The Daily Puppy

Wednesday, September 22, 2010

COLLECTORS BETTER LEAVE A WILL









Book Chase
The problem is I want to read it all but I fall farther behind every day.

I TOOK THE LIBERTY TO POST THIS ARTICLE THAT APPEARS ON BOOKCHASE, SAM SATTLERS SITE. I HOPE HE DOESNT MIND FOR HE SURE GOT ME THINKING OF MY COLLECTION.



Tuesday, September 21, 2010You Can't Take Them with You When You Go
One thing many of us have in common is the time, effort, and money we've invested in building our own home libraries. We build them, we enjoy them, and then we leave this world without taking any of those wonderful books with us. Have you ever wondered what will happen to your collection one day? Is there anyone in your family that cares about books the way you care? Will anyone in the family even have the space needed to keep all your books together.

Here's a cautionary tale from The Columbus Dispatch:

Walker Lowman's beloved collection of 6,500 books - about the same number that Congress purchased from the third president in 1815 - is being scattered all over town.


"He would probably not be very happy right now that his collection is being broken up," said daughter Karen West, 57.


While helping appraiser Jeff Baker organize the contents of Lowman's Upper Arlington home in advance of an estate sale starting today, the Northwest Side resident shared reminiscences this week about her father - who died in January at age 85.
[...]

The siblings did what they could to keep things intact, dividing about 1,000 books among them. The rest were offered to the OSU Rare Books and Manuscripts Library, which selected about 200 - many of them first editions signed by their authors.


"Nobody in the family had room for 6,000 books in their home," West said of the decision to donate and sell the remainder.
Mr. Lowman's children are doing everything possible to do what is right with their father's lifetime collection, but there is only so much anyone can do when faced with the sudden burden of finding a home for more than 6,000 books.

Is this something we, as collectors and book lovers, should take care of before we leave this world for our next gig? Should we find future homes for our books and leave written instructions for those left with the task of cleaning up behind us? It's certainly something to think about and I might just start placing little name tags inside the books I want to see kept in the family - as a start to easing the burden on my own family. Another thing I need to do is to prepare a list of which of my books have some extra value so that they don't get lost in the shuffle. Just what I need...another bookish project.
Posted by Sam Sattler
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HOW TO DO YOUR OWN WILL


It is important to write a will in order to ensure that your loved ones are taken care of in the event of your passing, or that you do not leave behind unfinished business for which your friends or family may be liable. When preparing a will, you can not only state how you want your assets to be allocated, but you can leave funeral arrangements and other information in your last will and testament. If you want to write your own will, here are the steps.
.Difficulty: Moderately Challenging
Instructions.1
Get free legal forms for writing a will. It is best to get these forms for your state specifically in order to guarantee they will apply. Go to your local courthouse to get the forms to make a will. You can also get free will forms online. Choose a form that fits your specific status. There might be different forms for married couples, singles without children and singles with children. The majority of states require you to be 18 to make a will, although there are some exceptions. A will is subject to probate proceedings, is court supervised and open to the public. A will must be handled through power of attorney, you upon your death.

2
Name the will. The most common name for a will is "Last Will and Testament." Add in address, state, and mental state at the time of writing the will. Make sure each section of your will is numbered and in sequential order to avoid any confusion.

3
Designate executors and beneficiaries for your will. You will need to name people who will be in charge of carrying out the specifics in your will (executor) and those who will benefit from your asset allocation (beneficiaries).

4
Write in the beneficiaries of the estate, but also add in alternate beneficiaries if the first chosen do not survive to claim the monies or assets. Be sure to leave funeral arrangement information and other information that may be pertinent.

5
Create guardians for your children or pets. Guardians have to be over 18 years old in order to be legal. Be sure to set up a trust for your children that will help to support your kids. You will also need to choose a trustee who will distribute the assets to your children. Be sure to choose someone you trust implicitly to act as a trustee.

6
Add a living will into your will if you choose not to be kept alive on life support should the issue arise. Include the statement that you do not want to be kept alive using any artificial means if you do not want to be kept alive if this is your preference.

7
Date and sign the will. Have witnesses as you are writing a will and declare your mental competence to write the will to ensure that the document is legal. The will is only legal if you sign it in front of at least two people. The witnesses must also sign the will. When writing your own will, sign the will in front of a notary and be sure the will is legal. Although this is not always necessary, it is a good step to take to avoid any disputes.
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