Re: death, taxes & wives (was scale autos)
Keith Yea! They line up as if to help in time of need! Just to get all the crumbs they can scavenge under the idea they are helping her, at the same time lining their pockets. I tell you something else, the kin is the worst ones. I have seen the children sell off things worth multi thousands, for hundreds just to get there hands on any kind of money, I have seen a lot of them spend the money before they even sell anything, then end up in a bind and take even less. Clint - Original Message - From: "Keith Taylor" <[EMAIL PROTECTED]> To: "Multiple recipients of sslivesteam" <[EMAIL PROTECTED]> Sent: Thursday, October 24, 2002 5:55 PM Subject: Re: death, taxes & wives (was scale autos) > > - Original Message - > From: "Harry Wade" <[EMAIL PROTECTED]> > > >However, when they die, if they want their wife to realize a > realistic > > >return on their investment, > > > > Keith, > >The questions here would be was it bought as an "investment" to > > begin with, and then was it a smart way to invest? > Harry, > No matter how you look at it, it IS an investment. Sure, it's major > value is in it's ability to provide you with enjoyment. And in that > repect, any and all of your stuff shouldn't have to return a dime. > But.. even if you made a "bad" investment. And even if the stuff you > bought won't bring half of what you paid, I still would want my wife to > get all she can, as I care very much for her, more so that I do any > leech who would try to steal things from her. Again, if the stuff is > worth half of what I paid, I want her to get half, and not 10%, or > worse, lose everything, being told the stuff was scrap. We also have to > remember that a lot of the things we have, were bought over a life time, > and what may once have been cheap, or even a gift to us, is now worth > more than what we paid. > I would never sell my library, as I consider it to be the single most > valuable tool to me. Back in the 1970's I paid somewhere around $29.00 > (if I remember correctly) for the Mike Koch book on the Shay Locomotive. > I'm pretty sure that that one book alone would bring more than $30.00 > today!!! I tell my wife what I pay for stuff, and she knows tha > sometimes I pay more than the thing is worth, but it's worth the price > to me. She now has a realistic idea of what most of the stuff is, and > what it's worth. Most importantly, she knows that just because I paid X > at retail, that when I croak it is now probably worth 1/2X! But by the > same token, she also knows which items are worth 2X! And I have already > made arrangements to send her in the right direction for my different > hobbies! You don't sell a Rivett lathe at an Antique Motorcycle club > meeting! By the same token, she won't be advertising my 1923 Henderson > DeLuxe 4 cylinder motorcycle at Diamond Head! Her ability to live is not > dependant on what she may get for toys, that is taken care of > seperately. I just want to be sure that she does get what the toys are > worth when the time comes. When there were mistaken reports of my demise > in the past, the vultures have already made themselves known to her with > their offers to "help, in her time of need!" > Keith > >
Re: death, taxes & wives
Lemme see now, did I build the railroad for scenic effect when I'm gone, or to enjoy it when I'm here? Did I build the railroad for an investment for my spouse when I'm gone or to enjoy it while I'm here? While you're alive, LIVE ! When Yer dead, Die and be done with it! Cheers and Beeers Michael Florida USA Iron Nut - Original Message - From: JR May <[EMAIL PROTECTED]> To: Multiple recipients of sslivesteam <[EMAIL PROTECTED]> Sent: Thursday, October 24, 2002 4:38 PM Subject: Re: death, taxes & wives > You guys are depressing! > > The gauge 1 magazine an issue or two ago had an interesting article on the > garden railway and what would happen to it if the owner moved on by either > dying or just moving. The English have a fantastic way of building garden > railways but I can see the point. Once the rails are torn up, what is left? > Will it be something that detracts from the value of the house like a built > in swimming pool normally does in the NE USA? Long sweeping curves of solid > cement might be just as bad. Just something to keep in mind as we build > more of these tracks in the US. > > And a big hand to those who pull that magazine together! It is fantastic.. > > Any USA Dee updates? I need a kick in the butt to get going on mine! > > J.R. > > > - Original Message - > From: Geoff Spenceley <[EMAIL PROTECTED]> > To: Multiple recipients of sslivesteam <[EMAIL PROTECTED]> > Sent: Thursday, October 24, 2002 4:25 PM > Subject: Re: death, taxes & wives > > > > One and all, > > > > Being old (like reaching the 80s) makes me well aware of what my family > > will be stuck with when my remains are shoved in the firebox of the Flying > > Scotsman! It becomes somewhat of an obsession and sometimes I feel I > should > > dispose of much of it now instead of expanding my collection of "toys"--- > > which continues as I mismature! That's typical for us oldsters! > > > > I started to list all my trains and other toys on the computer but my wife > > does not use it. So accordingly I have listed almost everything in a > > legal size note book, listing date of aquisition, price, current value and > > liquid selling price. I have a friend in the L.S hobby who will help > > dispose of the trains and a son who can handle my collection of 54mm metal > > military figures. Other stuff can melt with me in the firebox. > > > > Incidentally, there is an advantage in listing one's collection in a note > > book as it gives the opportunity to visually inspect each "toy" as you > list > > it! More fun!--Right? No huntin' and peckin' either. > > > > Geoff. > > > > > > > > > > > > > > > > > > > >
