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30 Closed Cab PU · 07-20-2020, 10:45 AM

My personal experience. Please be considerate of your heirs. I have been through a nasty case of parents who were children of the Depression, and threw very little away.

Shortly before my Dad started going downhill, he auctioned off part of his antique tractors (qty 50-60)/parts/tools/misc which grossed I believe about $60,000. For 5 months I drove 180 miles round trip on Sundays to help him. Put a lot of stress on me/my family/my job.

4-5 years later he passed, and at that time had to put my Mom in an Alzheimer's unit. That year had 2 auctions, one in June (household) and 1 in October (tractors/land). June for the household which was held at the Fairgrounds, everything packed up/moved/unpacked. 60 years of accumulated antiques/collectables/misc things they considered important/valuable. took 5 months on weekends to go through/distribute things to the immediate family/prepare for the auction. So much stuff auction started at 9 AM, ended at 5 pm.

Dad still had 35 of his good tractors, more parts, tools, etc that he had kept. So from the end of June spent weekends setting up for the tractor auction, and auction of the 5 acres/buildings he had. Had to hire a guy to help me get all the tractors running - cleaning out the tanks, no batteries so had to buy batteries. Getting tires pumped up and holding air, etc, etc. Auction started at 8:30 am , ended about 5 PM.

I was 57 at the time, It took a lot out of me emotionally and physically. Did not feel close to right until the following summer, and feel I never returned to my old self. Am not looking for sympathy. Just be aware decisions you make later in life affects others, especially family for a long time. Forcing your heirs through your poor planning will affect their families, lost time with their kids, spouse scabbling, and also perhaps financial issues getting the estate settled. Make sure you at a minimum have a Will, Durable and Medical Power of Attorneys. Set up a Revocable Living Trust to avoid heirs from having to go through Probate if you have assets that exceed the level that triggers Probate.

My advice, at the very least talk with an Estate/Probate lawyer and a Certified Investment Planner that is a Planner, avoid those that are associated with selling products.

Sorry for the rant, I have very strong opinions on this.

07-20-2020, 10:45 AM	#15
30 Closed Cab PU Senior Member Join Date: Aug 2018 Posts: 2,332	Re: Model A Estate Plans My personal experience. Please be considerate of your heirs. I have been through a nasty case of parents who were children of the Depression, and threw very little away. Shortly before my Dad started going downhill, he auctioned off part of his antique tractors (qty 50-60)/parts/tools/misc which grossed I believe about $60,000. For 5 months I drove 180 miles round trip on Sundays to help him. Put a lot of stress on me/my family/my job. 4-5 years later he passed, and at that time had to put my Mom in an Alzheimer's unit. That year had 2 auctions, one in June (household) and 1 in October (tractors/land). June for the household which was held at the Fairgrounds, everything packed up/moved/unpacked. 60 years of accumulated antiques/collectables/misc things they considered important/valuable. took 5 months on weekends to go through/distribute things to the immediate family/prepare for the auction. So much stuff auction started at 9 AM, ended at 5 pm. Dad still had 35 of his good tractors, more parts, tools, etc that he had kept. So from the end of June spent weekends setting up for the tractor auction, and auction of the 5 acres/buildings he had. Had to hire a guy to help me get all the tractors running - cleaning out the tanks, no batteries so had to buy batteries. Getting tires pumped up and holding air, etc, etc. Auction started at 8:30 am , ended about 5 PM. I was 57 at the time, It took a lot out of me emotionally and physically. Did not feel close to right until the following summer, and feel I never returned to my old self. Am not looking for sympathy. Just be aware decisions you make later in life affects others, especially family for a long time. Forcing your heirs through your poor planning will affect their families, lost time with their kids, spouse scabbling, and also perhaps financial issues getting the estate settled. Make sure you at a minimum have a Will, Durable and Medical Power of Attorneys. Set up a Revocable Living Trust to avoid heirs from having to go through Probate if you have assets that exceed the level that triggers Probate. My advice, at the very least talk with an Estate/Probate lawyer and a Certified Investment Planner that is a Planner, avoid those that are associated with selling products. Sorry for the rant, I have very strong opinions on this.