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  1. #21
    lilmsmaggie's Avatar
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    Depending on where you live and the laws governing estates will probably determine whether tese items are included. Since they are not specifically mentioned in a will or estate plan, I'd suggest getting your attorney's advice. Families tend to squabble in terms of dividing assets not specifically addressed in a will or some other legal document - but not always. Obviously, the cost of CLA'ng equipment could be recovered as part of an estate sale price, However; on a personal note, I would not incur the cost of CLA'ng any equipment, especially if the cost become is borne by the estate prior to any sale. And no single individual family member should incur those costs unless there is consensus and agreement by all. Otherwise, it becomes a headache. Any assest would most likely be appraised at market value.

    Think of it like a kitchen remodel, or a paint job on a piece of real estate: Would you necessarily recover the costs of the remodel, or not?

  2. #22
    lxdude's Avatar
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    Quote Originally Posted by railwayman3 View Post

    I was once the professional executor of an estate where the gentleman had left a very nice top-end Bolex cine camera and projector. I expressed my interest to his son and daughter...they said "have them if you'd like them". I insisted, however, on buying then from the estate at a valuation provided by a local photo dealer....solely because I had to be seen as independent and professional. Not worth doing things any other way.
    Right on.
    I do use a digital device in my photographic pursuits when necessary.
    When someone rags on me for using film, I use a middle digit, upraised.

  3. #23
    MattKing's Avatar
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    Quote Originally Posted by Steve Smith View Post
    If there are only a few beneficiaries to the will and they all agree to one person having a particular item then there cannot be any problem (unless of course if the magnitude of the estate is such that it would need death duty tax paid on it).

    Steve.
    Depends on where you are. In my jurisdiction there is a tax due on everything, but it is only 1.4%, so for camera equipment it probably is relatively unimportant.

    Where the valuation does become important is when you run into the post-administration "squabbles" later - "what he got was worth more than what I received".

    From earlier comments, it appears that the "Steves" here don't really appreciate us estate lawyers. I feel so hurt .

    I'd suggest that someone dealing with these sort of issues might just appreciate some of our advice, especially considering the sorts of things we have seen go wrong.
    Matt

    “Photography is a complex and fluid medium, and its many factors are not applied in simple sequence. Rather, the process may be likened to the art of the juggler in keeping many balls in the air at one time!”

    Ansel Adams, from the introduction to The Negative - The New Ansel Adams Photography Series / Book 2

  4. #24

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    Quote Originally Posted by MattKing View Post
    Where the valuation does become important is when you run into the post-administration "squabbles" later - "what he got was worth more than what I received".

    From earlier comments, it appears that the "Steves" here don't really appreciate us estate lawyers. I feel so hurt .

    I'd suggest that someone dealing with these sort of issues might just appreciate some of our advice, especially considering the sorts of things we have seen go wrong.
    Very true, as a professional myself I've spend many hours and days sorting out the messes which people who "thought it would be alright" have got themselves into,when a few questions and advice would have avoided problems and heartache.

    And, despite what some cynics might believe about lawyers and other professionals, many are happy to provide simple general advice at little or no cost, as a matter of goodwill. If someone chooses to ignore this, they can hardly complain when they later get a big bill for sorting out the problems which they have created.
    Last edited by railwayman3; 12-21-2010 at 04:04 AM. Click to view previous post history.

  5. #25

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    Well, you have to work out the law and all that, but personal i think its a piety when a collection is broken of or sold. I really dont like when the relative just put up all the belonging of a person and just sell them of to the highest price. I would like to suggest that you try to keep the collection, the person/relative build it for a reason and I am sure that he/she would love to see it keep and used as he/she intended.

    cheers

  6. #26
    Steve Smith's Avatar
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    Quote Originally Posted by MattKing View Post
    Depends on where you are. In my jurisdiction there is a tax due on everything, but it is only 1.4%, so for camera equipment it probably is relatively unimportant.
    In the UK tax is only payable if the estate value exceeds a threshold of £325,000 and a 40% tax is then paid only on the value above that amount. According to Wikipedia 94% of estates escape from paying inheritance tax.

    Here it isn't really the sort of thing we get lawyers involved in. We usually have one or two executors of the will who are normally family members. Once they have been granted probate they will deal with the sharing out of the estate in accordance with the will (if there is one). Some people do this via a lawyer but many do not as it isn't really necessary.

    Quote Originally Posted by MattKing View Post
    From earlier comments, it appears that the "Steves" here don't really appreciate us estate lawyers. I feel so hurt
    I'm certainly not 'anti lawyer'. In fact, I wish I had studied law myself as it is a subject which interests me quite a lot - especially contract law. Unfortunately I gained this interest a bit too late in life to go on and study it.

    I suppose some of my apparent 'don't get a lawyer involved' attitude comes from the number of posts I see (usually on PhotoNet) about copyright infringement where the stock answer seems to be "you need to contact a lawyer" but usually in these cases any lawyer's fees would far exceed any gains to be made from pursuing the matter in this way. Copyright law isn't that complex and anyone with a bit of common sense should be able to work out the facts and a suitable method to prove ownership.

    Sometimes when viewing the US from over here it seems that Americans consult either their lawyers or their psychiatrists before they do anything!


    Steve.
    Last edited by Steve Smith; 12-21-2010 at 04:28 AM. Click to view previous post history.
    "People who say things won't work are a dime a dozen. People who figure out how to make things work are worth a fortune" - Dave Rat.

  7. #27
    IloveTLRs's Avatar
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    Quote Originally Posted by schottmark View Post
    What would you do?
    Since I'm an avid Leica user as well as a sentimental fool, I would have it serviced and promptly use it all.
    Those who know, shoot film

  8. #28

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    Quote Originally Posted by MattKing View Post
    From earlier comments, it appears that the "Steves" here don't really appreciate us estate lawyers. I feel so hurt .
    No need to feel bad - in my book the legal profession is right up there alongside estate agents, bank managers and dentists!

    Steve R

  9. #29
    MattKing's Avatar
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    You do understand I hope that the "I feel so hurt" comment was said with tongue fully in cheek.

    I should mention that I am on hiatus from active practice, so it would be more accurate to describe myself as a former estate law lawyer, but I still am fairly fresh.

    If you delve into the rules about this estate law stuff, most likely you will find that it is actually very old, and can be unbelievably complex in areas that you wouldn't expect. It also varies a lot depending on which jurisdiction's laws apply. In Canada, where I am, there is a wonderful and weird conglomeration of old English law, modern Canadian law and (to a small extent) law borrowed from other places around the world (our land registry system, for instance, was borrowed from New Zealand and a system respecting ships). Each of our ten provinces and three territories has different laws - twelve of them are quite similar, while the 13th is Quebec, which is rooted in an import from France.

    As I said, informed local professional advice is a very good idea.

    EDIT: One other point - if you are in a jurisdiction like mine, you need to obtain valuation information before you apply for Letters Probate, because the application materials require an extensive inventory of what is known to be in the estate, along with accompanying values. In other jurisdictions, as I understand it, the procedure is considerably different. So depending where the OP is, the need for valuation may come earlier, or later.
    Matt

    “Photography is a complex and fluid medium, and its many factors are not applied in simple sequence. Rather, the process may be likened to the art of the juggler in keeping many balls in the air at one time!”

    Ansel Adams, from the introduction to The Negative - The New Ansel Adams Photography Series / Book 2

  10. #30

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    Quote Originally Posted by Steve Roberts View Post
    No need to feel bad - in my book the legal profession is right up there alongside estate agents, bank managers and dentists!

    Steve R
    I wonder if your profession is a teacher? Just curious.

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