Inheritance - splitting up your collection in your will

[Mark]

It's very thoughtful and decent of all of you to sell your collections as you grow old or to organize things for the estate sale. My late father had large accumulations of coins, stamps, among other things, and he didn't prepare for his passing at all, even though he lived into his early 90's. To my surprise, I didn't mind going through his collections, his tools, his investments, his piles of junk. I am probably a rare case: it helped me deal with his death. I won't expect my heirs to welcome a similarly disorganized inheritance from me---but I expect I'll leave them to do a little bit of sorting out, just in case.

[bmattioli]

My collection will stay intact and with me until the end. Non-Negotiable..

[parkplace33]

Originally Posted by bmattioli

My collection will stay intact and with me until the end. Non-Negotiable..

What do you expect to happen to your collection when you pass on? Have you outline any special plans?

[Exhibitman]

Long term care is crazy-expensive. This last year I've had to deal with it for both parents. Memory care (dementia) will run anywhere from $8,000 a month on up. Skilled nursing (basically for bedridden and completely gonzo mentalities) is even more.

The insurance helps but it won't cover everything. And the waiting period and claims processing can be brutal. Even the best policies have a 30-day deductible and don't start processing payments for 90 days after the start of care, so you are looking at paying OOP for at least three months before the insurer turns on the spigot. I basically had to liquidate my parents' assets to make sure they were covered for the longer term, even with both having long term care insurance.

I just got my long term care insurance coverage approved. All I can say about that is look into a policy while you are relatively young (age 45 is a good time) and do not skimp on the inflation rider. Most policies offer 0%-3%-5% options. In researching facilities for my parents I found that the average cost increase is 4% or more per year. You really have to opt for the 5% to keep up with costs.