Re: death, taxes & wives (was scale autos)
Keith, The Barber's chair reminded me of an incident at my shop. One of my customers had a dental supply business, took in trade-ins on new items, etc. Somewhere in my readings about unrelated subjects and trivia, I learned that a Dentist chair was supposedly the first chair to be designed "ergonomically." Obviously the dentist wanted the patient to be relaxed and comfortable. Dave said he had some oold style chairs with the hand pump, etc. I acquired them at a very VERY reasonable price. At first I thought of making welding jig platforms out of them so you could adjust the height to suit the work being done. Also thought one would be nice beside the milling machine with the very heavy rotary table on it. The height could be adjusted to match the table and the rotary could be transferred without having to lift the dang thing. That left three chairs "at leisure" and that's exactly what I did with them. Restored two as lounge chairs for on the lanai, and the third one got a nice marble top to serve as a place for libations, snacks, etc., between the two chairs. A very prominent interior decorator here in town saw them under construction and used every derogatory word he could think of to tell me what a stupid idea that was. Over the next two years, I bought and refurbished quite a few of the chairs. They sold for very rewarding prices and the original decorator sold six of them, of course claiming that the whole thing was HIS idea. Later the early electrical ones sold very well and one became a locomotive repair bench for me -- until a customer offered me more for it than I could afford the pass up. Keep your steam up! Mr. Lunk's Asst.
Re: death, taxes & wives (was scale autos)
Keith, Harry et al, Well, If I were to die tomorrow, no one could say I didn't wear out, ruin, bust up and destroy a lot of locos!!. No neat cases, no machine shop, just a hobby room (spare bedroom) of which our cat allows me a small portion to use. Piped in compressed air while I "fiddle"--folks want to know why I piped compressed air into a bedroom--I say; "ask my wife" so they ask me if I can do it for them!! Folks are curious! The house is surrounded by track of various gauges. Neighbors think I'm nuts, which I am (we all are). But how the kids love to visit, they understand, like attracts like!! I actually live by Michael's philosophy copied as follows: >>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<< Of course, he's from Florida, and look what living in Florida has done to Lunkheimer's Asst-(I remembered the"T") Geoff. - Original Message - >From: "Harry Wade" <[EMAIL PROTECTED]> >>I have an almost identical experience. ... >Although beyond retirement age he died unexpectedly, before >> producing the first chip on a model project. >Harry, >That actually happens quite a lot! But once again, if he was having a >good time making all of that tooling, and neat cases, it was still >worthwhile. His enjoyment was the ultimate goal, and if that's what made >him happy, then I say the shop was a roaring success! Back during the >summer heat, and while the Drs. would not let me work in my shop. I >would still go and just sit in there! I'd turn on some music in the >background, take a book or copy of a Steam magazine. Put back the seat >back. (I have an old Barbers Chair for a comfortable place to ponder >model engineering problems!) And take in the atmosphere of cutting oil, >chips and old machine tools. If that won't put you in an acceptable >frame of mind, nothing will! The wwalls are also covered with >photographs of long time, and in some cases long deceased, modeler >friends, so I can also enjoy the atmosphere of their shops! Not a bad >way to recuperate! >Keith Taylor > >
Re: death, taxes & wives (was scale autos)
Hello Everyone, My wife, kids and family have no idea *what* some of the items in my workshop are, much less how much they're worth. A couple of years back while upgrading my insurance, my agent suggested that I take pictures and/or video of my "stuff". I emphasized on items that I had the most concern about losing, most valuable, most likely to end up in a pawn shop (TVs, VCRs, stereos, etc.) or that I knew that nobody outside of my interests would know anything about. I placed a sticker on the back of each picture with any identifying marks, serial numbers, and what the items approximate worth was. I later scanned the photos, added the description to a text list, and burned it to CD (and kept the pictures as a backup). I take the CD from our lockbox at the bank and update it when alterations to the list are needed. The video allowed me to describe the item and tell the serial number as I filmed it. (another backup) Now, if any of you are like me, you absolutely MUST tell your "significant other" to never look at the CD unless something happens to you. If my wife were to figure out how much money I've spent on my hobbies over the years, I'm quite sure that SHE might be the very thing that finishes me off. Later, Trent > - Original Message - > From: "Harry Wade" <[EMAIL PROTECTED]> > > >However, when they die, if they want their wife to realize a > realistic > > >return on their investment, > >
Re: death, taxes & wives (was scale autos)
