Who gets your bikes when you die?
11-09-15, 06:14 PM
#1
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Who gets your bikes when you die?
I've been pondering that question - I've got about $40K into my collection with accessories - of course with depreciation the cash value isn't great. And it will all become obsolete ... Oops, it already did the day I bought it. 
I have two awesome cycling friends - and they are both in Europe - so shipping it when I achieve ambient temperature would have be part of the deal - or liquidate and send them whatever pittance on the dollar my estate might get out of them.
Best reason I can think of to keep current in gear!
I have two awesome cycling friends - and they are both in Europe - so shipping it when I achieve ambient temperature would have be part of the deal - or liquidate and send them whatever pittance on the dollar my estate might get out of them.
Best reason I can think of to keep current in gear!
11-09-15, 06:19 PM
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My bikes will probably go to craigslist for the best prices I can get -- unless my favorite bike shop will either buy them for resale or handle the sale and take a percentage of the price.
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The Lord is merciful and gracious, slow to anger and abounding in steadfast love. - Psalm 103:8
I am a cyclist. I am not the fastest or the fittest. But I will get to where I'm going with a smile on my face.
The Lord is merciful and gracious, slow to anger and abounding in steadfast love. - Psalm 103:8
I am a cyclist. I am not the fastest or the fittest. But I will get to where I'm going with a smile on my face.
11-09-15, 06:22 PM
#3
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I have one son who is an avid cyclist… but he is not my size.
I have one son my size who does not (yet?) bike.
Anyway, I don't have to worry about it. I will be dead.
I have one son my size who does not (yet?) bike.
Anyway, I don't have to worry about it. I will be dead.
11-09-15, 06:27 PM
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I haven't worried about it as I anticipate a lot more water under the bridge, and a lot could change before I start growing daisies. Of course, I could get smacked by a car tomorrow, but then I'm not going to worry about it.
My father only had one bike, and my brother now has it. I don't know if he's riding it at all.
My father only had one bike, and my brother now has it. I don't know if he's riding it at all.
11-09-15, 06:35 PM
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Sometimes when I clean the garage I ask myself if I am just cleaning or am I also maintaining the items for the estate sale. I have no one who would particularly benefit from my personal stuff.
11-09-15, 06:42 PM
#6
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Garage sale or the like, I guess. I'm the only one in my family who is interested in, and still able to do, bicycling.
In a related note, $40,000 in stuff? Can I get into your will for a groupset and 700C wheelset?
In a related note, $40,000 in stuff? Can I get into your will for a groupset and 700C wheelset?
11-09-15, 07:31 PM
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No one else in the family is 1) interested, or 2) my size. My guess is they'll go to the local Goodwill.
11-09-15, 08:20 PM
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I've often thought I should tell my wife to contact one of the local BF guys to take all the bike stuff, sell it for what it's worth... take a percentage and give her the rest... gotta be better than an estate sale.
11-09-15, 08:30 PM
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Screw the bike, what abut the car?
11-09-15, 08:58 PM
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With three sons, and a bent bike and a trike, plus lots of tools, the boys can haggle over them. Maybe I will have them bury me with a multi bike tool in my hand.
11-09-15, 09:36 PM
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11-09-15, 09:39 PM
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11-09-15, 11:05 PM
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11-09-15, 11:07 PM
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The Smithsonian can have mine if they want them. If not, whomever ends up picking through my belongings.
11-09-15, 11:11 PM
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Jeez , that's the last thing on my mind. But my son, who among other things has been a mechanic, will get all my tools.
11-09-15, 11:42 PM
#20
You gonna eat that?
My wife will sell them. It's okay, I won't need them anymore.
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I stop for people / whose right of way I honor / but not for no one.
Originally Posted by bragi "However, it's never a good idea to overgeneralize."
11-10-15, 06:30 AM
#21
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Mine will go to my daughters.
11-10-15, 11:20 AM
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My older brother passed away earlier this year; no spouse, no children, no will. Since it is just my younger brother and me, we get along great, we are local, it has not been a major problem. But from the few times we had to go to probate court, we have seen some of the other cases and it can be a big hassle. It is pretty amazing what happens to people when stuff is involved. Here are my thoughts...
If you have some people who will really appreciate your bike stuff, you need to set something up to make sure they get your collection. I'm not an estate planner, so you'll need to find someone to give you advice. You need to find someone who will take what you have done over the years and use it the way you want them to. In my opinion, if you can, the best thing you can do is to not leave a lot of debt that forces an heir to just liquidate the estate with little control over it. I believe the creditors will get paid first.
Fortunately my older brother was solvent when he died and that has allowed my younger brother and I a lot of latitude over the best route to take. While not a cyclist at all, he did have his Legnano from the 60's that my younger brother will lovingly get back on the road. To me it is more important to see the bike being ridden again after all these years than just selling it off to someone.
John
If you have some people who will really appreciate your bike stuff, you need to set something up to make sure they get your collection. I'm not an estate planner, so you'll need to find someone to give you advice. You need to find someone who will take what you have done over the years and use it the way you want them to. In my opinion, if you can, the best thing you can do is to not leave a lot of debt that forces an heir to just liquidate the estate with little control over it. I believe the creditors will get paid first.
Fortunately my older brother was solvent when he died and that has allowed my younger brother and I a lot of latitude over the best route to take. While not a cyclist at all, he did have his Legnano from the 60's that my younger brother will lovingly get back on the road. To me it is more important to see the bike being ridden again after all these years than just selling it off to someone.
John
11-10-15, 11:35 AM
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Got any trading stock? I've got a 700c wheelset - Open Pro rims on Tiagra hubs that could have your name on it. For you I'd even throw in an 11/34 9-speed cassette.
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My greatest fear is all of my kids standing around my coffin and talking about "how sensible" dad was.
11-10-15, 11:46 AM
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I suppose my son can have my bikes. Problem is, at the rate he is growing, he will likely be too tall for my bikes by the time he reaches his full height.
11-10-15, 12:50 PM
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I'd guess my wife or daughters will haul them down to Goodwill.
4 bikes @ $100. Now that's a depressing thought. They're worth a lot more! (Well, three of them are...)
4 bikes @ $100. Now that's a depressing thought. They're worth a lot more! (Well, three of them are...)
