RE: [midatlanticretro] Computers as investment
- 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...
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
Anything else, as good as the intentions may be, is skating close to
So...broadcasting to everyone here...create or update your wills.
> Do these detailed and explicit instructions need to be part of a formalA legal will does not have to be a lawyer-written and legalese-filled
> 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
> saying to see a related informal document?
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.