Estate planning question


For estate planning purposes, how do folks pre-arrange for disposition of your system if family is not interested in having it? Any suggestions as to who might handle a $200k system in the Chicago area? TIA

cantorgale

There are a few dealers in your area .I have had good luck with Saturday audio.they sell used equipment. Good luck and hope your healthy.

I answered this on another forum, but FWIW, I think TMR is a good alternative because it offers a low hassle method of liquidating the asset, expertise in pricing and advertising, usually a quick turnaround, and, most importantly, finality. If the system is a significant asset-six figures-all that can be important if your heirs/executor don't know anything about this stuff. TMR makes money, so your estate won't get top dollar. But nor do you risk a long, frustrating dispute with a buyer in which your heirs are at a big disadvantage. A prearrangement with a dealer to consign is another option but will not offer the same level of insulation and finality.

Just leaving a note or informal instructions may not be enough. If your instructions are not in your testamentary document, you could unintentionally dispose of your equipment in a way you don't intend and will make liquidation harder. Think about putting it in your will. 

My kids only know my system is dad's "stuff'-no idea what it is, what it does, what its worth, how to sell it-left on their own, bad decisions are entirely likely. Obviously, the more valuable the system, the more care is in order-a $20k system is one thing, a $200k system requires a different level of planning.

Unpleasant to think about, but a lot of us are pretty far down the tracks-I don't buy green bananas any more. This is an important, but easily overlooked planning point for the inevitable date with Mr. Bones.

Thanks all for good thoughts. And yes, @mark200mph   I am well, thank kk God.  Pre-planning.  Thank you.  

For me, it will be up to the executor of my will. My wife is happy to support my habit, but she would not know a Triode from a Pentode. I don’t necessarily care about the equipment so much as what happens  to a lifetime of collecting music and the thought it just go into a dumpster really does make me sad.