[vcf-midatlantic] estate planning
billdegnan at gmail.com
Tue Oct 24 15:59:09 EDT 2017
Herb's comments about estate planning as it relates to the unique aspects
of vintage computing hoards has come up a few times lately including the
IBM PC near-compatibles thread. I created this new thread per his request.
Evan was talking to Bob Roswell about possibly doing a talk at VCF next
year on this subject.
I can tell you that I had insurance with a company called Collectibles
Insurance Services but I let it lapse because in my case it was better to
just lump in with my business as inventory insurance. It's easier to add a
rider in for vintage computers as business inventory in my case. Persons
who don't have an incorporated business might want to contact Collectibles
Insurance Services about their own collections. It may be "cold" to say
this but the best thing that can happen at least financially is to get the
big payoff from a fire or flood. It saves you the trouble of listing,
packing, shipping should a disaster hit your collection. You'll get
replacement value, which is a lot more than actual sales value when you add
in man hours to make the sales.
Most likely your collection is not worth as much as you think it is, when
you take sales labor into account. Spouses and family often don't care and
consider vintage computers junk, and when you go so will your collection
(junk pile) Lately how a lot of us acquire our systems, eh? Family
members looking to "donate" the items is a nice way of saying dump them,
let's face it. These things are NOT like an inheritance of gold coins and
one can't just sell them. One has to figure out what they have etc. Most
people don't want to do that or can't.
For these reasons describe above it's best to distribute what you have
before it's too late. Sell it slowly as a small retirement savings or 2nd
income. Or start your museum while you're still young and have the energy
for such things. You can't take it with you.
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