What happens with your car after your gone?
 

It's not the most popular topic but an important one none the less.

I've been on the receiving end of calls where family members are looking to understand just what they have and a path forward after the loss of a loved one.


Do you have a plan?
Have you made it clear?
Does your family know what your wishes are for your car(s)?
Does your family know enough information about your car/truck etc to make an informed decision?
Have you written down information they may need? (Vin, insurance info, uniqueness, approx value with references, trusted vendors or friends to contact should it need evaluating etc)


Granted this may not be the highest priority at first, but rest assured it will eventually arise and knowing even some basic info will be important.


It may never come into play but if it does, your family and friends will appreciate the fact that you cared enough to go the extra mile.


I encourage you to make a plan.





JP

Thanks for bringing this up. I already have given it some thought, for a majority of my stuff. Some things have yet to be figured out. I've been to a few estate sales and I see what offspring/siblings are left to deal with. My significant other and I have discussed it. I've got way more than her, but she doesn't fully know/understand what I've got. It's good to get things figured out.

I put together a Trust to protect everything & everybody. My girlfriend of 20 years plus had no legal claim to anything including the home we built together. Without the Trust, her life would be a living hell till it was resolved. Protect your assets....Joe

My wife has asked about this a couple times and I told her to have our local Chevelle and Camaro club members over, which I am a member of, and sell everything for whatever she can get. There's nothing special here, except to me, so it's only worth what people are willing to pay for it.

i'm giving them all away..done cars, projects and all the parts that go with them..some to friends..some to family

An attorney told me a few years ago to put all that in a will or legal document, so it was in writing. If not in writing, it can be contested. I didn't do that, but if those are your intentions, you may want to consult an attorney to make it legal, if you haven't already done so.

....hopefully she won't sell them for, what you told her you paid for them.

It's heart wrenching to see someone sell, hang on to or even let a car go because they just weren't sure what to do or how to go about it. The important thing is to make a plan now.



JP

This happens quite often when the family is left with a car that was their dads pride and joy. The family wants nothing to do with the car and just wants it gone. I saw this with my brothers co-worker. His deceased father in law had a 1970 Malibu 2 door that was pristine. Bought in new and babied it all his life. He asked my brother if he knew if it was worth anything. My brother knows nothing about cars so he asked me. I got some pics and told them I thought he could easily get $12,000-$15,000 for it.
He said they were going to sell but all the kids had to get together and he would get back to me. I would ask my brother weekly about it.
Anyways a month or so goes by and its gone. One of the sisters threw it up on craiglist for $2000. I guess the first guy that saw it bought it. It was a really nice 1970 Malibu granny car.

A few years back, after the attorney advise, I did make a list of what I had at that time and my perceived values, being most are project cars, and my wife knows those values. BUT, are those values relevant when the time comes ? I believe as we, the muscle car era guys that value these cars are gone, the values will drop rapidly. The collector models and restorations may hang onto some decent value, but the LSx and electric motor generations aren't going to want to pay 20k+ for a project car. Like I said earlier, they will only be worth what the market and people are willing to pay on the day they go up for sale.