Where will your cars and parts end up when you die

[58PackardWagon]

Sorry about being so bold on the title of this topic. I just have to get this off of my chest. In the last year I have seen three cases where individuals have been taken advantage of and I am just sick and tired of it! Two examples of this came directly from the Omaha Int'l National meet last year. Both buyers gave some song and dance about giving it the best home, loving the body style and colors or I always wanted a Studebaker....bla, bla, bla......sellers felt better about who they were dealing with and sold the cars for a lower price because of the buyers stories. Guess what happened to both cars? They both have ended up on ebay in less than a year. One actually sold for twice the money. And I am sad to say that this is what I think it all came down to, money. Someone just trying to make a buck. Also in the last year I have seen it where a member had died (spouse preceded him in death by a few months) and he did not have a will. A long lost brother shows up (who no one from the club had ever heard about) and takes everything. The older gentleman had expressed many,many times over the last 20 years to many members what he wanted done with his property, cars and parts but with no will, it couldn't be enforced. Needless to say there were no donations to certain charities or scholarship funds set up with the local colleges. Breaks my heart.

Club members need to stick together and help those who might not know what a car or pile of parts is worth. Some of these individuals are already having a tough time making it on social security....not to mention what their spouse gets on a monthly basis after they have died.

Maybe these scenarios could be a topic of discussion in your next chapter meeting. Is it to bold of a topic to discuss in a group setting? If you think it is, talk to your car buddy one on one over a cup of coffee or a ride in the country.

Where will your cars end up? What will happen to your parts? How will your spouse be taken care of? I can assure you the vultures are lurking. Thank you for letting me vent. I feel better already.

58 Packard Wagon (Parade Red)
58 Packard Wagon (Park Green)
58 Packard Hardtop
58 Packard Sedan
57 Packard Wagon
62 Daytona
63 Lark Custom 2 Door Sedan R2

[JRoberts]

My will specifically says that any vehicle 1972 or older goes to my son. He is a car guy and understands Studebakers. His 1958 Silver Hawk is under construction in my front yard as we speak.

Joe Roberts

[JRoberts]

My will specifically says that any vehicle 1972 or older goes to my son. He is a car guy and understands Studebakers. His 1958 Silver Hawk is under construction in my front yard as we speak.

Joe Roberts

[Guido]

This is a touchy subject, but as 58PackardWagon indicates, not having a will can be disastrous, not just in terms of your possessions, but also if you have a business or minor children. My wife and I have taken care of the will and trust accounts will be created fot my 2 daughters if my wife and I should expire before they reach 18.

I have not specified in my will about my "stuff", but my wife has commented a number of times about getting rid of it once I am gone. What I have done is make a comprehensive list of what I have (all my Studebakers, tractors, farm equipment and other vehicles) along with my purchase price, any funds spent and current market value. I have designated certain items (my threshing machines, grist mill, peanut combine, etc.) that will go to the local tractor show that I participate in (and the stuff is stored there too).

I have also given her contacts for the various types of items I have in the hopes they can help her dispose of the stuff at a reasonable price. She just sees it as "junk", but between the property I own where the majority of the stuff is stored and what I own, I am into 6 figure territory on value.

As with anything else, get it in writing and your chances of having your wishes honored are much greater.

[Guido]

This is a touchy subject, but as 58PackardWagon indicates, not having a will can be disastrous, not just in terms of your possessions, but also if you have a business or minor children. My wife and I have taken care of the will and trust accounts will be created fot my 2 daughters if my wife and I should expire before they reach 18.

I have not specified in my will about my "stuff", but my wife has commented a number of times about getting rid of it once I am gone. What I have done is make a comprehensive list of what I have (all my Studebakers, tractors, farm equipment and other vehicles) along with my purchase price, any funds spent and current market value. I have designated certain items (my threshing machines, grist mill, peanut combine, etc.) that will go to the local tractor show that I participate in (and the stuff is stored there too).

I have also given her contacts for the various types of items I have in the hopes they can help her dispose of the stuff at a reasonable price. She just sees it as "junk", but between the property I own where the majority of the stuff is stored and what I own, I am into 6 figure territory on value.

As with anything else, get it in writing and your chances of having your wishes honored are much greater.

