We are collectors by nature - be it books, music, antiques, coins, figurines, fur coats, baseball paraphernalia, guns - the list is endless.
We have collected these things because they give us joy. Those we leave behind may not get the same enjoyment out of our collections.
Thus, whether the special collections have substantial monetary value or not, you need to give thought to what you would like to happen to these special collections and document it!
This action will also help minimize the possibility of the collection or individual pieces disappearing prior to your estate being settled.
What would be of great help for those managing your estate would be:
Of all your personal collections, perhaps your clothing will be the most difficult for your loved ones to deal with. Within your clothing there may be a special "collection" that you would want to have handled differently from the rest of your clothes.
For me, it is my collection of Hermes scarves. I would not want these donated to a charity, but either to go to my daughter or sold and the funds becoming part of the estate.
If you have a preference for a specific charity that you would like to see receive the rest of your clothing, consider indicating your preference in either your will or your end of life document.
An alternative to leaving instructions for your collections and/or other items that are especially precious to you might be to give them to loved ones who appreciate them.
If you opt to do this, it is recommended that you create a list for those you leave behind of what you have given away and to whom.
In addition to ensuring that there is complete clarity about the destination of these items, it also helps to avoid searching for an item that may have already been given away.
And avoids unfounded accusations (did the maid steal it? Did my brother/sister/cousin/uncle/ aunt take it?) and wasted time in looking for said items.
To facilitate your living giving, we have created a simple form for you to complete with your living giving bestowals.
To facilitate your living giving, we have created a simple form for you to complete with your living giving bestowals. Click below to download a pdf copy
What is your full legal name?
Before death, the three most important documents are a Power of Attorney (POA), a Healthcare Proxy (HCP) and a Living Will
But none of these are valid after your death
Life insurance may be the first that comes to mind, but there are more...
These are the critical elements of what you leave behind and your bequests
During your life, circumstances change. Remember to update pre-planning documents and your final wishes periodically
Step-by-step guide on what to do first. Calls, paperwork, care arrangements, etc.
Where do you start? Physical remains, funeral options, death certificates, memorial services and more...
Next hurdle - how to handle financial records and accounts
Key reiminders on securing residences - owned and rented, apartments and houses - after a loved one's death
What you need to know to protect and eliminate the deceased's digtial presence
Don't forget subscriptions, memberships, and more...
Funny, helpful and special stories shared by others to help you through the process
For each section, download and personalize a pdf checklist