Planning for your eventual demise.
bobbyw8469
Posts: 7,139 ✭✭✭
No one likes to think about it. However, estate planning is absolutely vital, especially with the values of cards skyrocketing. How many of you have plans for what happens to your collectibles when you pass away?? Is just verbally telling someone what you want good enough?
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My plan is selling everything off when I retire. Put the money away for the kids and (hopefully) grandkids.
I also may spend it all on POP TARTS. Haven't decided yet
those boxes checked here.
definitely important.
I gave my wife a list of dealers NOT to sell my collection to.
Kiss me twice.....let's party.
+1
PC Walter Payton - Bear Down!
What happens to your cards at PSA being graded if you pass away while they are in their possession??
That is pretty hilarious. I thought about telling my gf that, but we are often together, so if something bad happens, it is probably taking both of us out.
I'm 46 years old so based off life expectancy tables I should live another 35 years or so. I hope my current submissions get back before then. It might be close.
They will be shipped to your house just like they would be if you were alive.
To answer your question, if you have a will you should include them in there. Way too many horror stories of disputes between family members after someone dies without a will.
That’s easy.
They go in the coffin with me.
Who says you can’t take it with you?
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
im one of the "lol"s on his post, however this brings up a pretty vital point.
just as important as having a plan for the family in what to do, having a plan for "what NOT to do" is equally, if not more important.
I told my wife to contact BBCE. If I croak, the last thing I want is her caring about some cards and squeezing out max value. It'd be sold in one swoop and I know they wouldn't rip her off.
Perfect advise. Simple for your wife and contacting BBCE will result in a fair outcome.
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Why BBCE and not CNN?
Coinsof1984@martinb6830 on twitter
What happens to your cards at PSA being graded if you pass away while they are in their possession??"
That will be the one that just never gets graded my friend.
I told my wife to contact BBCE. If I croak, the last thing I want is her caring about some cards and squeezing out max value. It'd be sold in one swoop and I know they wouldn't rip her off.
ditto this
My son gets all. It is known. He just takes it.
I think about that a good bit. I wonder how often this happens with their turnaround times
I assume they just charge your CC and eventually send them back, unless you call and cancel it.
That's crazy.....so the order would get cancelled and thousands of dollars worth of cards would just become unaccounted for??
I don't know......I just wonder what would happen in situations like that. I am sure it has already happened as well, with wait times almost approaching a year.
When you call and cancel the order, they send the cards back to you ungraded.
Except I got two boys so its fifty-fifty. What they do with it (sell, keep, throw on the fire, etc.), I could care lees.
My wife has instructions on how to submit all PSA graded cards to the consignment service I use. Everything is sold, and funds direct deposited into our account.
https://forums.collectors.com/discussion/comment/12611163#Comment_12611163
I have been selling and continue to plan on selling mine over the next 2 years.
I am 50 and I would really like a Hellcat!
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I can't afford to die; I'd lose too much money.
What is making people think that they wont get graded and shipped to your house just like they would be if you were alive? If everything goes right PSA will not even know you died.
whole new meaning to the "grader of death", huh?
not that'd we ever know, but has anyone heard of someone croaking from a heartattack after getting either the worst grades or a sudden lifechanger 10?
I'm doing the same, but am saving it for a Chevelle.
Evening,
I've been actively planning my Demise for Decades! With some of the substances I've ingested and continue to, its a Miracle I'm still here!
YeeHaw!
Neil
Give it all to my brother or my niece they can do as they please I don't care once I am gone I ain't coming back. It's a one way trip.
If no one is left sell it all give it to my local animal shelter and other charities. End of story and I am not scared of death or dying (sure pain sucks) I enjoyed myself and would not want to live 1000 years. I am 40 now so it may still be a while yet. I rather not reach 90 to be honest 70 to 80 would be more than enough.
I do believe in God so it helps a whole lot. And yes I also believe in science and that the Earth is billions of years old and so on and so on.
I'm nowhere near death from natural causes but it is something I have thought of. I have a small but pretty valuable collection with one massive card and another being an insanely massive card. Those two will be sold off once it's time to retire. Hopefully at 55 but by then, maybe sell one and hold off to the other for a few more years. Since I also have money invested as well as my 401K, I should be okay but as for the rest of my cards, perhaps sell them when I'm 65 and then start also collecting SS when I turn 70 (in order to max that out). I think I should be fine but I am not dying with these to answer OP's question and I want to be able to sell off and also enjoy the money that they bring at that time.
If I were to die today, well honestly, I would care because I was dead my wife does know more or less the expensive ones, all she has to do is open our safety deposit box and that will let her know but she is also aware of Heritage auctions and she knows not to to sell off anything either until retirement and I believe she will not do anything drastic until then. If she does, like I said, I'm dead anyways so I don't think I'll care too much lol.
