SOT: Contingency plan? Options

[smontanaro]

Sorry to inject a rather morbid topic into the forum, however...

After much procrastination my wife and I are getting set to have wills drawn up. One thing that occurs to me is that while I would obviously leave my 914 to her, she would have no interest in it and would almost certainly want to sell it in the event of my (untimely) demise. I'd like to be as prepared as possible for that contingency to make things as easy for her as I can. One thing I need to do is make sure she's on the title so she doesn't need to wait for my will to be probated to take ownership of the car. What other things should I do? What kind of instructions should I leave for her to make it as easy as possible to sell the car without getting ripped off? Should I contact somebody local who can help her sell it? (I live in the Chicago area, so Brad Mayeur comes to mind.)

Thanks,

Skip

[JeffBowlsby]

This is an excellent topic and one we should all consider important given the wacky obsession we have with these odd little cars, if we care about our surviving families. 914s are more and more a special interest car and not likely to be something your surviving heirs will know how to liquidate, much less want to deal with in your absence, and get a fair deal. There is a financial interest too, and it would be a shame for them to give these cars away for pennies on the dollar out of expediency.

Depending on your state laws, that surviving spouse should always be on the title as owner for just that reason, so they can sell it immediately or give to anyone they want expeditiously.

I have always thought it would be a good idea if at all possible, to pre-arrange with a local 914 buddy, local to you, to jump in and help when needed...a plan 'B'. Plan A is that you will be around to deal with it, but its comforting to know that a trusted local friend would come to the aid of your surviving family if needed. I would certainly agree to help anyone local to me if I could under that situation.

Find a local 914-friend and get their verbal agreement to manage anything 914-related in the event of your untimely passing. Sell to car, sell the parts etc. All that would be needed would be to include a signed note in your will with the 914-friends contact info to get the ball rolling.

I am not a lawyer so if this sounds like legal advice, its not...check your local laws for applicability.