Stamp Collection Left To An Estate

Hello guys, I'm 73 and have cancer, not too, too bad but still have it, I could last another 10 years or so, but that's not the subject here. I have a small family and there is no one else in the family that collects stamps, has anybody ever thought what they would do with their collection upon their demise ???

I am sorry to hear of your illness. God knows how many are suffering with this illness.

As for the collection, if it ends up as part of estate, and it is of any substantial value it may end up probated and taxed. Better to sell it off and enjoy, or give it to someone directly, like grandkids and it could spark some interest, especially if you can assist and teach them with information about it. If it of lesser value it does not make much difference.

God bless and keep faith.

Good luck with your next years. You'll get through them, one way or another.

As far as your collection, it is a pity that many of us leave this world without anyone to hand it off to. Another bad thing is that many of us don't leave any information on the value of the items (or at least key items), and the Executor just wants to dispose of them in the most efficient manner possible.

I agree with selling them off, if no one is interested, and at least getting some money to use in your later years. If not, get an inventory started with current Scott or SG values, and store that list away with the stamps. Best option, though, is to find an interested party to take them to the next level.

Good luck!

As a Stage 4 survivor, I can tell you that the best perspective is 'I have cancer, but cancer does not have me'.

In terms of building a disposition strategy for your collection(s), a good place to start is an album disposition form placed inside each album/stock book that you own which describes the contents, value, and disposition information.

Of course this does not replace a Will, but is a good start for organizing your thoughts and desires for those who will handling your affairs later on. If interested in this, I put together a free Album Disposition Form which you can download here
http://stampsmarter.com/learning/Fo...osition.html

Don

Sorry to here about the cancer. It can be a deadly thing.

We all need to think of what to havd done with our collections when our time come. I would continue to work on it till I get to the point I could not any more. Also during this time, find someone who would want it when its the time.

Make sure your most significant other knows what you would like to do. Stamp auction or outright sale to a dealer are the most logical options when no-one in the family is interested. Any beneficiaries of your will would want the best result in the sale of your collection.

Hi guys, again, thanks for all the comments about the cancer. The whole thing is very surreal, to me, as I have no visible or internal effects, not yet, anyways. It can't be cured, just controlled and their doing a hell of a good job with that. Anyways, the Stamp collection.
I've actually been doing this since a teenager but never really organized anything properly. Life gets in the way. But now, I've gotten into it seriously and organizing and cataloging what I have. It's Canada and Provinces. I do have world stuff but don't pay too much attention to those. I can tell you that Cataloging them is one hell of a chore. I've got 5, 3" binders of Canadian Stamps, 1, 1.5" Binder of Provinces and now, looks like I'll be into 2, 3" Binders of Canadian Definitive stamps, from 1953 to present. I'd really hate like hell to break all that up to sell it off, I would sooner gift it to someone that I could find that would actually be interested in it and there's no way I would leave it so the Tax Man can get any revenue out of it. So, thanks for all the comments, they were good.

Thanks 51studebaker, I've taken a look at the form and have downloaded it.

No problem.

Since I am on dialysis, chemo, and immunotherapy, I had these t-shirts made...



Don

51studebaker, the link (or whatever) to your T shirts did not come thru

Love the t-shirt, Don! Well done!

Bud: How did you manage to see the T shirts ?? (I'm new to all this)

The Royal Philatelic Society of Canada has two interesting and valuable essays on the subject of philatelic estates on the website at https://www.rpsc.org/estateplanning.htm
The first of the reports is done by an individual while the second has been prepared by a committee of members of the Philatelic Specialists Society of Canada. Both are worth reading
GJP

gportch: Good links and yes, that's where I am and was. I've gotten rid of a lot of stuff that was hanging around, ie: Had a Box full of stamps on paper, box about 12"x12"x18" and believe me, it was stuffed full, did go thru it to make sure there was no Canadian stuff in it, what a job, and donated it to a church group. As I stated before, I'm cataloging my whole collection. I still have oodles of stock books from stuff as much as 50 years ago. Should peruse these and give them away as well, well, once checking them out, a bit, anyways. Again, Thanks.