July 2001

Perhaps you are an antique collector and you've visited other attorneys and reviewed typical Will language for disposing of tangible personal property. Prompted by the first sentence, you now recollect that your Will says:

"I give and bequeath all of my books, pictures …and all of my other tangible personal property to my spouse, if my spouse is then living, or if not, to my children living at my death in equal shares."

If you are a collector of fine wines, model trains, antiques, coins, stamps, art, jewelry or other collectibles and have accumulated a significant collection at your death, such a Will disposition could cost your family dearly in lost value and lost opportunity to keep your collection together for their enjoyment.

Rhoads & Sinon LLP, utilizes a tailored approach to plan the estates of collectors. We ask about your interests, hobbies and collections before we suggest a pattern for disposition of your tangible personal assets. We help you identify important collections or pieces (and we note the location of same). We'll discuss your appraisals, your knowledgeable associates and your notions of potential markets for your collection. We are interested in working with you to ensure that your collection not only adds a valuable asset to your estate, but also, through careful planning, is not lost, broken up or burdensome to your family. With proper estate planning, your collection can bring the same pleasure to your heirs and beneficiaries as it has to you or be preserved to a more public place.

For more information on Estate Planning for Collectors, contact a member of the Trusts and Estates Group at (717) 233-5731.