Author Topic: Wacky Packages Estate Planning  (Read 725 times)

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Offline Corndog

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Wacky Packages Estate Planning
« on: December 30, 2024, 04:48:11 PM »
This forum is such a great resource for everything to do with Wacky Packages. I was wondering if the topic of Estate Planning has ever been disgusted about what can your family do with your Wacky Packages collection....after we leave this world.  :sad:

In my family I am honestly the only one who has the passion of collecting Wacky Packages. With that, I am the only in the family that has any knowledge about what is and what is not worth anything in regards to Wacky Packages. While doing my estate planning I am including a chapter on what to do with my sizable collection.

Of course I will mention this forum, because there is just too much to list on sites like Ebay. Because I know none of my family will want to go through all the trouble dealing with that mess. Therefore, I was wondering what fellow members on this forum have planned for the future of your collection?

I would rather have my collection go to somewhere to be loved, rather than find its way to the landfill.

Offline freetoes

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Re: Wacky Packages Estate Planning
« Reply #1 on: December 30, 2024, 05:44:08 PM »
There was a thread discussing this topic a few years ago. Unfortunately, we have lost a few fellow Wacky collectors over the years.

I can tell you that hobby collections come under the heading of personal property, and researching items you know nothing about for the purpose of administering an estate is a tedious process. Please do your heirs/executors a favor and educate them.

https://www.wackypackagesforum.com/index.php?topic=5710.0

Offline Corndog

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Re: Wacky Packages Estate Planning
« Reply #2 on: December 30, 2024, 07:08:32 PM »
Thanks for the info....I tried searching, but didn't find anything. This helps a lot.

I do plan on updating my master list to help my family. Currently re-organizing my Wacky stash.

Offline JailOJohn

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Re: Wacky Packages Estate Planning
« Reply #3 on: January 01, 2025, 05:03:40 PM »
There was an excellent article in the Overstreet Comic Price Guide several years back by an attorney/collector. Some of the tips apply, but wackys are far more obscure and there are not wacky shops, although a baseball card/comic shop might sell for your heirs on consignment. The best thing i can suggest is make a list of your collection and there was a homemade price guide a few years back, made by a forum member listing approx. values for OS titles and rares. Comics or baseball cards are far more common, and have more avenues to sell collections. E-Bay, Greg’s site, this forum or the Philly show are the main venues. It is a good time to remember the cardinal rule of collect what you like and can afford, and dont collect Wackys with the idea of making money. It is entirely possible that in 25-30 years when we all die, there will be NO market for Wackys….

Offline Soremel

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Re: Wacky Packages Estate Planning
« Reply #4 on: January 02, 2025, 07:02:17 AM »
While it's not the most "professional" way to handle things, this is the approach that I took regarding the "What to do with my junk when I'm gone" issue: A few years ago, I started traveling a lot. In the early days, I just informed my daughter that I would be away for a while, and gave her the numbers and addresses of the places that I would be as contact info. In the event of my demise, I instructed her to go to a certain binder to obtain her life insurance beneficiary documents, as well as the keys to various safety deposit boxes. More recently, I added another binder next to the life insurance binder that contains a whole bunch of info regarding my collections, primarily the Wacky Packages. In the front of this binder is a page consisting of the names and numbers of individuals who may be interested in buying the collection as a whole. In the event that there were no "bulk" takers, the rest of the binder has photos of what each series & item in the collection looks like, with a ball-park figure as to what it would go for, in the event that she decided to piece-out the collection on eBay, or through private deals. Once I'm gone, I obviously will have no need for my Wackys, but I would like to think that they would end up in a collector's hands who enjoys them. Oh, and I would like to think that my daughter would be able to make some profit from something that she has no personal interest in!

Offline JailOJohn

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  • Sticking Wackys on Furniture since 1973...
Re: Wacky Packages Estate Planning
« Reply #5 on: January 02, 2025, 07:49:55 AM »
You say you are “not professional,” but it sounds like a perfectly reasonable, rational procedure, and your level of preparation is more advanced than most. Having handled several family members’ estates and property in recent years, i can assure you most people dont give it that level of thought. Finding a good home is a more comforting thought than making sure our kids turn a bit of  profit. Wackys are so small and delicate, it would  be easy for an uncaring survivor to pitch them…

Offline Plastered Peanut

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Re: Wacky Packages Estate Planning
« Reply #6 on: January 02, 2025, 08:39:13 PM »
While it's not the most "professional" way to handle things, this is the approach that I took regarding the "What to do with my junk when I'm gone" issue: A few years ago, I started traveling a lot. In the early days, I just informed my daughter that I would be away for a while, and gave her the numbers and addresses of the places that I would be as contact info. In the event of my demise, I instructed her to go to a certain binder to obtain her life insurance beneficiary documents, as well as the keys to various safety deposit boxes. More recently, I added another binder next to the life insurance binder that contains a whole bunch of info regarding my collections, primarily the Wacky Packages. In the front of this binder is a page consisting of the names and numbers of individuals who may be interested in buying the collection as a whole. In the event that there were no "bulk" takers, the rest of the binder has photos of what each series & item in the collection looks like, with a ball-park figure as to what it would go for, in the event that she decided to piece-out the collection on eBay, or through private deals. Once I'm gone, I obviously will have no need for my Wackys, but I would like to think that they would end up in a collector's hands who enjoys them. Oh, and I would like to think that my daughter would be able to make some profit from something that she has no personal interest in!

I couldn't have said it better myself!   Substitute "daughter" with "sister-in-law".     ;)
Send me your borderless wackys!