I respect the way Muhammad Ali lived and died he was strong that is the way I want to be and go out.
Brain dead, but hanging on?
Hopefully, I don't have anything left by then, but the remainder goes to my son to get what he can on Mercari. His mom is well taken care of otherwise.
Ali was strong physically when he was young and tough mentally when he got old. That is what I mean. I get it most are scared of death and all that I just don't mind it I see it as finally being at full peace and the end of one life. Like I said I believe in God so I don't worry about something short as 80-90 years it's small potatoes and comes to an end.
Worry and panic for what? What is the point.
I understand for some this life is all there is and they want to be here that's OK. I just don't feel like that never have. I am OK with the time I have and that is that. To me life is a test or many tests. I have always seen this place as temporary even as a young kid I felt like that.
I imagine because a credit card company would eventually shut the card off from a dead man who stopped paying his bills??? I don't know....Everyone is speaking theoretically here because none of us are dead.
I guess if you're all alone that could happen.
69 or 70? Love either.
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Ali was anything but. I worked with him for some of his later time and he was 100% mentally there. He'd do magic tricks, pull pranks, and make everyone crack up. Parkinson's robbed him of his motor control and some of his ability to speak, but he was smart, funny, and clever to the end.
That's, honestly, awesome to hear. I've got a great-uncle who can't even speak, but is totally there.
Balrog is sending me and my cards to Valhalla...
(Insert photo of dog looking at camera quizically)
(Show photo of pool with gas grill on pontoons)
(Show photo of Steve Vai or Eddie Van Halen or Ted Nugent rocking out)
One big fireball! It'll be awesome!
If you think there’s a chance you are going to die when you send cards off, I would suggest using the Collectors Club submissions for that specific submission as it will be already paid for and you’ll get them back graded either way.
This will only work if you know you are going to die, though.
Some of you are great at planning, though, so...
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
Years and years ago, I showed my wife an issue of SCD with a picture of Mr. Mint on the cover and explained that when I croaked she shouldn't sell to him. My two youngest kids (5 and 3 at the time), were in the room, and a bit later I discovered that they had colored all over the front of the magazine adding devil horns and a tail on said card dealer (RIP). At least they were paying attention.
I have a buddy that's a card collector/investor/dealer (and likely to outlive me seeing as he's only a baby) who will be quite helpful in ... cough ... 50+ years when I die in a skiing accident or during an IronMan competition (okay, more likely choking on my pudding).
bobsbbcards SGC Registry Sets
1970! Big block 4 speed. I've wanted one for many years and never thought it would be a possibility. I had a health scare 6 years ago and started re-evaluating. I didn't realize how much value I actually had in my collection and that my dream car is actually a lot more of a reality with that money than just a dream if I had to finance it. After piecing out my collection to maximize value over the last 4 years, I also came to the conclusion that I'll even get to keep the best of the best of my cards, which is a nice bonus. I've sold off most of the cheaper, slow moving stuff, and now what's left is the expensive and in demand stuff that I don't have an attachment too.
Good question bobbyw. Obviously, just verbally telling someone your desires is risky. That person could forget details over time. Or another person might insist he/she heard something different. Best to capture your wishes in a will.
Mine simply gives my son, a huge baseball fan, all my cards. Free to keep or sell them. My wife jokes my cremated remains will go in a PSA holder.
This reminds me of a guy I knew. He was an older guy who passed away at about 81 years old, but had collected since he was a kid. Not a lot of crazy valuable stuff, but large quantities and he was very passionate about it. About three years after his passing, I was asked by the family if I was interested in buying the collection. We settled on a price and I hauled out five truckloads of stuff. It was all pretty disorganized and I hadn't been able to look through it all before purchasing.
Fast forward to a couple of weeks later and I am still looking at stuff for the first time. I opened a box that had a bunch of cards, but I also found a ziplock bag of powdery grey stuff. I initially had no idea what it was. Then I called the person whom I had dealt with and asked her if her dad had been cremated. Her immediate response was, "Oh ****! We left this ashes in with his stuff!"
Yep. I'd gotten his ashes along with his collection. So I drove them back to her house and dropped them off. Lol
Do it!!!!
I’m getting older and don’t want’ to say why didn’t you in 10 years. No sons to inherit it and this aligns with sold too soon as well.
Last summer sold my Dr. J rookie at the right time when it spiked and sold my Gretzky rookie too early and can’t even look what it would go for now, however landed this. Sorry, don’t mean to pimp, however no regrets at all. Still have a ton of my collection and I can’t drive my Gretzky rookie. People say you only live once, I am saying you only die once and live every day!!!!!!
Oh my, a 4 speed. Chirping second and maybe third is a magical feeling.
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What a beauty. In the late 80's I had a 944 and it was badass, handling off the charts. I ended up getting my license suspended for a year. Later on I totaled it.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.