[JDP]

My friends will make sure my cars and parts are taken care of. I expect they'll end up with some stuff for their trouble. As far as buying cars, then reselling them, it's bad Karma to tell a owner it's the keeper of your dreams when you are just going to flip it. Then again, I don't make a habit of telling the owner "I'm buying your car because your asking price is under market and I'll prep and flip it in a few months." Since I buy most of my car for resale on ebay, from ebay, it's not a issue.
I once bought a stash of 3 cars and a bunch of parts from a widow that was told the parts were worth only 2K by a vendor. I paid her well over double his offer, and still made a nice profit. The other guy told her "Studebaker parts aren't worth anything"

64 Commander-64 Daytona
64 GT R2 clone-63 GT R2
63 Avanti R1
63 Daytona convert-63
63 Lark 2 door
62 Lark 2 door
60 Lark HT-60Hawk
59 3E truck
52 & 53 Starliner
51 Commander

[JDP]

My friends will make sure my cars and parts are taken care of. I expect they'll end up with some stuff for their trouble. As far as buying cars, then reselling them, it's bad Karma to tell a owner it's the keeper of your dreams when you are just going to flip it. Then again, I don't make a habit of telling the owner "I'm buying your car because your asking price is under market and I'll prep and flip it in a few months." Since I buy most of my car for resale on ebay, from ebay, it's not a issue.
I once bought a stash of 3 cars and a bunch of parts from a widow that was told the parts were worth only 2K by a vendor. I paid her well over double his offer, and still made a nice profit. The other guy told her "Studebaker parts aren't worth anything"

64 Commander-64 Daytona
64 GT R2 clone-63 GT R2
63 Avanti R1
63 Daytona convert-63
63 Lark 2 door
62 Lark 2 door
60 Lark HT-60Hawk
59 3E truck
52 & 53 Starliner
51 Commander

[DEEPNHOCK]

You bring up an excellent subject.
It is more about personal responsibility than about Studebakers.
It is up to the individual to determine what, if anything, he or she wants done with whatever it is he or she leaves behind.
Getting mad at someone else because they exploited the seller is kind of...useless.
If a deal was struck, and the seller agreed, then it is a done deal.
Selling a Stude with a contract stipulating later use will kill the sale faster than lightning would.
Making a will is so easy these days...
$20 on the Internet, fill it out, run over to the bank and read it aloud (they are used to this, and do it all the time), and you are all set.
An hour's work...tops.
Your comment on whether the spouse would be taken care of is interesting.
That is distinctly the responsibility of the other spouse.
Shifting the focus of that after the fact just shows the lack of planning and/or forethought.
That might sound callous, but it is true.
The term you used 'vultures' is cold.
There are those in this club that refuse to sell or deal anything, preferring to believe that someday it will be worth gold.
Hoard until the bitter end, and then the result may not be what was intended.
Blaming a buyer and calling him a vulture isn't fair.
Which is worse?
A pile of parts hauled off to the scrap steel place, or a sale for modest dollars, so the parts can be re-used on other Studebakers?
When we leave this infested planet, there should be a clean up crew to pick up the mess..[}]
I know I will need one[:0]
On a personal note...
I think it prudent and responsible to prepare for the dispersal of my fine collection of crap.
Jamming that responsibility on my wife would be cruel and unusual punishment....
And she's been suffering from that fate all this time..
Jeff[8D]



DEEPNHOCK at Gmail.com
Brooklet, Georgia
'37 Coupe Express (never ending project)
'37 Coupe Express Trailer (project)
'61 Hawk (project)
http://community.webshots.com/user/deepnhock

[DEEPNHOCK]

