NSX and estate planning (spoiler alert: we are mortal )

[RedWings]

Since we are all going to be dust someday, what are your plans for your NSX?

Been doing some advance planning with the wife and thought about this question tonight.

Who gets my car? Who SHOULD get my car? How do I ensure that it goes to a good owner?

 

[heySkippy]

I would like my wife to continue driving mine, but failing that she can sell it for whatever it'll bring. I be beyond caring.

 

[RSO 34]

Since I am part Pharoah I plan to be buried in mine.

 

[RYU]

Terracotta NSX for me

 

[sippy2]

Great thread. Something to think about...I have some collectable/rare(appreciated by a select few) items I fear would be fire sold at my demise. My NSX, my HIFI gear and a rare motorcycle. Need to think about a good home for all and designate in my will.

 

[sca037]

Funny that we've been also contemplating such things.

We do have a nephew that has volunteered to take our fun cars when we're done with them, though ;^D

Brian

 

[DocL]

One thing to remember is that if you don't have a will everything goes to probate and a judge will decide who gets what. I just set up a revocable trust and most of my valuable belongings are in it. My son gets my NSX, whether I'm dead or alive in 20 years.

 

[Bravo]

My son gets my garage stuff and vehicles. Wifey gets everything else.

 

[FF Drifter]

No one else was planning on dying in it? Go out with a bang?

 

[heySkippy]

One thing to remember is that if you don't have a will everything goes to probate and a judge will decide who gets what.

Why would a judge decide? If I die intestate, does not everything automatically go to my wife?

 

[BATMANs]

Keep the NSX, but sniff the driver seat often...

 

[warrenw]

My wife has strict instructions to sell it. She disagrees and says she will drive it. She sounds very confident on the out come. I should be concerned. (I never ask what those vitamins are she gives me every day.)

 

[BATMANs]

Lol.

 

[DreamPowered]

I am willing it to my 1st son. As he loves the car And already knows its ours.
Looking to find a nice E30 M3 for my lil son.

 

[RPM217]

One thing to remember is that if you don't have a will everything goes to probate and a judge will decide who gets what. I just set up a revocable trust and most of my valuable belongings are in it. My son gets my NSX, whether I'm dead or alive in 20 years.

Key word there Doc is "revocable", he might think that he gets it "dead or alive", you can always revoke and name me!!!!

 

[mugen_kid]

I always tell my family to just bury me in it

 

[DocL]

Key word there Doc is "revocable", he might think that he gets it "dead or alive", you can always revoke and name me!!!!

You got it Roger. Now you just have to list my son on your will for one of your toys.

 

[nsxtasy]

No one else was planning on dying in it? Go out with a bang?

Dying in your car does not have anything to do with what happens to your car after you're dead. Unless you die as the result of a crash that totals the car, I guess.

Since we are all going to be dust someday, what are your plans for your NSX?

Been doing some advance planning with the wife and thought about this question tonight.

Who gets my car? Who SHOULD get my car? How do I ensure that it goes to a good owner?

This goes back to the issue of whether an owner cares who owns the car after we do (regardless of whether we're dead or just selling it). Personally, I never cared whether my car was bought by an older gent who intended to keep it as a well-kept pristine garage queen, or a teenager who wanted to show off for his high-school friends. If they're paying me enough money for it, they can do what they want with it. Some people may feel otherwise and want their car to be cared for after they're gone, but I don't have any such attachment to mine. It's just an object, one with intrinsic market value, not something that I have feelings for.

However, I think you need to consider all kinds of factors, including (but not limited to) whether its value represents a major portion of your estate, and how its value relates to what you are leaving to each of your beneficiaries. If one of your family members is an automotive enthusiast who will be able to afford to take care of it well, and you can take care of the needs of all your family members with the rest of your estate, fine. But otherwise, it might be best considered part of the residual value of your estate (without a specific beneficiary designated in your will), so that it can be sold and its $25-50K value divided up as you have directed for all your assets not otherwise specified.

 

[latzke]

My father decided he didn't want to wait until he was dead to give his NSX to me...so eight years ago I received a very special birthday present.

It is just a car so no problem with him if I sell it, which I consider occasionally. Who knows if I will have it long enough (another 20+ years) to pass along to one of my kids. Seems unlikely...and if I die before then liquidation would be the logical choice for my wife. A few years ago I helped the widow of a local NSX owner sell his. I'm close friends with a couple other local owners who I assume would help my wife in the same way.

 

[curtsr]

My sons asked the same question a while back: who gets the NSX when you die?".
I told them that it did not matter to me because at that point I've got bigger problems than playing "who gets the NSX".
On a serious note, the will says it goes to the wife.

 

[SFNSXguy]

For those of you who can't decide either way -- I humbly make myself available to receive any and all NSXs after the passing (tear) of the owner.
Email me for the correct spelling of my name for your attorney(s).

 

[shawn110975]

me too everyone knows I will take good care of their NSX when they pass. it will have a good home. as for my NSX I want my son to have it when he is like 28 years old he will be over his speeding ticket phase of his life, and entering the look for a wife stage and will know its value and keep it.

but in the end It will not matter as I will be tring to find and meet my old dogs while growing up Bo-Bo, Pepper, Pouchie, Digger, Kayla, Simon, Yodi, Boomer. and my first dog I was to little to remember his name he was a good dog.

then I will be running around heaven tring to meet Senna tell him all of the things I did with NSX's in my life. he will like to hear my stories.

 

[nsxot1c]

I'll either leave mine to a child or request to be locked inside it and dropped to the bottom of the ocean :biggrin:

 

[latzke]

For those of you who can't decide either way -- I humbly make myself available to receive any and all NSXs after the passing (tear) of the owner.

me too everyone knows I will take good care of their NSX when they pass. it will have a good home.

If the NSX is intact when we die it goes to SFNSXguy.
If we die in the NSX it does to Shawn for rebuilding.

Do I have that right?

 

[EAC]

I have instructions for a good friend of mine to sell it.