What should my heirs do to dispose of my vinyl and CDs?


I am typing up a document with all details of my system components and cables with approximate values.  No one else in the family knows anything about high end audio.  I suggested they sell the gear at US Audiomart.  What should I suggest they do with the vinyl and digital discs in my reasonably large collection?  I want them to get to others who can enjoy them when I no longer can. Any suggestions would be much appreciated.

128x128hifiman5

I'm an audiophile and retired CFP(r), financial advisor.  I worked in an office that was mainly a trust and estate law.  Saw way too many families fight over inheritances, especially valuable collections/items.

My suggestion is to simplify as much as possible.  Being an executor of a will or successor trustee of a trust is a lot of work (and aggravation).  Give away or sell stuff now and give the money to your beneficiaries, family, friends, charities.  The benefit to you?  Seeing the joy it brings to others (See the book Happy Money).  

Idea.  Write your instructions out yourself and have it notarize.  

Another idea.  If you have teenage grandchildren who work part-time/summers.  Fund a Roth IRA for them.  

Years ago my daughters told me that they did not want my collection of Grateful Dead bootlegs.  And my wife won't touch my stereo.

Finally, talk to a lawyer with lots of experience administering estates.  It is worth the money.

If you're in the SF Bay Area, you could contact the San Francisco Audiophile Foundation.  I don't know if they're actively soliciting donations, but they are a 501c3 organization, so it would be deductible.  I haven't been to a meeting in a while, but they always had boxes of donated CDs & LPs for sale.  I don't recall any w/o the original packaging, though.  They may also accept equipment.

At least you'd know that the first people to get a crack at them would be card-carrying audiophiles!

Also, with respect to the public library, I think they need special licensing from the publishers, and can't use items that were privately purchased.  However, there may be an affiliated "friends of the library"  group that can accept donations and holds periodic sales locally.

@ross6860 -- Amen on the fishing gear.  One son will go with me if I ask, the other son couldn't catch a cold.  The son that will fish only knows how to use a spinning reel....kind of.  I've left my wife written instructions on what to do with my beloved Lews Speed Spool baitcasting reels (many from the 1970's), Falcon Custom rods, antique lures (many MY grandfather used), and boats.

 

As far as the high end stereo gear, vinyl, and CD's, expect what I see with the valuable riverfront farm land I grew up around in East Tennessee and Southwest Virginia -- your body will barely be in the ground before your children are selling it.  With an acre selling for $20,000 or more, a family farm with 100 to 200 acres on a river is a goldmine today.  I see it every year around my farm -- doctors wanting to live in "the country" buying 2 or 3 acres and building million dollar plus estates with river views.  Real Estate developers descend on the heirs even before the "old man or Ma" die. 

 

All your heirs care about is cash.  Sad, but true.

Well i sold off 900 albums 60,70,80,Rock n Pop all in very good plus to neve played i was offered 50 cents an album .After a negotiations i got 1,500 for the lot.His worker asked me if he could buy some of my album's for 5 bucks a piece ,i should of know...that was 9 years ago.The albums i sold go for like 25 to 30 bucks at least now....LOL....since then i got into albums again and have over 1,000 all in mint or vg plus....bought lots from other guys looking to sell out .Bought a lot of mint 70,80s Rock 300 albums for $150 .She said there were my Dads help yourself....lol...CDs are not DEAD...and they sell....i buy lots ,go to the thrifts and get them for under 2 bucks each....good music i only buy un scratched disc's.