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Are you prepared to die...

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Forum topic by DKV posted 06-18-2015 06:04 PM 932 views 0 times favorited 10 replies Add to Favorites Watch
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DKV

3940 posts in 1970 days


06-18-2015 06:04 PM

Whether or not we like it generally speaking women outlive men. If you died tomorrow have you prepared your shop for your death. I’m primarily talking about do you have an inventory of all your equipment and tools to make it easy for your wife to sell them and not get ripped off in the process. I still have to make a list of everything I have and a suggested sale price when the time comes to clear out the shop.

Even though she hates talking about my death my wife has told me that she would probably leave everything as it is until it was time to sell the house and clear everything out. She would really appreciate a list that would assist her in the process. A list that contained a picture, the date of purchase, the purchase price and a suggested yardsale price. Except for the suggested yardsale price the list could also serve as an insurance list should something happen to your shop during your lifetime. Killing two birds with a single list if you will.

Most of us have a will or trust to take care of our loved ones should we die. The shop list is just an added nicety for those that we leave behind. How many of you have considered this and what has your approach been?

-- This is a Troll Free zone.


10 replies so far

View Smitty_Cabinetshop's profile

Smitty_Cabinetshop

13738 posts in 2084 days


#1 posted 06-18-2015 06:13 PM

I have a journal that discusses my shop activities and all tool purchases going back to the first days of my shop. i also have a spreadsheet listing all tools with purchase prices, with notations where the tool is discussed in the journal.

-- Don't anthropomorphize your handplanes. They hate it when you do that. -- OldTools Archive --

View Blackie_'s profile

Blackie_

4535 posts in 1978 days


#2 posted 06-18-2015 08:17 PM

Great topic and ideas.

-- Randy - If I'm not on LJ's then I'm making Saw Dust. Please feel free to visit my store location at http://www.facebook.com/randy.blackstock.custom.wood.designs

View TravisH's profile

TravisH

452 posts in 1401 days


#3 posted 06-18-2015 08:41 PM

I would see this as only pertaining to larger shops. My “shop” is small so we are taking about table saw, band saw, jointer, planer, routers, (nothing high end) etc…. If my wife/kids are financially in need of the fair market value of my tools they are screwed. Honestly I would see myself as a complete failure in regards as husband/father if my used tools made a hill of beans. They have been told if they would want to keep the stuff to use then do so, give it away that is fine, sell it sure as I really don’t care…..I am dead. Only thing I hope is they don’t put some sort of stupid sentimental need to keep the stuff.

View redryder's profile

redryder

2394 posts in 2567 days


#4 posted 06-19-2015 06:17 AM

I guess your assuming that after your dead your wife’s new boyfriend isn’t a woodworker….....................

-- mike...............

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DKV

3940 posts in 1970 days


#5 posted 06-19-2015 06:21 AM

Red, just one of my assumptions…also, I (sic) your “your”.

-- This is a Troll Free zone.

View Dark_Lightning's profile

Dark_Lightning

2635 posts in 2575 days


#6 posted 06-21-2015 02:27 AM

My wife knows the value of my tools and vehicles and is pretty damned shrewd about getting the value out of a thing, so I’m not worried. Plus, if I die first, she has the cash out of my 401(k) and the cash out of one pension (all invested), plus the medical and other pension, which is paid out monthly. All my tools’ cost amounts to about $80k, which is pretty much chump change in the grand scheme of it.

Also, I’m donating my body to science when I’m dead. The source I’m using takes what they want for medical research and then cremates the rest and returns them to your family…for free. I’ll be spread out to sea after that; no need to even turn an urn. On the plus side, there won’t even be a shaman with a rattle to shake, censer to swing or water to sprinkle on me, either.

-- Random Orbital Nailer

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DKV

3940 posts in 1970 days


#7 posted 06-21-2015 02:30 AM

Your chump change can buy a lot of milk and bread. 80k will support my wife and I for a year…

-- This is a Troll Free zone.

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Andre

1023 posts in 1272 days


#8 posted 06-21-2015 03:09 PM

Well we have a wood burning fireplace so guess there would be some real expensive fires for a little while!
Hope one of my grand daughters will want my tools? Think the Wife’s boyfriend is more like a Girly Man. LOL

-- Lifting one end of the plank.

View Redoak49's profile

Redoak49

1954 posts in 1454 days


#9 posted 06-21-2015 03:11 PM

NO NO NO …I am not prepared to die….I really do not like to think about it. Have I prepared my affairs, of course.

I am not certain what my shop is worth. If you have been woodworking for 45 years, you gradually accumulate a lot of small tools and these are worth a lot. I need to redo my shop inventory. I go thru and get pictures of what is in each drawer and cabinet. For power tools, I take a picture and then a close up of the plate with model and serial number. A copy of the DVD with pics goes to two places out of the house.

View Chris's profile

Chris

191 posts in 773 days


#10 posted 06-23-2015 10:18 PM

I just don’t want her to sell them for the price I told her I paid.

Besides, they need to saved and preserved for my Memorial Library and Museum. I figure if Clinton can have one, why not me?

-- Liberalism... Ideas so good, they have to be mandatory.

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