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Re: [midatlanticretro] Computers as investment

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  • 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 1 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 2 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 3 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 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?

            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
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