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Foolish Advice?

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Hoot,

 

My favorite is the commem programs where the fund-raising organization never did what it was supposed to do. We're still waiting on the World War 2 memorial, even though the coin sales in 1993 raised money for that program...

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Those are outstanding. I like the 1936 Elgin coin for that, best of all. The Pioneer Memorial statue, which the commem program funded, was not dedicated until 2001! Just outstanding. Simply superb.

 

Let's see then, the WWII memorial will be dedicated in 2058? shocked.giftongue.gif

 

Hoot

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The WW2 sticks out because now you can see the "please donate" boxes at Wal-Mart of all places. They'll be lucky to find a veteran to participate in any ceremonies at this rate.

 

Stone Mountain is a another classic, with the original sculptor being fired (he went on to carve Mt. Rushmore), and the project being stopped and started multiple times, as well as abandoned, before being finished in 1972.

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All of my children are not interested in coins. It then becomes a practical consideration to suggest as I did, because the first thing that they will do with the collection is sell it. Practically speaking, I am trying to maximize the estate that they inherit, since none of them have any knowledge of coin collecting.

 

 

Charles,

I certainly do not presume to manage your affairs. EVP motivated me to look up the previous proverb and in the process I came across the following:

 

Proverbs 20:21

"An inheritance quickly gained at the beginning will not be blessed at the end"

 

Perhaps this is because there is no appreciation for that which comes easily. Perhaps you should consider placing you collection in a trust for 10-20 years to allow both the coins and your heirs to appreciate.

 

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My money is in a Living Family Trust which administrated by my brother. The children need to leave it in the trust for so many years or they have to pay California Death Taxes which I am sure they do not want to do.

 

They will get the money on a schedule (I believe it is like 10 years). Then it will be treated as regular income. However I plan to be around and if by some miracle I am, the last check that I write on the day of my death will bounce! tongue.gif

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