Make sure your loved ones know about your hidden wealth

Written by Maksim. Posted in Financial Planning

Substantial old coin collections, old baseball cards, lighters, pez dispensers, firearms.  Most everyone at some point will find themselves collecting something.  I happen to have a decent collection of firearms, those that were not lost in that terrible boating accident of course (joke within the gun community).

What is often sad to see, however I have been on the winning end of the deal, the number of pristine and quite valuable firearms that are sold to dealers for pennies on the dollars by widows who do not know any better.   Why?  Because either their spouse did not tell them about his collection or convey his wishes.  Even worse, seeing beautiful and rare collectibles turned in to be destroyed.

You can imagine it now right?  God forbid something happens to you.  Your spouse finds your gun collection and does not know what to do with it.  On the radio, she hears about a gun buyback program and turns in your Colt Python .357 revolver for a $50 gift card to Walmart.

If that is the case, she either hated you, or you did not do a good job educating your loved ones your final wishes for the orderly disposition of your collectibles.

What I have done is put together a form you can use to put together on one form, all the vital information your spouse or family will need, in order to honor your wishes.  The form gathers the basic firearms information, where the firearm is store, the approximate value that you filled in, and your wishes for it, be it you want it to be sold, donated, or given away, and to whom.

The inventory sheet also has information for you to fill in whom your loved ones should contact in case they have firearms related questions, whom your preferred firearms dealer is, as well as most of all, the combination to the safe, or where it can be found.  Lastly, I added a note as to where they can find the most recent gun values, recently sold values, as well as the Blue Book of Gun Values, the same price guide used by firearms dealers.

You can download the sample  PDF here.

For an editable excel file to type your information in, fill in the form below subscribing to our email updates, and to download the blank pdf and editable XLS files.


Trackback from your site.

Leave a comment

Please Spread the Word