Plans for your car after you die

[retractable]

My two kids each have a car that they helped restore in 1988. I store the cars over winter,they do not have extra storage. When I die I don't think they will want any of my cars because they have their own. I am quite sure they will sell they. My wife knows my cars and knows somewhat the values. Grandson has a 71 Jeepster that he likes.

 

[68BabyBlue]

My kids aren’t into cars at all. I figure that when I’m in my mid-late 70s, I’ll start selling them off, give the money to the kids, and keep just one or two. What’ll happen from there has yet to be determined.

I'm a little ahead of you, and started the process as part of my retirement plan, sold off the two '68 GTXs, one word of mouth, one through this site. Came out in good shape financially, wouldn't have gone as well if an heir was trying to liquidate them. My daughter was interested in Baby Blue for about a month after I got the car back in 2013. When she lost interest I started making plans to pass it outside the family. Offered it to friends first, at a steep discount from book, when they passed on it, I sold the car for book value to a guy who had been after it for years.

The current GTX posed a bit of a dilemma, with a combination of relatively high market value, and strong sentimental attachment. For any newbies who don't know the story, I test drove the "Demonstrator" when the car was new, and I was 16. Bought it 52 years later, in near concours condition. My wife and I recently came to an agreement on disposal. We are on the short list to enter an upscale old folks home. No inside storage there, she won't pay for outside storage. I am fortunate to have a close friend, 15 years younger, with ample storage, financial means, and mechanical skills. Only downside is he's a Ford guy, likes the car, but doesn't love it.

He's agreed to take the car when I leave my house, if I'm still alive. If I predecease my wife, she sells it to him for a price the three of us have agreed on. He then gives the grandson of the original owner right of first refusal at that price. If no deal happens, he sells it as he sees fit. If my wife predeceases me, he continues to keep the car while I'm alive, and I pass the title to him as a gift.

My will also directs my executor on a procedure to liquidate the car in the unlikely event of the simultaneous death of me and my wife. As I retired attorney, I've covered all bases.

 

[Ron H]

After a terrible experience I had 50+ years ago selling my GTO to a dirtbag who destroyed it, have always wanted to have some assurance my old car would go to a nice home. I’ve had it 30-years, restored it, dropped cash in it, dripped blood on it, yeah anyone who has knows, knows what the story is. My daughters don’t want it, I’ve mentioned its possible value to my wife so she has some idea. In a perfect arrangement it would be knowing the time to sell it finding the right buyer more than just the cash they have. What are the odds, as right now I’m perfectly able to take it out for a drive. In fact the guy I bought it from, was quite ill and he had bought it a few years before from the owner in CA.

Either way, I know I won’t give a rip, but being around yet, I still do…

 

[toolmanmike]

I'm a little ahead of you, and started the process as part of my retirement plan, sold off the two '68 GTXs, one word of mouth, one through this site. Came out in good shape financially, wouldn't have gone as well if an heir was trying to liquidate them. My daughter was interested in Baby Blue for about a month after I got the car back in 2013. When she lost interest I started making plans to pass it outside the family. Offered it to friends first, at a steep discount from book, when they passed on it, I sold the car for book value to a guy who had been after it for years.

The current GTX posed a bit of a dilemma, with a combination of relatively high market value, and strong sentimental attachment. For any newbies who don't know the story, I test drove the "Demonstrator" when the car was new, and I was 16. Bought it 52 years later, in near concours condition. My wife and I recently came to an agreement on disposal. We are on the short list to enter an upscale old folks home. No inside storage there, she won't pay for outside storage. I am fortunate to have a close friend, 15 years younger, with ample storage, financial means, and mechanical skills. Only downside is he's a Ford guy, likes the car, but doesn't love it.

He's agreed to take the car when I leave my house, if I'm still alive. If I predecease my wife, she sells it to him for a price the three of us have agreed on. He then gives the grandson of the original owner right of first refusal at that price. If no deal happens, he sells it as he sees fit. If my wife predeceases me, he continues to keep the car, and I pass the title to him as a gift.

My will also directs my executor on a procedure to liquidate the car in the unlikely event of the simultaneous death of me and my wife. As I retired attorney, I've covered all bases.

Yes, sounds like you have it covered.

 

[Belvedere408]

I've got a 10 yr old step son and an 8 yr old daughter. I'm hoping they get the hot rod bug enough to wanna drive my cars when I pass away. Not just look at them as a burden.

