PSA Vault - Life and legal event questions
MinorLeaguer
Posts: 511 ✭✭✭
I was in transfer agent services early in my career, so my mind thinks like brokerage ops on these subjects. I've never used the PSA Vault and have been thinking of sending my most valuable cards there for safekeeping. I'm in my 50's so always thinking about planning for life events. On the FAQs I couldn't find any answers or direction on estate planning issues such as what procedures must be followed if the account holder passes or becomes incapacitated while their cards are in the vault? Are there beneficiary forms? Do they accept power of attorney if one is incapacitated? Would the cards have to go through probate on death? Other than providing a trusted loved one in advance with the vault online account credentials to act like they are me and withdraw the cards, what safeguards are in place to stop a scammer from saying a vault member died and sent in some fake death certificate as proof? What are the rules on abandoned property as state laws likely must be adhered to. Would hate to have valuable cards escheated to some office of the state treasurer when sitting in the vault for years, just because a few emails or letters to me from PSA were returned as undeliverable. I'd also assume they would adhere to court orders such as if someone's spiteful wife got custody of cards in a divorce. Anyone know? I wouldn't feel comfortable sending cards to the vault without clearly documented answers from PSA. Thanks in advance.
Comments
Agree. I perceive it as too fraught with unknown risks to take a chance.
I might feel different if it I was someone who is using only for short term only buying and selling.
For me the Cons vastly outweigh the Pros
I think with all the legitimate doubts and serious concerns that you raise in your questions, then it's not only no but Hell no.
Seems a bit risky to me. I don't trust anyone with my most valuable possessions.
Actually, at this point in my life, I might only trust my dogs, and only because I feed them.