Collections and Wills

I’m taking my collection with me when I pass.

I can send you my name and address to make things easier for you. Kidding! ?

My personal belief is if I have something that I know a loved one will value and cherish, I would gift it to them while I am alive so that they can enjoy it and think of me. Most things are just objects that we attach ourselves to, as I try to remind myself, and relationships are far more important than clinging on to material things.

I had acquired a very rare promotional item from the Lord of the Rings movies back in the day for quite a considerable sum, and I had formed a good friendship over the years with a TORn member even though we lived halfway across the world. We started sending each other “mathoms” on our birthdays, and one year, I sent them the promotional item even though I loved it myself. But I felt that it would mean more to them because in addition to being a huge fan, the item would have the added sentiment of being gifted by a friend. I wasn’t wrong - and we have stayed in touch to this day, almost 18 years later. ☺️ I’ve done similar things with several other items I’ve acquired or purchased, and with various family and friends.

If I were in your position, I’d figure out who of my loved ones would cherish my collection, or different parts of it, and I’d gift it to them slowly while still alive, and also leave it to the respective people in my will (because one can kick the bucket any time!) If no one would particularly care about the items but would benefit financially from selling them on, once again determine who those people are.

It may be difficult for people unfamiliar with certain types of items to know their true value while disposing of them - that’s a different problem.

I know one aunt who willed her stuff to be sold via auction by the executor and the funds distributed to various loved ones.

Creating a will is (imo) a great way for one to recognise the finality of things - it gives one perspective about what really matters.

Good luck with whatever you decide. ?

I am thinking about discussing this subject on our YouTube channel as I think it is a very important subject that a lot of us do not think about.

Trotter wrote:

I am thinking about discussing this subject on our YouTube channel as I think it is a very important subject that a lot of us do not think about.

When you do please shoot me an email (because I can sometimes go a whole day without looking at YouTube).

It is probably better if you Subscribe to the YouTube channel

If you go to the YouTube channel, https://www.youtube.com/c/TolkienCollectorsGuide

Click on the Notification Bell, which will email you every time we post a new video.

I just discovered that YouTube channel (and am catching up). Don't know how I missed it earlier.

Most states in the US permit you to have a separate document often called a personal property memorandum to bequeath tangible personal property to beneficiaries without having to formally amend your will each time you update the memorandum to add or remove items or change beneficiaries. This is particularly helpful for large collections, such as Tolkien related books.

However, you should consult with an estate attorney in your jurisdiction to determine if a personal property memorandum is allowed and how it should be drafted in connection with your overall estate plan. Apologies if this is common knowledge.

Gloinson wrote:

Most states in the US permit you to have a separate document often called a personal property memorandum to bequeath tangible personal property to beneficiaries without having to formally amend your will each time you update the memorandum to add or remove items or change beneficiaries. ... However, you should consult with an estate attorney in your jurisdiction to determine if a personal property memorandum is allowed and how it should be drafted in connection with your overall estate plan.

Last will update I added the personal property memorandum. Especially useful with a changing collection.
One option I used in the per. prop. mem. is to give the collection to a university archive in the US. This may change. Selling is not an option I'd use.

Trotter wrote:

I am thinking about discussing this subject on our YouTube channel as I think it is a very important subject that a lot of us do not think about.

This would be an excellent topic for us to discuss, as this questions gets asked a lot.