 

[Ron H]

I'm a little ahead of you, and started the process as part of my retirement plan, sold off the two '68 GTXs, one word of mouth, one through this site. Came out in good shape financially, wouldn't have gone as well if an heir was trying to liquidate them. My daughter was interested in Baby Blue for about a month after I got the car back in 2013. When she lost interest I started making plans to pass it outside the family. Offered it to friends first, at a steep discount from book, when they passed on it, I sold the car for book value to a guy who had been after it for years.

The current GTX posed a bit of a dilemma, with a combination of relatively high market value, and strong sentimental attachment. For any newbies who don't know the story, I test drove the "Demonstrator" when the car was new, and I was 16. Bought it 52 years later, in near concours condition. My wife and I recently came to an agreement on disposal. We are on the short list to enter an upscale old folks home. No inside storage there, she won't pay for outside storage. I am fortunate to have a close friend, 15 years younger, with ample storage, financial means, and mechanical skills. Only downside is he's a Ford guy, likes the car, but doesn't love it.

He's agreed to take the car when I leave my house, if I'm still alive. If I predecease my wife, she sells it to him for a price the three of us have agreed on. He then gives the grandson of the original owner right of first refusal at that price. If no deal happens, he sells it as he sees fit. If my wife predeceases me, he continues to keep the car, and I pass the title to him as a gift.

My will also directs my executor on a procedure to liquidate the car in the unlikely event of the simultaneous death of me and my wife. As I retired attorney, I've covered all bases.

I might give you a call for some advice; if it wouldn't be too expensive, lol!

 

[Rebelrouser]

I was at a car show the other day noticing how all the owners are getting older like me. Even most of the crowd was at least mid 30’s. I truly believe our classic and muscle cars are not going to be as important to the next few generations, much like the street rods have faded with interest and value today. Our kids didn’t grow up with these cars like we did. My kids have all moved away, and ya they like my Charger but none of them have really shown a great interest in it. So what do I do with the car once I die? Easy answer is sell it, but to who and how do I explain it to my kids? Or should I plan to sell it once I get older and can’t get around as easy, take the burden off the kids. What are your plans with your car(s)?

I am approaching 70 years and I fixed up cars with both my kids when they were in high school, my son's was a 340 Duster he even took it to the track and raced with me several times. He sold the car when going to college. My Daughter fixed up a 1967 coronet and she still has it. I have two cars in progress, a 65 Coronet convertible, and a 34 dodge Coupe race car, hoping to live long enough to get them done. So, I have a nice Supercharged 69 Cuda, 2010 challenger, 1998 Dakota convertible. Both my kids still like cars, but they have basically no garage space, my daughter rents a storage unit for the coronet. My son keeps giving me hints that he wants the 65, and keeps asking when will I get it done, in a nice way. My daughter if it was up to her would try and keep everything, which would cause problems. The other issue is the ton of equipment in the shop, engine dyno, flow bench etc. So, do I just draw a line in the sand and have an auction? Give directions for everything to be sold and they just split the money? I have seen family's torn apart fighting over a little money left after a death, would never want that.
And this is under the knowledge that I have bladder cancer, which the tumor has been removed, and I have been cancer free since March of this year, but you never know.

 

[Pops1967GTX]

I have 3 kids and only my daughter is into cars. But Who will be able to do maintenance and repairs ?. I have already sold my 57 Corvette.
I believe they will sell my GTX.

 

[68BabyBlue]

Yes, sounds like you have it covered.

My attorney agrees. Her high priced advice is to dump as much "stuff" as you can while still alive. Most of her clients don't, and their estates pay relatively high costs to her firm to help clean up the mess.

 

[Rusty knuckles]

If my kids or possible future grandkids or nephews dont want my stuff they can auction it. I've always thought it might be neat to make a kids dream come true and gift them something they were truly interested and passionate about too.

 

[XS22J8R]