Re: death, taxes & wives (was scale autos)
- Original Message - From: "Harry Wade" <[EMAIL PROTECTED]> > >However, when they die, if they want their wife to realize a realistic > >return on their investment, > > Keith, >The questions here would be was it bought as an "investment" to > begin with, and then was it a smart way to invest? Harry, No matter how you look at it, it IS an investment. Sure, it's major value is in it's ability to provide you with enjoyment. And in that repect, any and all of your stuff shouldn't have to return a dime. But.. even if you made a "bad" investment. And even if the stuff you bought won't bring half of what you paid, I still would want my wife to get all she can, as I care very much for her, more so that I do any leech who would try to steal things from her. Again, if the stuff is worth half of what I paid, I want her to get half, and not 10%, or worse, lose everything, being told the stuff was scrap. We also have to remember that a lot of the things we have, were bought over a life time, and what may once have been cheap, or even a gift to us, is now worth more than what we paid. I would never sell my library, as I consider it to be the single most valuable tool to me. Back in the 1970's I paid somewhere around $29.00 (if I remember correctly) for the Mike Koch book on the Shay Locomotive. I'm pretty sure that that one book alone would bring more than $30.00 today!!! I tell my wife what I pay for stuff, and she knows tha sometimes I pay more than the thing is worth, but it's worth the price to me. She now has a realistic idea of what most of the stuff is, and what it's worth. Most importantly, she knows that just because I paid X at retail, that when I croak it is now probably worth 1/2X! But by the same token, she also knows which items are worth 2X! And I have already made arrangements to send her in the right direction for my different hobbies! You don't sell a Rivett lathe at an Antique Motorcycle club meeting! By the same token, she won't be advertising my 1923 Henderson DeLuxe 4 cylinder motorcycle at Diamond Head! Her ability to live is not dependant on what she may get for toys, that is taken care of seperately. I just want to be sure that she does get what the toys are worth when the time comes. When there were mistaken reports of my demise in the past, the vultures have already made themselves known to her with their offers to "help, in her time of need!" Keith
RE: Roundhouse Jet hole size
Bob, I seem to remember seeing this or similar info recently. I will have to dig through notes, etc. I will let you know what I find tomorrow. Steve -Original Message- From: [EMAIL PROTECTED] [mailto:Cgnr@;aol.com] Sent: Thursday, October 24, 2002 9:14 AM To: Multiple recipients of sslivesteam Subject: Roundhouse Jet hole size Anybody have any idea what size the #5 and #6 jets are? Bob
death, taxes & wives (was scale autos)
What happens to my toys after I'm gone is something I have been wondering about. I was thinking I should go through all my "stuff", and make a list of what it's worth, and who should be contacted about disposing of it. Otherwise, my wife would have no idea what to do, or what it is worth. Have any of you gone through and inventoried your toys in such a manner? Is there a "right", or "easy" way to do this? > From: "Clint D" <[EMAIL PROTECTED]> > Subject: Re: scale autos > > yea, that's one thing my wife would not try, she knows i have to die first, > really she is pretty good, but would not have a clue of what was what! > Clint >
Re: death, taxes & wives (was scale autos)
At 11:11 AM 10/24/02 -0400, you wrote: >What happens to my toys after I'm gone is something I have been wondering about. I was thinking I should go through all my "stuff", and make a list of what it's worth, and who should be contacted about disposing of it. Otherwise, my wife would have no idea what to do, or what it is worth. Of course what it's "worth" is going to vary depending upon many things but certainly most of us would want our survivors to realize the most value from whatever we'd accumulated after we are gone. That being the case I've never thought it was of much used to price objects so much as to inform your heirs that there is considerable value there and that whenever time for disposal comes they should seek honest and competent advice about the value at that time and to not do anything in a hurry. At the moment I have a considerable workshop. However there is no telling what will be in it say 25 years from now so the only thing to do now is to document as completely as possible what is there and what goes with what. Then I informed my daughter, who is likely to be my only survovivor, that there is considerable value there, that there are a species known as "Vultures" who prey on the berieved, and in the case of my demise she should not sell it all for $100 to someone who offers to clean out that junk room for you. Leaving survivors as informed as possible is the best way to insure passing along the most value. Regards, Harry Wade Nashville, Tn
Re: death, taxes & wives (was scale autos)
