Have you thought about the collections you have spent years piecing together? They are valuable to you, but what becomes of them when you are gone?
As you think about your assets when you do your estate planning, don’t neglect these collections. Whether they are valuable or not, they are still an important part of your life and your estate.
Collections often matter most to the person doing the collecting — not to the heirs who must sort through the possessions once the collector is gone. To ensure the collection is properly handled, make sure you identify the pieces with values and photographs as well as notations of any insurance and directions on how they should be handled. Don’t forget to include any appraisals that have been conducted.
If you don’t have a family member or friend who would treasure your collection, you might consider gifting it to a museum or historical society. Or perhaps you can leave instructions for the sale of the collection, with proceeds to be distributed among your heirs.
Do you have a collection you neglected to put in your estate plan? We can certainly help you make an amendment. We are ready to help ensure these aspects of your life are properly included in your estate plan!