> 3. Unless there is a major change, all worldly goods will be donated to > charity with the proviso that Mr. Lunkenheimer cared for. > Keep your steam up! > Walt & Lunk Walt, I'm sure any number of folks would be happy to take your rail stuff. But you can rest assured that if no one else does, My wife and I would be happy to be sure Mr. Lunkenheimer has a home! As much fun as the trains and stuff are, I never tire of the antics of our animal friends. Our little refugee from the animal shelter earns his keep by making me laugh at least once a day! Can't ask for a better return on investment than that! Keith
Re: death, taxes & wives (was scale autos)
- Original Message - From: "Harry Wade" <[EMAIL PROTECTED]> >I have an almost identical experience. ... Although beyond retirement age he died unexpectedly, before > producing the first chip on a model project. Harry, That actually happens quite a lot! But once again, if he was having a good time making all of that tooling, and neat cases, it was still worthwhile. His enjoyment was the ultimate goal, and if that's what made him happy, then I say the shop was a roaring success! Back during the summer heat, and while the Drs. would not let me work in my shop. I would still go and just sit in there! I'd turn on some music in the background, take a book or copy of a Steam magazine. Put back the seat back. (I have an old Barbers Chair for a comfortable place to ponder model engineering problems!) And take in the atmosphere of cutting oil, chips and old machine tools. If that won't put you in an acceptable frame of mind, nothing will! The wwalls are also covered with photographs of long time, and in some cases long deceased, modeler friends, so I can also enjoy the atmosphere of their shops! Not a bad way to recuperate! Keith Taylor
Re: death, taxes & wives (was scale autos)
1. But he had FUN building the boxes and shelves! That's the real goal if you stop, step back, look around and smell the flowers...if it don't smell like flowers, maybe that person has an allergy and likes another smell. 2. An awfull lot of effort goes into building the elevated track sysyems. Most of them will be a major pain in the posterior to disassemble and get off the property after the funeral. Seems like most of us forget SCALE when we build these things. How can you justify 4" x 4" PT posts every four feet to hold up a loco that weights less than 50 pounds? I could disassemble the SWAMP RR in one day with one helper. The 1 1/2" PVC legs would all fit in two trash cans. The recycle guy would love to have the aluminum frames, and the plex could be recycled again. Alternatively, two people could dismantle it and relocate the track elsewhwere. Lots easier than moving concrete clocks, 4x4 supports, 2x6 stringers and 1/2' or thicker plywood. 3. Unless there is a major change, all worldly goods will be donated to charity with the proviso that Mr. Lunkenheimer cared for. Keep your steam up! Walt & Lunk
death, taxes & wives (was scale autos)
At 11:00 AM 10/25/02 +0100, you wrote: >Not entirely on topic, but this correspondence reminded me of the man who, > . . . . . and then build some special fixtures and jigs >When he died, his friends found a workshop full of odd shaped pieces I have an almost identical experience. A engineer friend, and possibly one of our best local craftsmen, with a superbly equipped workshop, did the same thing except that as an accomplished woodworker he also built fitted wooden cases for everything, and then cabinets for the cases. Although beyond retirement age he died unexpectedly, before producing the first chip on a model project. Regards, Harry
Re: death, taxes & wives (was scale autos)
Hi Mike. All this talk about passing on and what to do with the railroad ;; I tell ya if I cant take it with me Im not going Graham S - Original Message - From: Mike Chaney <[EMAIL PROTECTED]> To: Multiple recipients of sslivesteam <[EMAIL PROTECTED]> Sent: Friday, October 25, 2002 6:00 AM Subject: Re: death, taxes & wives (was scale autos) > Not entirely on topic, but this correspondence reminded me of the man who, > having retired from a demanding job, decided that he was going to build a model > traction engine. He set up well equipped workshop and declared that, to make > the job easier, he would start by making tools and attachments for his machines > and then build some special fixtures and jigs for the more complex parts. > > When he died, his friends found a workshop full of odd shaped pieces of metal, > not one of which bore any resemblance to a part of a traction engine. > > Mike > >
Re: death, taxes & wives (was scale autos)
Not entirely on topic, but this correspondence reminded me of the man who, having retired from a demanding job, decided that he was going to build a model traction engine. He set up well equipped workshop and declared that, to make the job easier, he would start by making tools and attachments for his machines and then build some special fixtures and jigs for the more complex parts. When he died, his friends found a workshop full of odd shaped pieces of metal, not one of which bore any resemblance to a part of a traction engine. Mike
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 (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
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 >
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