I have helped a couple people make plans ahead of time about who to contact. Generally, I suggest writting down family who might appreciate specific items, then club members names if a club is helping inspire the purchase of items. I also suggest writting down a couple of "Collection Buyers", with the understanding that the items will go for a deeper discount, but it is all gone with less fuss. A video camera can pan items for a quick inventory that is easy to show a potential buyer. A data base can be used to enter items. Can be tedious, start long before you believe it will be needed. If you make the list, your mate won't have to pay someone else to make the list. - Original Message - From: [EMAIL PROTECTED] To: Multiple recipients of sslivesteam Sent: Thursday, October 24, 2002 8:11 AM Subject: death, taxes & wives (was scale autos) What happens to my toys after I'm gone is something I have been wondering about. I was thinking I should go through all my "stuff", and make a list of what it's worth, and who should be contacted about disposing of it. Otherwise, my wife would have no idea what to do, or what it is worth. Have any of you gone through and inventoried your toys in such a manner? Is there a "right", or "easy" way to do this? > From: "Clint D" <[EMAIL PROTECTED]> > Subject: Re: scale autos > > yea, that's one thing my wife would not try, she knows i have to die first, > really she is pretty good, but would not have a clue of what was what! > Clint >
Roundhouse Jet hole size
Anybody have any idea what size the #5 and #6 jets are? Bob
Re: death, taxes & wives (was scale autos)
Your advice regarding your tools is the same as my dad issued regarding his stock! He has informed me to check the base price before selling to make sure it isn't being sold at a loss. Value . . . changes with the time of year, how well marketed the item, and the current availability of that item and cash to purchase. If we bought new, we shouldn't expect to sell at new prices. Some seem to think anything they bought will automatically increase exponentially so that they can sell far above the store price they paid three years ago. Amazing how different people look at things. The main thing, is to enjoy what you do decide to purchase. - Original Message - From: Harry Wade To: Multiple recipients of sslivesteam Sent: Thursday, October 24, 2002 8:44 AM Subject: Re: death, taxes & wives (was scale autos) At 11:11 AM 10/24/02 -0400, you wrote: >What happens to my toys after I'm gone is something I have been wondering about. I was thinking I should go through all my "stuff", and make a list of what it's worth, and who should be contacted about disposing of it. Otherwise, my wife would have no idea what to do, or what it is worth. Of course what it's "worth" is going to vary depending upon many things but certainly most of us would want our survivors to realize the most value from whatever we'd accumulated after we are gone. That being the case I've never thought it was of much used to price objects so much as to inform your heirs that there is considerable value there and that whenever time for disposal comes they should seek honest and competent advice about the value at that time and to not do anything in a hurry. At the moment I have a considerable workshop. However there is no telling what will be in it say 25 years from now so the only thing to do now is to document as completely as possible what is there and what goes with what. Then I informed my daughter, who is likely to be my only survovivor, that there is considerable value there, that there are a species known as "Vultures" who prey on the berieved, and in the case of my demise she should not sell it all for $100 to someone who offers to clean out that junk room for you. Leaving survivors as informed as possible is the best way to insure passing along the most value. Regards, Harry Wade Nashville, Tn
Re: death, taxes & wives (was scale autos)
- Original Message - From: "Gary" <[EMAIL PROTECTED]> > I have helped a couple people make plans ahead of time about who to contact. Gary and list, The number one thing to do, even before checking into possible auction companies for the very valuable collectible items, is to make sure your wife knows and understands what the stuff you have is worth! I know that many folks situations differ from mine, but I have made it a practice to NEVER lie to my wife what I pay for things. A lot of people I kb now, do that so as to not have to listen to nagging about the money they spend. However, when they die, if they want their wife to realize a realistic return on their investment, she better have a good idea of what it is she now owns! As an example, I knew a fellow who was an amateur clock maker. And he made not only the cases, but movements as well. ( a TRUE clockmaker) But whenever he brought home a machine tool, on which he built the clocks, she would say, "oh.more scrap metal?" And he never corrected her, figuring she wouldn't think he'd spent too much of the family income. Well, he died and the widow had an appraiser come in and value the clocks. But she called in a scrap metal merchant for the shop! Bear in mind, the shop was equipped with toolmakers lathes, precision instrument makers milling machines. Starrett, and Brown & Sharpe Measuring tools which he bought new, and to top it all off, the overhead line shaft that ran most of his larger machines was run by the prettiest tiny three cylinder compound steam launch engine you ever saw! being home made, the clocks, while nice, were only worth at best a little under a thousand dollars. The shop, which would have sold at auction to antique tool collectors for thousands of dollars went for $0.15 (fifteen cents) a pound! The junk man told the woman he would give twenty cents a pound if the stuff was brokem up into little bits! So she had the neighborhood teenagers in for a day of fun breaking up the tools! By the time his friends found out what was up, it was all gone! I like to kid around with my wife, but I don't ever try and get away with telling her less than what I pay for things, and I make sure she knows what stuff is worth, and where, EXACTLY, to go to sell it! Keith Taylor
