Estate Planning - Sell or Donate?

[sayhey24]

It's a good question, and something a lot of us should be thinking about.

I have already begun the process. I am selling about 70 percent of my collection now to relieve my family of the burden and to help pay for college tuition.

I think in many cases, it may be tough for a family to figure out what to do with your collection, if you were to suddenly pass. For the part of my collection I am keeping, I have formally arranged with two trusted people in the hobby to liquidate on behalf of my family.
There are also estate and inheritance laws to consider -- are your heirs better off if you give them items or money before or after you pass?

I am also in the process of donating/loaning my collection of local baseball memorabilia to an area museum/library.

There is obviously a lot to consider, so as with so much else in life, it's good to plan ahead.


Greg