Tools: Anyone relate to this?

Dick2

Well-known Member
Heard a fella say: "My biggest fear is that when I die, my wife will sell all my tools for what she thinks I paid for them."

Sounds like he has been less than honest with his wife about how much he spent on tools.
 
Wouldn't do much good to tell your wife how much a tool is worth. The female mind does not have a value of tools like the male mind does. Sharks will be swimming around after I pass away looking for the bargains telling the widow they are trying help her. She will only be looking at the cash she can get today. Pennies on the dollar. I have been selling some things off that I most likely will not need anymore or putting the kids names on them if they want it after I'm done with it. Have heard about the guy that dies with the most tools or toy thing and I think the real winner is the one that sells off his last tool or toy just before he passes away. LOL
 
Tools not so much.

Guns? I shudder to think. If I time it right, I'll sell or give away most of them before I assume room temperature.

We wouldn't have to prevaricate if they didn't get so wound up about it.
 
Mine pretty well knows the value of them. If anything she will try to get a little more than they are actually worth.
 
When I die I don't think I will care about tools anymore. I will be focused on seeing my departed family members and my dog who passed away a few years ago.
 
The only thing that comes to mind, in my case, with things in the garage, tools and such, power equipment and related things, someone will get some pretty good stuff when I go ! I'm thinking since its likely I'll be a loner, at that time, I had best leave some instruction for "the sale" it also, would be neat is to put a brief description on things, honest value, history of where it came from, who had it, what it did, or any concise combination of the previous. I have a mental note of most things, bought 2nd hand but old school quality, each has a very short story, a significant use or I would not have it, this would make the sale something to remember, and that would be pretty cool, "hey remember so and so's sale/?" I think any good sale people remember, your legacy will not fade so quick. Its nice to pass things on to appreciative siblings, but if likely that is not possible, might have to get creative LOL !
 
i agree with dusty on the fact that the sharks will be feeding..best to sit down and itemize a list of equipment and stuff..perhaps a video of the items and price approx worth..we know the market values certainly fluxuate lots...and if you can get rid of it before you pass then its another example of your love for your wife and family as they dont have to do it,,at 49 i have already started doing this
 
My wife says that I should leave all of my tools
to our grandsons, ages 15 and 18.
But !!!!!!! they wouldn"t know what they were,
or how to use them...they are "loosers", like
their worthless Dad, couch potato"s who would pawn
them to buy video games. I"ll give everything to
Nephews who still fix their trucks and tractors!
 
You mention guns.....A buddy of mine has bought a few collections over the years. One of the most lucrative and shameful episodes is where my buddy was driving down a road and saw an older lady putting rifles in the trash can. (Yes at the road) and he stopped and said.....Ummm....What are you doing? The lady says, "well my husband died X number of years ago and I dont want these" He said, well.....I will give you $800 cash for all of them. 8 rifles total, he sold 1 rifle for $800, these were Winchesters/ bolt action .30-06 springfield, Semi-auto .22s.
All my stuff will go to my son when I am dead.
 
I read this and went on, then came back, left it again, now I'm back.

It made me think, a lot. I have been to a number of garage sales where it was obvious that someone had passed away and this was more of a liquidation sale to clear out the unwanted items. Most times the sellers don't know or don't care about the value. My concern is that my wife wouldn't get the fair price for her own use of the money. I have meters that are worth hundreds of dollars. I also have some that would make better door stops. I know she can't tell the difference. I also know if I started showing her now there would be the "are you holding back something I don't know about" look.

Bottom line, make sure special things have a place to go, or not. You won't have much say about it after the fact.
 
I have not decided what to do with my tools and equipment. But, quite a few years ago I took out a term life insurance policy so my wife will not have to worry. Secondly, I asked a friend if I pass away to take what he wants and auction off the rest.
The only problem I see with this is if I am the last one to die. Life can be unpredictable.
 
If they are "loosers" then all you need to teach 'em is tightening. They already have the loosening down pat.I would give 'em wrenches!
 
I'm going to give everything I have away before I die. The way I see it is why let my wife sell all my things, and then, spend the money on a young guy.
 
That is easy. Both my sons know what I have and what it is worth. They both work on cars, one son restores cars and motorcycles and the other hot rods modern iron and likes to make piles of sawdust. Both have expressed their desires and know what the other wants. They know the rules, any arguing and it goes into the sale pile.

Sometime within the next year or so I will have to go through a 80+ year collection of tools from an airline machinist. I will be the one going through it and will be parceling out stuff to my sons and brother. I know the value and know that it will be going to someone who will use them.

I figure I have another 20 years but you never know. Last Friday I stepped into a hole and fell back mashing my head against a concrete wall. I was sort of out of it for a couple of hours but I slowly came back around and now all seems OK.
 
Here's a simple test to determine whether you're really okay: Use the words "lose" and "loose" correctly in a couple of written sentences. Judging will be done by dr sportster.

Stan
 
I do a complete inventory on all my tools each year. The major items I also include pictures of. I do this for my shop insurance coverage. I also take that same list and put what I think the current value of each tool is. The first time I d this it took be a week of hard work. Now it only takes a few hours as I only have to deal with the additions and subtractions mostly.

This tool list and I also do an equipment list too are in the safety deposit box with our wills and policies.

This is just good business and family responsibility to have this information for whom every is going to have to deal with your estate when you die.

Does not have to be fancy. A legal pad with a list with what you feel is a current tool value.
 

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