The television show 'Strange Inheritances' highlights the unusual inheritances that some families have received and how those families have dealt with them. A recent episode featured a family in Iowa that inherited 100 tractors and contains an important lesson for other families.
Dave Hawkins loved tractors. The Iowa farmer collected more than 100 of them during his lifetime. Many of the tractors were vintage tractors that he restored. Every July 4th, he would open up his collection for public viewing.
When he passed away, the tractors became part of his estate and his family inherited them.
What happened next was featured in the TV Show Strange Inheritances as reported by Iowa Farmer Today in an article titled "TV show explores Iowa family inheritance."
The show highlighted that the family wanted to dispose of the tractors as Hawkins would have wanted. Some of the tractors were sold, but others were kept in the family collection.
The family was helped with this task by a list that Hawkins prepared. The list detailed which of the tractors meant the most to him.
Everyone with a collection of any kind can learn from this.
Prepare a list of what is in your collection. Which items are the most important and which items should be kept in the family? While this list may not need to be a part of your formal estate plan, make sure it does not conflict with your estate plan and make sure your Cincinnati estate planning attorney has this list.
If you have any questions about any of the information contained in this blog, see the estate planning website of Cincinnati attorney, David H. Lefton, Barron Peck Bennie & Schlemmer, 3074 Madison Road, Cincinnati, Ohio 45209, or contact him at 513-399-PLAN (7526) or by email at firstname.lastname@example.org.
Reference:Iowa Farmer Today (March 27, 2015) "TV show explores Iowa family inheritance."