Vault Services
CardGeek
Posts: 486 ✭✭✭
Who gets the cards when you die? Does the vault service just keep them? I'm sure some percentage of cards are going to go unclaimed after years of being in the vault. Do these services have an obligation to track down your heirs? Is your wife going to be aware of what's in the vault, just in case?
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This is why I plan to live forever. Death is too complicated.
Good question. This is why one must have a Trust in place nice and early.
I'm probably in a minority here, but I don't see how having a Trust answers any of the above questions.
PSA should know the answer as they must have dead people's cards at their facility. We have gone through 2 years of Covid and the cards are taking upwards of 18 months to grade. Thousands of submitters. Some died from Covid, drug overdose, alcoholism, Cancer, Flu, Murder, car crash etc.....
No sense in being alive if you can’t look at anything but a picture of your card. If using a vault why not collect NFTs?
I agree that there must be a policy. I have no idea how the various vaults work, but don't see how they would necessarily know that the owner had died. It must be fairly easy when presented with a will and a death certificate, but I suppose the cards are eventually considered abandoned property. Depending on state law when you don't pay your "rent" for a certain period of time, perhaps the cards are sold at auction, rental fees are deducted, and the remainder goes to the state's unclaimed property division, you know, those thick supplements in small print that used to appear in the Sunday paper saying "You may have money coming to you!"
I agree, they wouldn't necessarily know the owner had died. So you think the money would go to the state huh. Interesting.
Hey, can I hold your wallet?
I believe Daltex is correct. Assets can be sold to cover unpaid fees (think Storage Wars) however anything in excess of that is turned over to the state, and can later be claimed by heirs. Search on “escheatment” + whatever state your vault is.
I have a list for my wife where I keep all my high end collectibles and who to call, including BBCE and 4SC. These folks buy collections all the same.
Don’t drink the Gatorade in the fridge. I’ve seen too many Datelines
When I die maybe my wife can send my ashes to be stored in the vault next to my cards. Together for eternity.