In case of my demise
 

Posted By: <b>John Harrell</b><p>my wife wanted to know how she might dispose of my collection of cards and bats. I told her she might call some of the people/companies who frequent this board. I have a fairly broad collection of collector grade, non--slabbed, complete sets from the 30's that, by the time I'm gone, should include all the Goudeys (sans most of the Ruths and Gehrigs), 33 and 34 WWG, R305, Batter Up, Delong, Diamond Stars master set, 41 Play Ball, 41 Double Play, both M.P.&Co sets, partial sets of U.S. Caramels and George C. Millers, and a basic set of T205's. In addition, I'll have most the complete set of runs of Bowman and Topps through 1980, plus my bat collection. My question is would this be something one of the auction houses would be interested in or is the quality not up to snuff. If not, what might be some other options for her.<br /><br />Suggestions?<br /><br />John<br /><br />

In case of my demise
 

Posted By: <b>davidcycleback</b><p>I think it's a important thing to give a spouse or future inheritor the name of people to contact for selling. It does neither of you any good if the spouse ends up with a collection she knows nothing about, including who to trust to sell. <br /><br />I would give her small list of reputable auction houses, big to small (small in case the big say not interested), at least one of who will handle it for her. Names that come to mind include Mastro, REA, Lelands, Huggins & Scott and Scott Gaynor. Board regular Barry Sloate holds auctions and he's well known as a reputable and knowledgeable guy. Between those folks, she will find someone to handle the collection for her and give her $$ for it. They will make her more money than if she tried to sell it on her own.<br /><br />No matter what the grade and whether or not professionally graded, if you have complete Play Ball, Goudey, Delong, and Diamond Stars sets, any of those auction houses will take your collection.

In case of my demise
 

Posted By: <b>Frank Wakefield</b><p>We should all leave an envelope with a letter that includes ideas about identifying aspects of our collections, and possible liquidation.<br /><br />I can envision that some of my stuff will get sold. I'd like to think that someone in the family would like to keep part of what I have, and add to it.<br /><br />And some of us should definitely put this information in an envelope, rather than a present in person explanation, lest we have to sell some stuff immediately!

In case of my demise
 

Posted By: <b>John Harrell</b><p>My thanks for your input. Until she asked the other night, I had not given the idea much thought. I had made provisions in my will for the collection but had not really gone so far as to include methods of liquidation should that be desired. This will go on my "to do" list immediately.<br /><br />John

In case of my demise
 

Posted By: <b>peter chao</b><p>John,<br /><br />In general the suggestions already made are pretty good. However, if you have an estate in excess of $600,000 it is important to speak with a CPA, they can give you suggestions on how to avoid paying excessive estate taxes. Also, even if your estate is worth less than $600,000 right now, it may be worth more than $600,000 by the time you pass away.<br /><br />If all your cards were purchased during marriage, in California, they would be jointly owned by you and your wife. That is advantageous because the cards should pass to your wife without taxation. Also your CPA can give you ideas as to who you should appoint as administrator to your estate.<br /><br />Your doing the right thing by trying to plan early. <br /><br />Peter C.

In case of my demise
 

Posted By: <b>Mike</b><p>Can you post a picture of your wife?

In case of my demise
 

Posted By: <b>Jim VB</b><p>You probably should not give tax advice. <br /><br />The current Estate Tax Exemption is NOT $600,000. It's $2,000,000. It goes to $3.5 million in 2009, becomes unlimited in 2010, and reverts to $1.0 million in 2011, when the current law expires. It has not been $600,000 since the year 2000.<br /><br /><br />Year Exclusion Amount<br /> <br /> <br /> <br />2001 $675,000 <br />2002 $1 million <br />2003 $1 million <br />2004 $1.5 million <br />2005 $1.5 million <br />2006 $2 million <br />2007 $2 million <br />2008 $2 million <br />2009 $3.5 million <br />2010 repealed <br />2011 $1 million <br /> <br /><br /><br />Always, consult a tax advisor/CPA not a Baseball card message board. <br /><br />

In case of my demise
 

Posted By: <b>peter chao</b><p>Jim,<br /><br />Thanks for the update. If I didn't make it clear in my previous post, please consult with a CPA.<br /><br />Peter C.