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<p>[QUOTE=&quot;Publius2, post: 26679279, member: 105571&quot;]I&#039;m 74 now.&nbsp; At this point, I intend to continue collecting until I die.&nbsp; The wife and children have no interest in my coin collection.&nbsp; But it is worth a fairly significant amount of money.&nbsp; So, about 18 months ago I took several steps to make sure they can make intelligent and informed decisions when I pass and to simplify that process as much as possible.</p><p><br /></p><p>1)&nbsp; Made sure my will states all personal property belongs to my wife.&nbsp; And in the event we pass together, the estate is evenly split between the two children.&nbsp; Wife&#039;s will says the same thing.&nbsp; </p><p>2)&nbsp; Started composing a document explaining the things they will need to know to dispose of my coin collection.&nbsp; That document is about 80% complete and right now is about 15 pages long.&nbsp; I&#039;ll have to pare it down when it&#039;s completed during final editing.&nbsp; But it talks about rare coins, unique coins, raw coins vs. slabbed, tax issues, definitions of common numismatic terms and standards, and security.&nbsp; Among tax issues is a discussion of stepped-up basis for capital gains tax including suggestions for how and where to get an appraisal. Routes to evaluating value for different categories of coins.&nbsp; Suggested venues for sale for different categories including who/what to steer clear of.&nbsp; Where collection documents are stored and in what formats.&nbsp; Exonumia that has value.</p><p>3)&nbsp; Started paring down the collection with a goal of eliminating any raw coins of any significant value that would be more difficult for them to sell:&nbsp; Sold off collections I was no longer interested in.&nbsp; Had some raw coins graded to determine if I wanted to keep them or sell them now.&nbsp; I&#039;m about 99% complete on this effort.</p><p>4)&nbsp; Started selling off lower-grade examples from the collections I&#039;m retaining and upgrading those pieces to higher-grade and more valuable coins.&nbsp; Some of this is just a continuation of my collecting but it has a nexus to the ease and enhanced value of disposition.</p><p><br /></p><p>If you put yourself into the mind of a person that knows absolutely nothing about coins, coin collecting, grading, buying/selling or any other aspect of the hobby/business you&#039;ve been involved with for decades, then you can start figuring out how to guide them to a desirable outcome.[/QUOTE]</p><p><br /></p>

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