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

RE: [midatlanticretro] Computers as investment

Expand Messages
  • 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 1 of 27 , Mar 6 12:44 PM
    • 0 Attachment
      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 2 of 27 , Mar 6 1:00 PM
      • 0 Attachment
        > 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.