Thoughts of an heirloom…advice needed

[Mystro]

Originally Posted by Neil McCauley

Question for those of you with kids (I do not)

Would you be more likely to give the watches while you’re still around? Or will you make them wait until you’re gone?

They get them when I am gone. The idea they were dads watches and very dear.

[hd-bagger]

Originally Posted by Neil McCauley

Question for those of you with kids (I do not)

Would you be more likely to give the watches while you’re still around? Or will you make them wait until you’re gone?

I fully intend to pass my watches and other possessions along while I’m still around. I don’t know when or where, but I feel like I’ll know when the time is right. I’d much prefer to see my heirs enjoy things like that.

I’m just the lucky guy that gets to enjoy them before they do.

[Ferrari308]

Ok, so I have three kids. Girl, boy, and girl.

A few years ago when I bought my first Rolex (116503 Daytona) I was overjoyed to have it. But I wanted one more - so I found a Sub (16610) and bought it.

Then I ran into my first problem. I had two Rolexes, but three kids, so I found another one to add to my collection (OP 1014). Now, I had three watches to pass to my kids.

But then I found a good deal on a Datejust (1601), which I thought fit perfectly into my collection. Now, I had FOUR Rolexes, but three kids. I figured I would do something to ensure they all ended up with something equal. So, I came across another Datejust (1601), and added that. This made number FIVE.

Then I got the call for my wife's Rolex (278XXX). So, now we were at SIX, and then I came across another Datejust for her from the 90s, I can't remember the model number. This made SEVEN.

But I really wanted a GMT (Pepsi), so I found a 16710 and added that one. So, at this point between the kids there are EIGHT watches and three kids. This meant that I had to find one more so that each of them would eventually get three. Recently, I found the watch and bought a Day Date (18238).

My wife has put her name on wanting my Daytona. So, when I go she should get that and will have her two Datejusts. The kids will have six to divide up at that point. Each of them will get two. My son put in his claim on the Submariner. I figure one daughter will get the GMT and the other will get the DD. Then they will divide up the two DJs and the OP. I want it to be so that when my wife passes, the three that she has will be divided up.

Will I give them to them or let them inherit them? I don't know yet, but I don't see that happening for a while. I am in no rush to pass them along yet.


PDG

[rolexpatek363]

Originally Posted by hd-bagger

I fully intend to pass my watches and other possessions along while I’m still around. I don’t know when or where, but I feel like I’ll know when the time is right. I’d much prefer to see my heirs enjoy things like that.

I’m just the lucky guy that gets to enjoy them before they do.

Sell the watches and invest the money in the S&P 500 as an inheritance for your child(ren). They will thank you for doing that for them, as it will be worth far, far more..

[hd-bagger]

Originally Posted by rolexpatek363

Sell the watches and invest the money in the S&P 500 as an inheritance for your child(ren). They will thank you for doing that for them, as it will be worth far, far more..

That’s not gonna happen. Haha. Hopefully there will still be plenty of investments to go around.

[Mk2rick]

I have watches that will go to my son.. my wife's watches will go to my daughter.. maybe i'll keep one to pass to my son-in-law.. thats a big ? but if he is a douche bag then he can forget about it ahahaha

[Zach69SS]

Congrats on the baby and the BLNR.

Cheers,

[KatGirl]

Originally Posted by Mystro

They get them when I am gone. The idea they were dads watches and very dear.

Same for me. My goal is to leave them each a Rolex. They can divvy up the other brands, or sell them, if they want. My only son-in-law is a watch lover, so may have to leave him something nice, too.

Kat

[joli160]

Might very well be that none of the kids will ever wear a wrist watch. I see so many young ones without nowadays.

[Neil McCauley]

Originally Posted by Mystro

They get them when I am gone. The idea they were dads watches and very dear.

Originally Posted by hd-bagger

I fully intend to pass my watches and other possessions along while I’m still around. I don’t know when or where, but I feel like I’ll know when the time is right. I’d much prefer to see my heirs enjoy things like that.

I’m just the lucky guy that gets to enjoy them before they do.

Interesting to see the different responses. As I say I don't have kids (and not to get too personal, but probably won't be able to) but I think I would fall into the camp of wanting to hand something down a bit later on in my life so I can see their faces and see them enjoy it.
My mother in law holds my wife's grandmother's jewellery back from my wife despite it being verbally left for her before she passed, and it causes some animosity. I'd much rather make sure that stuff is all done and out of the way, way before I'm gone.

My younger brother will get one of my watches, and that's as much as I've promised so far.