My dad was a hard core hobbyist and a bit of a hoarder. He was a prominent gun collector and also a passionate Ham radio enthusiast.
Even though he was disorganized, he did document things pretty well as to what to do with the gun collection. He kept a fairly detailed inventory list of his collection with estimated values. He specified an auction house that he trusted, and said to avoid one here in Illinois as he thought them unethical. The auction house would only handle higher end items, so he specified a dealer who the other guns would be consigned to for sale. And a guy in Ohio who dealt in accessories, like books and militaria and accessories, who to contact about those items. He also had a trusted fellow collector he trusted to contact to help sort things out, and to give right of first refusal to purchase any of my dads guns he wanted.
My dad was going strong but got diagnosed with cancer shortly after his 83rd birthday, and was gone 3 months later. He had no energy to deal with disposing of his stuff when sick.
But the process with the gun collection went smoothly after he passed. His trusted friend and I spent a weekend going through everything, he put a number aside he wanted and agreed to the values my dad had estimated on his inventory list, and when he was getting ready to head home, I saw him write my mom a check for over a half mil for the ones he wanted!
The rest went to the auction and the consignment dealer, a couple to me. Really the only hiccup I recall was he hadn't given my mom the combo to his gun safe, and had told her it was in a location she could easily find. Well we couldn't! We had to call out a locksmith to get into the safe! We found the combo months later while going through his papers.
The ham stuff, he had a lot of friends who shared his passion and they helped with that stuff, but it was more of a pain. He literally had storage units largely full of old tubes and cables and broken radios and such. Being a collector, he had a lot of vintage radios and telegraph keys, some of the keys were valuable. I don't recall what we did to sell those.
A group of his ham friends came out and took down his 2 ham radio antenna towers. One they took to a ham guys house who needed it, to install as sort of a Amish barn raising type deal. The other smaller one wasn't worth much, we left it by the curb, and shortly afterwards a scrapper in a beat up pickup happened by and was excited to find a horde of scrap metal to take and sell!
We still had a quite a chore to get rid of alot of his other junk. At one point we even had a dumpster delivered and my mom hired high school kids to help clean out the attic.
I know this is a little different than what to do with cars, but still might give some ideas of how one should help their family know what to do with their stuff when they pass.

 

[YY1]

I've got a similar deal with a Mopar buddy I trust.

He can help with disposal (if alive) and get anything he wants cheap.

 

[themechanic]

If I were able, I would sell my cars, buy an RV and travel with the kids.

 

[terrywalker]

I turn 73 next month and have been thinking about this also. I have 3 grandkids that are interested in my cars. I gave my one grandson a 74 Charger Rallye when he graduated from high school in June 2024. He helped me alot with that car. He does oil changes on our everyday use vehicles when needed. He helps me when asked. The other two want to help but live 600 miles away. The 71 Challenger convertible I've had for 53 years now is the tough one to part with. I've been thinking about it. It would probably sell the quickest. A tough decision right now. I have another 74 Charger and a 72 Challenger the other grandkids want. I need to finish those two cars. I'm working on the 72 currently .
Terry W.

 

[Dennis H]

When carried out, the Coronet will be in the driveway. The hell with the kids. Nobody cares. It’s all liquid cash for whoever. HC goes to a friend if he outlives me. Only regret about assets is that a substantial amount of it came from my Parents who worked hard to earn it. Hate to see it squandered. It will be. No legacy here. Meantime, spend down. Not as easy as it seams.

 

[themechanic]

I trust my daughter's judgement. She can do whatever she wants with my worldly goods.

 

[RJ Squirrel]

If I could afford it, I would hire Elon Musk to shoot my Roadrunner into space with me sitting in it.

 

[#41]

My plan is to slowly trim down the fleet to zero before I die, so there is no after-death plan. If I go suddenly, then someone else will have to come up with a plan.

 

[RT68440]

I'm also on the other end of this spectrum. I have two uncles, one is my dad's brother and the other is my mom's brother. Mom's brother has never been married and has no kids. My dad's brother was married but they never had kids. It's just my sister and I as far as grand kids and nieces and nephews go. My dad's brother has a '76 Corvette that he's had since 1981. I helped him restore a few years ago after my aunt passed away and a 2003 Corvette with 4K miles. He told me that those are going to me. My mom's brother has a 1973 Mustang Mach 1 that is just finishing up a full restoration that he's had since 1980 and he also has a 1969 Shelby GT 350 that's all restored that he's had since 1998. My grandfather has a 1978 Grand Marquis with 29,000 original miles that my parents rode in on their wedding day in 1980. All of these cars are coming my way one day. It's a tough situation because almost all of these cars have been around since before I was born and I have some sort of sentimental attachment to them, however, I'm not in love with the cars themselves, more with the memories of them. I don't have room to keep all of them plus my cars but it will be hard to get rid of the cars that played a pretty big role in me being a car guy...

 

[OneWheelPeel]

All of your responses reminded me that one of my cars, the 77 Vette, is some other guy's "I'm close to death, time to downsize" car. The guy I bought it from was quite elderly and he was pretty happy to know I would get it back on the road and take care of it. I don't think any one in my family wants it, the one possible person can't even handled maintenance on their daily driver so I think that's a no. I feel like while I'm kind of like whatever with my stuff I owe it to that guy and his wife to sell the vette to a good home.
I'm only in my mid 50s, so hopefully no rush.
I also have a small retro stereo collection and retro computer stuff including a lot of Commodore 64 stuff, its a toss up if the right person will get that or it ends up in a dumpster, but again I'll just say "oh well"