You bring up an excellent subject.
It is more about personal responsibility than about Studebakers.
It is up to the individual to determine what, if anything, he or she wants done with whatever it is he or she leaves behind.
Getting mad at someone else because they exploited the seller is kind of...useless.
If a deal was struck, and the seller agreed, then it is a done deal.
Selling a Stude with a contract stipulating later use will kill the sale faster than lightning would.
Making a will is so easy these days...
$20 on the Internet, fill it out, run over to the bank and read it aloud (they are used to this, and do it all the time), and you are all set.
An hour's work...tops.
Your comment on whether the spouse would be taken care of is interesting.
That is distinctly the responsibility of the other spouse.
Shifting the focus of that after the fact just shows the lack of planning and/or forethought.
That might sound callous, but it is true.
The term you used 'vultures' is cold.
There are those in this club that refuse to sell or deal anything, preferring to believe that someday it will be worth gold.
Hoard until the bitter end, and then the result may not be what was intended.
Blaming a buyer and calling him a vulture isn't fair.
Which is worse?
A pile of parts hauled off to the scrap steel place, or a sale for modest dollars, so the parts can be re-used on other Studebakers?
When we leave this infested planet, there should be a clean up crew to pick up the mess..[}]
I know I will need one[:0]
On a personal note...
I think it prudent and responsible to prepare for the dispersal of my fine collection of crap.
Jamming that responsibility on my wife would be cruel and unusual punishment....
And she's been suffering from that fate all this time..
Jeff[8D]



DEEPNHOCK at Gmail.com
Brooklet, Georgia
'37 Coupe Express (never ending project)
'37 Coupe Express Trailer (project)
'61 Hawk (project)
http://community.webshots.com/user/deepnhock

[JDP]

Well said Jeff. Just a quick comment about the folks that buy from the widow. What often happens is the widow wants to sell everything as a lot, and that will lower the number of interested buyers and the price. (i.e. a vulture puts in the high bid)
I have a verbal agreement with a few friends to ebay our most collectible stuff for each other if the worst happens. That way, a Studebaker sign that is worth a few grand won't go for peanuts. I'd rather see a friend end up with 10-20% of 100K in a parts for helping a liquidation then have the wife keep 100% of say 50K.

64 Commander-64 Daytona
64 GT R2 clone-63 GT R2
63 Avanti R1
63 Daytona convert-63
63 Lark 2 door
62 Lark 2 door
60 Lark HT-60Hawk
59 3E truck
52 & 53 Starliner
51 Commander

[JDP]

Well said Jeff. Just a quick comment about the folks that buy from the widow. What often happens is the widow wants to sell everything as a lot, and that will lower the number of interested buyers and the price. (i.e. a vulture puts in the high bid)
I have a verbal agreement with a few friends to ebay our most collectible stuff for each other if the worst happens. That way, a Studebaker sign that is worth a few grand won't go for peanuts. I'd rather see a friend end up with 10-20% of 100K in a parts for helping a liquidation then have the wife keep 100% of say 50K.

64 Commander-64 Daytona
64 GT R2 clone-63 GT R2
63 Avanti R1
63 Daytona convert-63
63 Lark 2 door
62 Lark 2 door
60 Lark HT-60Hawk
59 3E truck
52 & 53 Starliner
51 Commander

[58PackardWagon]

You guys bring up some great points. Thanks you. One note to add, the guys that bought both of these cars were not Studebaker guys. Which for me was comforting. Also in ref to JDP I have no problem with how you conduct business. In my opinion you are saving a lot of Studebakers and putting them back on the streets. Take care

[58PackardWagon]

You guys bring up some great points. Thanks you. One note to add, the guys that bought both of these cars were not Studebaker guys. Which for me was comforting. Also in ref to JDP I have no problem with how you conduct business. In my opinion you are saving a lot of Studebakers and putting them back on the streets. Take care

[HookedonStudies]

It's worth repeating - the problem is on the front end - make a will, clearly state your wishes for disposal of all assets (not just Studebaker stuff) and voila - your wishes will be honored. I have no problem with the reputable buyers and sellers - but there are also vultures out there squeezing every last drop of blood from an unsuspecting widow or elderly fellow. Finding a "good home" for a Studebaker is more important to some than others, but if that is a priority it can (and should) be spelled out in the will.

55 Commander
58 Transtar
62 GT Hawk
66 Cruiser

[HookedonStudies]

It's worth repeating - the problem is on the front end - make a will, clearly state your wishes for disposal of all assets (not just Studebaker stuff) and voila - your wishes will be honored. I have no problem with the reputable buyers and sellers - but there are also vultures out there squeezing every last drop of blood from an unsuspecting widow or elderly fellow. Finding a "good home" for a Studebaker is more important to some than others, but if that is a priority it can (and should) be spelled out in the will.

55 Commander
58 Transtar
62 GT Hawk
66 Cruiser