Leaving your collection to your heirs?

[misteremu]

Just wondering if anyone has ever wondered if their kids will be interested in their collection after one's passing. I collect game used jerseys, helmets, media guides, programs, etc. related to my alma mater Eastern Michigan University and guys from EMU that played inthe pro's. In fact, when the university needs a display set up, they contact me as I have more than the university themselves. Has anyone ever wondered what to do with their collection in the unexpected of their passing? I have a four year old son who doesn't understand why I collect EMU stuff(I don't expect a 4 year old to understand)..would it be better to leave the collection to my son or would the university be better off with the collection? He likes EMU and going to sporting events but who knows if he will ever catch the collecting bug?

[coxfan]

Everyone should maintain an updated file on a computer that lists what artifacts you own, their provenance, and estimated values. Make sure you know your heirs know where to find it; say, keep an updated printed copy of the file next to a copy of your will and/or a list of your financial accounts, in a safe deposit box. ( I recently went through one of these lists with my daughter when she stopped by, showing her the artifacts that correspond to it.) It would be helpful also to leave the contact info for a reliable and fair dealer or two, who might want to purchase the item(s).

Your heirs should be given the choice of whether to sell, keep, or donate, after you're gone. But they need to have the info, or they and the artifacts will lose out.

[MSpecht]

In addition to the formalities of wills, trusts, photographs, etc, there is one other thing that I think is very cool, which happened to me once about 15 years ago. There are several things in my collection that specific collector friends have really enjoyed and probably coveted, and tried relentlessly to obtain, over the past bunch of years...

I've discussed with my wife, and left all the necessary information, that when I go down, a couple of these items are going to appear in a couple of mailboxes unannounced, with a short note saying "Thanks for the friendship. Enjoy this as much as I did."

Mike

[prichmond]

As I told my 16 year old. ". Your. Mother has no idea what is in this storage unit. If something happens to me don't let her throw these jerseys away