Estate Planning and the Old VWs

[vwwestyman]

First son was born in October, so we're working on estate planning to make sure he's taken care of, should something happen to us.

Wife asked what I would want to happen with the old VWs. I said that I'd want Silas to have them, of course. Naturally I am doing everything I can to indoctrinate him to the point that he'll want to have/take care of them!

The problem for now is that since babies can't drive a stick-shift, is what to do with them if something were to happen to me while he's still too young?


She suggested maybe they could be given to someone to caretake and drive until he's old enough, but that seems somewhat risky. If nothing else, titling would either be difficult or difficult to ensure that he'd eventually get them back.

And the people who we'd trust to otherwise carry out that kind of thing, wouldn't know the first thing about making sure an old VW is taken care of. I suppose they could just be put in storage someplace to be held until he's ready, but even then ensuring that is taken care of properly seems like a challenge.

So I thought I'd throw this out here on The Samba and see if anyone else has thought about similar things and what they came up with?
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Dave Cook

President, Wild Westerner Club

1978 Champagne Edition Westy, repowered to '97 Jetta TDI
1973 Wild Westerner
My Thing

[crukab]

When we did our Will a few years back, I designated my Daughter to get the '66 SC, she is a Farmer & sells @ Farmers Markets, which the truck would be great for. My Son will get the '86 Doka, he went with me 5 hours into Canada to look at buying it in 2002, we even had a break down in the Jetta, and spent a night in Hotel, great memories. The '91 is to be kept by my wife, she really likes it, we have owned it since 1998, she was all about putting the Tiico engine in it to keep it on the road, and was so proud to bring our 1st Grandkid home to Vt. in it.
If they don't want the VWs, they will be sold.
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Tom

My Pops:
http://www.thesamba.com/vw/forum/viewtopic.php?t=604100&highlight=
I know you will always be with me, rest in peace with no more pain. 8/13/14.....

In the yard right now:
'51 Dodge 5 window truck
'65 Bug
'66 Singlecab
'82 Rabbit Truck Diesel from CALI
'86 Doublecab W/T
'91 Vanagon carat/wolfsbrg.Tiico
'88 Dodge Ram pickup
'11 Jetta Wagon

[Abscate]

Nice to plan for the protection of the young

When My father died, his will said each sibling had to leave $10,000 in his coffin. Each of my four brothers dutilfully complied, and I picked up the $40,000 and put ina check for $50,000
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.ssS!

[KTPhil]

Think about putting it in a Living Trust (along with any other significant property like your home), to be transferred when he reaches a certain age, and with an executor to ensure these terms are followed. You avoid probate, and inheritance taxes. You can add more trustees as your family grows.

[Evil Clown]

AAPL
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CARRY ON

[vwwestyman]

[Abscate]

Keep it simple. Carry enough life insurance that whoever takes custody can easily put it into storage, and pay someone like Robbie to tickle it once a year.

You dont need to codify that, just let your wishes be known to the Custodian

We had to do a bit more thinking about this with six, but we got there in the end.
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.ssS!

[gt1953]

Here in Arizona our motor vehicle department has a form you fill out that transfers and clears the title upon death Also check with an estate attorney as they may shed light on what you want to do. Our grand sons have a type 1 but they decided not to learn how to work on them so I am selling them. They are getting some of the proceeds for a more modern safer vehicle.
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Volkswagen: We tune what we drive.
Numbers Matching VW's are getting harder to find. Source out the most Stock vehicle and keep that way. You will be glad you did.

72 type 1
72 Squareback
({59 Euro bug, 62, 63, 67, 68, 69, 73 type ones 68 & 69 type two, 68 Ghia all sold})

[Glenn]

Have someone sell the cars and invest the proceeds.

Storing car for 10-20 years means they will deteriorate and it will take time and money to get them up and running. And who says your children will want them.

Just because you love VWs doesn't mean your kids will.

My adult children have no desire to ever have my car. If I pass before selling it, my wife knows to have a good friend sell it for her.
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Glenn
74 Beetle Specs | 74 Beetle Restoration | 2180cc Engine
"You may not get what you pay for, but you always pay for what you get"

Member #1009

#BlueSquare

[vwracerdave]

You are turning a very simple situation into a very complicated mess.

Have a will that states son gets VW. That is all you can do. Whatever happens after you have passed is beyond your control. You may get rid of the VW long before your son is even old enough to drive it.

Why are you betting you are gonna die before your grandkids are born?
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2017 Street Comp Champion - Thunder Valley Raceway Park - Noble, OK
2010 Sportsman ET Champion - Mid-America Dragway - Arkansas City, KS
1997 Sportsman ET Champion - Thunder Valley Raceway Park - Noble ,OK
Featured in Dec. 2001 HOT VW's Magazine page 63

Watch my racing video's http://www.youtube.com/user/okvwracer/videos

[vwwestyman]

[anthracitedub]

I told my sons to sell anything that was mine that they wish.... it’s all just stuff.
They were born into VW life and couldn’t give 2 shits about either of the cars, the tools or any of the other trinkets that go along with it.

[iowegian]

[Glenn]

[Tom K.]

I'll add that more than a few Samba threads have been started by people who inherited a VW from a relative, let it sit for a decade or more, and then wanted to begin the process of restoring it. These are nice stories.

As a new father, be prepared for the fact that your children may not appreciate your hobbies or your favorite sports or your taste in music. You'll know when they turn about 17. You can still love them as if they did.
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'91 Vanagon Westfalia
'70 Beetle Convertible
'71 Super Beetle Semi-Automatic: https://www.thesamba.com/vw/forum/viewtopic.php?t=714131&highlight=
'65 Ghia: https://www.thesamba.com/vw/forum/viewtopic.php?t=762478&highlight=

[sportin-wood]

This subject reminds me a lot of one of my favorite father-daughter threads where the '64 type-1 restoration project was just about completed and the daughter lost interest. It's a very good read with an unfortunate ending (interest-wise for his daughter).

https://www.thesamba.com/vw/forum/viewtopic.php?t=...mp;start=0
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Paused 66 project bug
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"Relax, all right? My old man is a television repairman. He's got this ultimate set of tools. I can fix it." --- Jeff Spicoli

[rcroane]

I kept it simple. Our wills and trust divide everything equally between our two children. I have prepared notes to help them with the disposal of certain assets should they decide to sell them. One of those is my '65 bug. The notes provide names of a few VW mechanics/enthusiasts that I trust, as well as, suggesting places like the Samba classifieds to list it for sale. Most importantly, if they decide to keep it, they'll also get my Bentley manual, Muir Idiot's Guide, and all my tools!
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'65 Sunroof Bug

[vwwestyman]

Some good advice in here. I certainly understand that he may not care that much about them. And when I'm dead, I guess I won't know.

For while he's a child, at least, I am mostly concerned about having them kept safe until he's old enough to either appreciate them, or decide to sell them.
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Dave Cook

President, Wild Westerner Club

1978 Champagne Edition Westy, repowered to '97 Jetta TDI
1973 Wild Westerner
My Thing

[danfromsyr]

see this is the problem when text is taken out of context..
so often the subject in court or the court of pubic opinion

[aa390392]

Note inside will ...call oldbugs.com ie Carlson
Parts go to a good VW friend.
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getting grumpy & less tolerant!


55 ragtop
56 delux sedan
56 Kabriolet