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

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.

$$ numbers are only half of it.  Your survivors will have to deal with enough after you pass--do you want to burden them with even more? Of course, none of us know when that day will come

TRM  One item that would be helpful for whoever handles your estate, insurance claims, family, and for your own satisfaction, is to use AI.  

Put AI to work.

Create an inventory list that includes photos (it will be retrieved from the web), list price, and the price you paid. Current value - that's tricky. And for your own satisfaction, tell it to include specs. And anything you may want. Ask to include the approximate years it was or is on the market. Will the report be 100% accurate? Of course not. Will it be close? Closer than you think. If the photo is wrong, tell it and to go back and keep looking. Make adjustments along the way. 

Tell it to produce 2 color PDF reports. One for the insurance company, executor, or family. 2nd one for yourself, which adds all the info no one would care about. At the end of this whole process, everything will be tidy. My children do show interest, which is great; they can divvy up some of it and get some idea of what the values may be, or at least the valuation ratios. Whatever's left, the go to is TMR. No need to burden them to sell piece by piece.