Estate Matters

[Pat]

While I hope not to check out anytime soon, it's time for a periodic estate planning. A question our attorney asked when reviewing our assets concerned disposal of the '40 should I meet an untimely end. It's a serous quesion as my wife isn't that current on wheeling or dealing cars (neither is my attorney) and I'd hate to think she would be taken advantage of in an estate sale. Has anyone else dealt with this and considered options?

 

[Al Wohlstrom]

Yeah, I got divorced!

 

[Jim Craik]

First off, I personally hate to think of our site without Veek, who will keep me in line

As to your 40, thats a tough one. Perhaps you could steer your wife/family to someone you trust here, who could give advice about value and the best way to market a GT40.

Frances says that she will bury me in mine, but I know my daughter has her eye on the Batmobile.

 

[Pete McCluskey.]

First off, I personally hate to think of our site without Veek, who will keep me in line

ile.

Lonesome Bob?:lipsrsealed:

 

[Mike Drew]

Veek,

Yours is a very good question. I have a friend who has over 100 cars, including both a Safir and genuine GT40, and his wife has zero interest in them, and matching knowledge about them. He hasn't yet stepped up to the task, but he wants to build a complete portfolio on each of his cars, detailing their history, purchase price, perceived value at the time the portfolio is created, etc. so that if his wife should ever find herself with the task of disposing of them, she would have something to go by.

I would think that an SPF dealer would be a good ally in your case, as they would be better positioned to market the car to the appropriate target audience than XYZ Used Car Lot would be. So I say pick your favorite dealer, and have an arrangement in-hand ahead of time so that if the car has to be sold in your absence (for whatever reason), they are positioned to handle the transaction on your wife's behalf.

 

[flatchat(Chris)]

Seems to be the buzz word over here at the mo.too "successional" planing -- for any property or business.
In my case, it'd be mortgage everything to the hilt and pass on the debt :laugh:

 

[Pete McCluskey.]

Gold!!!:thumbsup:

 

[Pat]

Thanks all. Being a firm believer in Murphy's Laws, I figure a good estate plan will render needing one anytime soon unnecessary. In that vein, I'll also be sure that specific instructions are given that Jim and Lonesome Bob are not seated together on the offhand chance they attend my funeral

On a somewhat related note, there is a really nifty car museum in the little town of Mt. Dora, Florida run by a fellow that has a restoration/classic brokerage business in conjunction with it. His latest big money maker is the retoration of classic hearses. It seems that more and more car guys are wanting to take their "last ride" in a classic restored vehicle. He sells them as soon as he finishes them to funeral homes offering the service at a premium as part of prepaid funeral plans. Some of his restorations are absolutely creepy. Here are photos of a couple of his cars. If I remember correctly, the older car has some history in that it took Marilyn Monroe on her "final ride". By the way, if she was still alive, she'd be 86!

 

[Doc Kaler]

Veek, you can seat one on the far left and one on the far right.:laugh:

I just want my last check to bounce........

 

[Pat]

Thanks all. Being a firm believer in Murphy's Laws, I figure a good estate plan will render needing one soon unnecessary. In that vein, I'll also be sure that specific instructions are given that Jim and Lonesome Bob are not seated together on the offhand chance they attend my funeral

On a somewhat related note, there is a really nifty car museum in the little town of Mt. Dora, Florida run by a fellow that has a restoration/classic brokerage business in conjunction with it. His latest big money maker is the retoration of classic hearses. It seems that more and more car guys are wanting to take their "last ride" in a classic restored vehicle. He sells them as soon as he finishes them to funeral homes offering the service at a premium as part of prepaid funeral plans. Some of his restorations are absolutely creepy. Here are photos of a couple of his cars. If I remember correctly, one of his older cars has some history in that it took Marilyn Monroe on her "final ride". By the way, if she was still alive, she'd be 86!

 

[Jim Rosenthal]

Oh, they aren't seated together, Veek. Bob is playing in the band, with me. Jim's just taking it all in....