Re: death, taxes & wives (was scale autos)
I have thought the same thing, you know the dealers will just take advantage, that is a very good idea, make two inventory lists, one far her to know what it is worth to sell and another with a much smaller value for her to use battling the IRS on death taxes. We will be surprised of all the small items that we have accumulated over the years and can be sold for a nice little nest egg for our wives. I sure would hate to see someone to take advantage on some of the goodies she does not have a clue in value? Clint - Original Message - From: <[EMAIL PROTECTED]> To: "Multiple recipients of sslivesteam" <[EMAIL PROTECTED]> Sent: Thursday, October 24, 2002 10:11 AM Subject: death, taxes & wives (was scale autos) > What happens to my toys after I'm gone is something I have been wondering about. I was thinking I should go through all my "stuff", and make a list of what it's worth, and who should be contacted about disposing of it. Otherwise, my wife would have no idea what to do, or what it is worth. Have any of you gone through and inventoried your toys in such a manner? Is there a "right", or "easy" way to do this? > > > > From: "Clint D" <[EMAIL PROTECTED]> > > Subject: Re: scale autos > > > > yea, that's one thing my wife would not try, she knows i have to die first, > > really she is pretty good, but would not have a clue of what was what! > > Clint > > > > >
Re: death, taxes & wives (was scale autos)
At 02:20 PM 10/24/02 -0400, you wrote: >However, when they die, if they want their wife to realize a realistic >return on their investment, Keith, The questions here would be was it bought as an "investment" to begin with, and then was it a smart way to invest? If the answer to either of these questions is no then there's no guarrantee, except by purest accident, that at check-out time it will turn into an investment, certainly one which made money. I know my machines will hold a substantial value but did I buy them thinking they'd be worth more than I paid for them when it came time to sell? No, so when it does come time to sell I can't be too upset (if I'm still around) that they didn't turn out to be a profitable investment. The intended R.O.I, having fun practicing my hobby, was taken while I was alive. Regards, Harry
Re: death, taxes & wives
One and all, Being old (like reaching the 80s) makes me well aware of what my family will be stuck with when my remains are shoved in the firebox of the Flying Scotsman! It becomes somewhat of an obsession and sometimes I feel I should dispose of much of it now instead of expanding my collection of "toys"--- which continues as I mismature! That's typical for us oldsters! I started to list all my trains and other toys on the computer but my wife does not use it. So accordingly I have listed almost everything in a legal size note book, listing date of aquisition, price, current value and liquid selling price. I have a friend in the L.S hobby who will help dispose of the trains and a son who can handle my collection of 54mm metal military figures. Other stuff can melt with me in the firebox. Incidentally, there is an advantage in listing one's collection in a note book as it gives the opportunity to visually inspect each "toy" as you list it! More fun!--Right? No huntin' and peckin' either. Geoff. >
Re: death, taxes & wives
You guys are depressing! The gauge 1 magazine an issue or two ago had an interesting article on the garden railway and what would happen to it if the owner moved on by either dying or just moving. The English have a fantastic way of building garden railways but I can see the point. Once the rails are torn up, what is left? Will it be something that detracts from the value of the house like a built in swimming pool normally does in the NE USA? Long sweeping curves of solid cement might be just as bad. Just something to keep in mind as we build more of these tracks in the US. And a big hand to those who pull that magazine together! It is fantastic.. Any USA Dee updates? I need a kick in the butt to get going on mine! J.R. - Original Message - From: Geoff Spenceley <[EMAIL PROTECTED]> To: Multiple recipients of sslivesteam <[EMAIL PROTECTED]> Sent: Thursday, October 24, 2002 4:25 PM Subject: Re: death, taxes & wives > One and all, > > Being old (like reaching the 80s) makes me well aware of what my family > will be stuck with when my remains are shoved in the firebox of the Flying > Scotsman! It becomes somewhat of an obsession and sometimes I feel I should > dispose of much of it now instead of expanding my collection of "toys"--- > which continues as I mismature! That's typical for us oldsters! > > I started to list all my trains and other toys on the computer but my wife > does not use it. So accordingly I have listed almost everything in a > legal size note book, listing date of aquisition, price, current value and > liquid selling price. I have a friend in the L.S hobby who will help > dispose of the trains and a son who can handle my collection of 54mm metal > military figures. Other stuff can melt with me in the firebox. > > Incidentally, there is an advantage in listing one's collection in a note > book as it gives the opportunity to visually inspect each "toy" as you list > it! More fun!--Right? No huntin' and peckin' either. > > Geoff. > > > > > > > > > >
