Asked at the AGM...what will happen to your Jowett(s) when you die.
This created some lively discussion...we encourage keeping it in the family but some get donated to museums and some members set up a trust to house them in a museum. Many are not willed and so the lawyers hurriedly dispose of them, others are left in barns and garages to be discovered 30 years after they last were used and are redeployed by friends and relatives. Who knows what happens to the rest?
A morbid question?
-
- websitedesign
- Posts: 3820
- Joined: Wed Feb 08, 2006 11:22 am
- Your interest in the forum: Jup NKD 258, the most widely travelled , raced and rallied Jowett.
- Given Name: Keith
- Contact:
A morbid question?
skype = keithaclements ;
-
- Posts: 331
- Joined: Fri Nov 25, 2011 2:49 pm
- Your interest in the forum: Owner of a long two in Cambridge
- Given Name: Barry
- Contact:
Re: A morbid question?
I'd like to think that the cars are now old enough that they won't be casually scraped, as has happened in the past. That said, my father hates motorbikes and nothing I can say or do wil convince him my glorious Moto Guzzi is anything but worthless, to the point where he has brought round 'scrap motorcycles collected' adverts from the local paper, thinking he's helping. I notice a restored one recently sold on ebay for thick end of 10 grand. If the worst happened, the bike would be scrapped along with the contents of the workshop for sure, apart from the fact I have made a will and left it to a friend who likes Italian bikes. I heard a radio article a few weeks ago saying 40% of people still die without a will.
For me, I'm more concerned that while hopefully no complete cars will be lost these days, the vast amount of spares people have stashed away across the country will be. A lot of people just wouldn't know what they were and would have no idea of what to do with them. Stalled projects, stripped cars etc, could also be disposed of if people don't recongnise their value, even if it's not necessarily monetary. I don't have any clever ideas to help with this situation I'm afraid!
For me, I'm more concerned that while hopefully no complete cars will be lost these days, the vast amount of spares people have stashed away across the country will be. A lot of people just wouldn't know what they were and would have no idea of what to do with them. Stalled projects, stripped cars etc, could also be disposed of if people don't recongnise their value, even if it's not necessarily monetary. I don't have any clever ideas to help with this situation I'm afraid!
-
- websitedesign
- Posts: 3820
- Joined: Wed Feb 08, 2006 11:22 am
- Your interest in the forum: Jup NKD 258, the most widely travelled , raced and rallied Jowett.
- Given Name: Keith
- Contact:
Re: A morbid question?
The issue of what to do with the Jowett and all it spares may not just arise when you die but probably well before that when you become too infirm to enjoy a Jowett. Without family or friends that would like to take ownership the question arises as to what to do. The club has on many occasions eased that problem by assisting in finding a home for the cars and spares.
Another possibility which would provide more direction as to the fate of the Jowett stuff would be to set up a trust for its continued maintenance to which a Jowett owner could will or donate. Those with some 'surplus' in their estate might also consider giving to a charity as this will save on Inheritance tax and on Income tax during their lifetime. Do we have an opportunity here to further the continuation of Jowetts by setting up a trust and charity to which individuals could donate not only cash but cars, spares and memorabilia?
As a Limited Company any such donation would be unfavourably taxed if given to the club (I think). But this would change if a Charitable Trust was set up.
Such a trust could even have premises and other assets to benefit Jowett owners. It might work in conjunction with an established museum (like the Ray Win trust in New Zealand that displays Ray's many Jowetts). It might work in conjunction with an association of other clubs or individuals that help maintain Classic Cars (like that in Perth, WA or in Denmark and Scotland).
Worth pursuing?
Another possibility which would provide more direction as to the fate of the Jowett stuff would be to set up a trust for its continued maintenance to which a Jowett owner could will or donate. Those with some 'surplus' in their estate might also consider giving to a charity as this will save on Inheritance tax and on Income tax during their lifetime. Do we have an opportunity here to further the continuation of Jowetts by setting up a trust and charity to which individuals could donate not only cash but cars, spares and memorabilia?
As a Limited Company any such donation would be unfavourably taxed if given to the club (I think). But this would change if a Charitable Trust was set up.
Such a trust could even have premises and other assets to benefit Jowett owners. It might work in conjunction with an established museum (like the Ray Win trust in New Zealand that displays Ray's many Jowetts). It might work in conjunction with an association of other clubs or individuals that help maintain Classic Cars (like that in Perth, WA or in Denmark and Scotland).
Worth pursuing?
skype = keithaclements ;
-
- Posts: 489
- Joined: Thu Apr 06, 2006 10:14 am
- Your interest in the forum: It is a good vehicle for getting Jowett information to others.
- Given Name: Michael
- Location: Melbourne, AUSTRALIA.
- Contact:
Re: A morbid question?
Good Question indeed,
My stock reply is that my Jupiter will be parked on my tombstone, with the keys and security fob lodged in my coffin!
Mike A.
My stock reply is that my Jupiter will be parked on my tombstone, with the keys and security fob lodged in my coffin!
Mike A.
E0 SA 42R; Rover 75
-
- Posts: 547
- Joined: Sat Mar 04, 2006 7:32 am
- Your interest in the forum: Like to look at pictures
- Given Name: Scott
- Location: United States
- Contact:
Re: A morbid question?
Sadly, I have just spent Nov through Jan disposing of a friend's car collection after he died. The family had no interest in dealing with it and only after I emailed pictures of the sheer volume did the eldest adult child realize the complexity of the parts stuffed into 150 sq. meters. Larry ignored his poor health issues, as well as procrastinated on even organizing his piles of Porsche, Jaguar, MGTC, RIley, Healey and other bits. In spite of a being an attorney, he had no will and no end of life plan.
I have drawn several conclusions from my experience.
1) Clearly indicate on all spares what it is, the condition and what car it fits. (This was a great test for my overall car knowledge!)
2) Let someone know where titles and important documents are kept.
3) If you haven't used it in 30 years, think about selling it to someone who might need it. Or toss it in the bin. Did Larry really need 27 used inner tube valve caps? (Not even the tip of the iceberg.)
4) Dying with your hoard of toys only makes life harder for your survivors, particularly if they are not "car guys". Okay, I hear you, but think about it.
And there's this option:
5) Die before your friends so you don't get the call to clean out their junk.
I have drawn several conclusions from my experience.
1) Clearly indicate on all spares what it is, the condition and what car it fits. (This was a great test for my overall car knowledge!)
2) Let someone know where titles and important documents are kept.
3) If you haven't used it in 30 years, think about selling it to someone who might need it. Or toss it in the bin. Did Larry really need 27 used inner tube valve caps? (Not even the tip of the iceberg.)
4) Dying with your hoard of toys only makes life harder for your survivors, particularly if they are not "car guys". Okay, I hear you, but think about it.
And there's this option:
5) Die before your friends so you don't get the call to clean out their junk.
Who is online
Users browsing this forum: No registered users and 14 guests