This is probably the most important subject that’s not talked about in the VC. This was incredibly informative, helpful, and valuable, that said, it could have felt less like a seminar to buy the bottom guys services. And if he doesn’t think that at all and doesn’t see how the way he words a lot of his sentences are based on sales pitch techniques than he’s a greater salesman than any of us can imagine. Not even kidding I’m sold, but I’m somehow slightly resentful
Are there any taxes on things you may leave to family, friends, or anyone? Let's say you have a collection worth $100,000 and you leave it to another friend who is a collector. Does the government tax that person on the property left to them when they get it? I also wonder if a person, who has power of attorney, is able to make all decisions and not just financial or medical decisions regarding the person's collection if they were not able to do so themselves before passing away? I guess another way to ask the question would be can the person with power of attorney change a will or something like that before the person the wheel is for dies? I've seen other videos on this same topic but this one is the best. It really delves into the topic with qualified help telling you what needs to be done! Great video! Brian in Fort Worth 🎶
While I might change my mind, I'm one of those awful people who will leave the problem of my collection to my daughter. Luckily, I only have one child, so no fighting over the proceeds - she gets everything. She also has two masters and a PHD, so I'm guessing she's bright enough to know what to do with it. I also doubt she'll be sentimentally attached to any of it. Dr. Darby will probably find someone she can trust to sell it to en masse. I do have a large Canadiana collection that I will probably separate out, though. This includes many recordings of churches and high schools (from the 60s and 70s) and private press artists (mostly from Ontario). Those, I'll probably find a home for as they have historic significance and I probably own one of only a few copies in existence.
Why does it matter, I'll be dead. I may care about my records, but it doesn't mean anything when it's over. Whether any of my family or friends want my collection I don't know. I've told people just sell them for whatever and move on. Or keep them but in the end why does it matter.
hi Steve, Jim and Todd. great topic and video. It gave me some good thoughts. Thanks for that. Take care.
This is probably the most important subject that’s not talked about in the VC. This was incredibly informative, helpful, and valuable, that said, it could have felt less like a seminar to buy the bottom guys services. And if he doesn’t think that at all and doesn’t see how the way he words a lot of his sentences are based on sales pitch techniques than he’s a greater salesman than any of us can imagine. Not even kidding I’m sold, but I’m somehow slightly resentful
Steve, have you seen a video of Glass Beams playing live? Wild masks. So cool!
Are there any taxes on things you may leave to family, friends, or anyone? Let's say you have a collection worth $100,000 and you leave it to another friend who is a collector. Does the government tax that person on the property left to them when they get it?
I also wonder if a person, who has power of attorney, is able to make all decisions and not just financial or medical decisions regarding the person's collection if they were not able to do so themselves before passing away? I guess another way to ask the question would be can the person with power of attorney change a will or something like that before the person the wheel is for dies?
I've seen other videos on this same topic but this one is the best. It really delves into the topic with qualified help telling you what needs to be done! Great video!
Brian in Fort Worth 🎶
I might get my records made into a casket.
This is my written and signed legal document saying dibs I got here first my brother didn’t watch the podcast
We've checked with our attorneys. There IS legal precedent in the case of Dibs vs. Snooze Ya Lose. Your claim checks out!
My collection goes to Radio Wasteland records.
A relative flogs them off.
While I might change my mind, I'm one of those awful people who will leave the problem of my collection to my daughter. Luckily, I only have one child, so no fighting over the proceeds - she gets everything. She also has two masters and a PHD, so I'm guessing she's bright enough to know what to do with it. I also doubt she'll be sentimentally attached to any of it. Dr. Darby will probably find someone she can trust to sell it to en masse. I do have a large Canadiana collection that I will probably separate out, though. This includes many recordings of churches and high schools (from the 60s and 70s) and private press artists (mostly from Ontario). Those, I'll probably find a home for as they have historic significance and I probably own one of only a few copies in existence.
Why does it matter, I'll be dead. I may care about my records, but it doesn't mean anything when it's over. Whether any of my family or friends want my collection I don't know. I've told people just sell them for whatever and move on. Or keep them but in the end why does it matter.
I've willed to my sister and her husband