-written and legalese-filled document, or will it suffice to have a
              > written note with your signed name on it? Or just a formal will with a
              > line
              > saying to see a related informal document?

              A legal will does not have to be a lawyer-written and legalese-filled
              document, but often it is a good idea.

              It is also a good idea to have all the information in a will, rather
              than on attached documents. The latter are prone to getting lost, and
              can result in a tangle if the will is contested.

              To do this properly, the collection should be clearly defined, so the
              executor knows what is to be dealt with. Major items in the collection
              should be identified and listed with descriptions, model numbers, and
              even serial numbers, if applicable. There should be clear guidelines
              for the executor so they know how to deal with the collection. There
              should be contingencies in case the executor can not perform his
              duties (this happens a *lot* - executors die too), listing museums and
              historic groups that could potentially help. There should also be
              contingencies in case beneficiaries can not accept what is willed to
              them (because they die too).

              All this is basic estate lawyer stuff.

              --
              Will
            Your message has been successfully submitted and would be delivered to recipients shortly.