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MMD > Archives > November 2019 > 2019.11.23 > 01Prev  Next


Settle Your Estate In Advance
By Jeff Alterman

Al Good:  You did make a very good point about liquidating your
automatic musical instrument collection when the time came [191110 MMD].
This will inevitably happen with every automatic musical instrument
collector.  Every collector should have a plan in place if they should
pass away unexpectedly so that their collection can be disposed of in
the correct manner (selling the collection or placing it on auction).

Also it is advisable when a collector has reached a point in their life
where they do not feel comfortable about caring for their collection,
they should plan to sell or auction the items that they no longer want.
Every piece should be professionally appraised for the value at a sale
or an auction.  If a collector should either pass on or is expected to
remain hospitalized for good, then the party who is in control of the
collection should do the responsible thing and try to offer the items
of the collection in an estate sale or auction.

In some cases, the party who is in control of an automatic musical
collection of a person who is either deceased or has been hospitalized
permanently will be forced to dispose of the entire collection through
sale or auction especially if an attorney in charge has directed that
the collection must be liquidated in order to settle the estate.

Jeff Alterman


(Message sent Sat 23 Nov 2019, 15:10:32 GMT, from time zone GMT-0800.)

Key Words in Subject:  Advance, Estate, Settle, Your

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