Who gets your guitars and amps if you peg it ???

Discussion in 'Bad Dog Cafe' started by tweeet, May 2, 2020.

  1. Bandboy

    Bandboy TDPRI Member Silver Supporter

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    First, state laws do vary and my experience is limited to Texas, which is not mainstream on a lot of property issues.

    The estate pays all legal debts (some debts become uncollectible after the passage of time and need not be paid) before making distributions to beneficiaries. The Will names the executor, who is usually appointed by the probate court. The executor goes about his business, and if he is an independent executor in Texas, unless he is challenged by an heir or someone else, he or she goes to the court at the end of the process, gives an accounting to the judge, and the estate is closed.

    This is when you have a Will. If there is no Will, the court appoints the executor (the family needs to be united here or the judge may appoint his poker game buddy) and oversees the estate and may ask to approve major transactions. That is why a Will is critical. If there is no Will, your heirs have much less flexibility and there is a good chance your wishes, however expressed, are less likely to be followed.

    In Texas small estates are often settled without filing the Will with the court. But if the deceased had any of the forms of modern property—real estate, bank and brokerage accounts, IRA/401ks, etc.—-you want to file a Will and get appointed by the court in order to effectively deal with these matters.
     
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  2. westies

    westies TDPRI Member

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    I have 11 guitars and 4 amps and a variety of accessories, just updated my will and left some to my niece who is an aspiring country artist, and some to my playing partner
    of several years, the most valuable ones were left to my niece with the caveat that they must remain in the family, and she must name a beneficiary in the family to inherit them
    before she takes possession. She will do the same in her will; I'd like them to remain in the family for perpetuity. My guitars mean a lot to me.
     
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  3. deathtofishy

    deathtofishy TDPRI Member

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    Saw this thread in my email feed and felt compelled to say something. This is the first non technical / or gear thread I've ever chimed in on.

    I have a client who's husband passed and has 30+ vintage guitars and is at a loss of what they are worth or how to find buyers. She knows they have value, and its scary when money is important to her but she was left no information from her husband about them. Also the idea of letting strangers in your home to try and deal with is unsettling to her.

    I've taken it upon myself to go through them with her and give her an idea on there value through sold listings on reverb and ebay. I've also offered to list them and sell them for her. There are a few that I may try and purchase myself from her. Because of helping out, she does want to give me a "better" deal then what comparable sold listings have gone for (which wasn't my intention for helping), but she now has the tools to find out an approximate value and can make an informed decision herself on what she's wants/should take.

    With my guitars, I have written instructions in the Will that is in my Trust to have my two best musician friends split them evenly. If I did not have friends that wanted them I would have written detailed information on them in each case so someone would have the opportunity to look up value. Maybe even look them up and write down what an estimated value was every 5 years or so.... really wouldn't take that long to do.

    Money isn't everything. But depending on the circumstances, it could mean a lot to family when you are gone.
     
  4. TeleTown

    TeleTown Friend of Leo's

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    Ill accept kicked the bucket, not pegged! My nephew.
     
  5. Robert H.

    Robert H. Friend of Leo's

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    Joe Bonamassa...again.
     
  6. javiersson

    javiersson Tele-Meister

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    If I cold, I'd get them hanged in the walls of my pantheon... But no money for the pantheon, so I'd better not think about it.

    If my daughters develop anyinterest in (good) music they will be for them.

    But it's hard to think about dying when you have a nice guitar collection. Aaaaaaaaargh......!
     
  7. PacificChris

    PacificChris Tele-Meister Ad Free Member

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    This. As others have said, what is meaningful to me is likely not so much for others. No one in my family will likely want any of my instruments for anything except a keepsake. They don't play guitars. I do have notes indicating what I paid for them. The total value nowadays is maybe ten grand. They'll get sold and hopefully played by someone else.
     
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  8. TwoBear

    TwoBear NEW MEMBER!

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    A couple of my experiences... My Aunt Isabel wanted to leave me her house. On one of our talks a few years before she passed away, she told me that she had been called a few times basically being hassled into splitting up the house with her goddaughter, and I. She wasn't out right crying but she was I guess tearingly telling me this. It of course pissed me off, especially as she was telling me, I don't even like cindy, she's vain and snotty... I told her that whatever you do is fine with me and just a thought of getting something at the cost of her death was pretty indescribable.. we went on talking and I just put it out of my mind. On subsequent talks I would never bring it up, and if she did, I guess I'd gloss over it just being uncomfortable. Well as I'm sure you can guess it all took a big left turn, with her being healthy enough to clean her neighbor's house of course along with hers which was spotless always, going to her brother's house where Cindy still lived, having never moved out, becoming sick there and dying. I was never informed and when I finally learned of it everyone's numbers had changed. It seems she died within a couple months of going there. I was going to try and make the story short by saying just make sure everything's in writing but it doesn't matter. When my best friend from childhood died in an auto accident, we had always talking about if I die this is yours and vice versa. on each of my birthdays I would always travel to his house and help him either wire his guitar or his Harley or something cuz he was just awful with wiring. His Harley was his prize and always was the source of when I die that goes to you, along with my guitars, Marshalls and fenders everything went to him. The reality was he's hardly was at his mom's house and she needed the money and as much as I would have liked it I couldn't take it. This was before all the kit days and we had built it up stroked to about 108, with a Dellorto, which was hell to jet for a smooth curve across low mid and high Revs back then for a couple of knuckleheads working on a shovelhead.... People come in and mangle and destroy... Sometimes what you're left with is memories... No one in that family except me shared a teary-eyed night with my aunt Isabel's husband Victor, as he picked up my guitar and played with the Django like hand that he had left after years in cement/brick Laying. It was evident from the second he played that he used to be a badass. He was attempting 13th's, and chord progressions and fills, and I was in process of trying to get together music for him to hear Django (this was a good amount of time before internet) when he passed away as a big rig t-boned him in his pickup with the gas tank inside. I know I've droned on and I'm not going to go back and reread what I've written, as I'm thinking time would be better spent calling my Aunt Vivian in Canada, she's.... oh I almost said her age, and that wouldn't be gentlemen like, I'll just say it sounds a little like 19. And remember that old adage possession is nine-tenths of the law.
     
  9. trapdoor2

    trapdoor2 Tele-Afflicted Gold Supporter

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    I have 30+ banjos and hundreds of pieces of 1890s banjo sheet music. I'm leaving a note that says:

    "Contrary to popular belief, I'm not in Hell...I've left it for you!"
     
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  10. 8trackmind

    8trackmind Tele-Afflicted

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    I'm already dead, I don't care.
     
  11. stxrus

    stxrus Friend of Leo's

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    My sister, as my only living relative, is in charge of my stuff. I’ve suggested, if she or my nephews or niece doesn’t want anything, she put it on the local Craig’s List or any of the other local buy/sell sites. There are folks that have respect for most of my stuff and would put it to good use.
    The only thing I’ve told/promised to anyone is my ‘47 Gibson BR9. He’s a friend and a very decent slide/steel player and could possibly restore it or make a piece of art out of it
    Jackie, my GF, is my partner in the house. She gets it and can do what she wants with it
     
  12. INFANT

    INFANT Tele-Holic

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    My son plays guitar, my daughter doesnt. A couple of years ago my daughter told me she wanted my "yellow" guitar after i pass. I have a TV Yellow LP Melody Maker and so I asked her if that was it. She said no, the other yellow one (my '75 Telecaster ). I told her that it was going to my son since he is the one who plays. So I told her she would get my FSR '72 Tele Thinline RI and she kinda agreed.. So I think I'll split them like this:

    Son: '75 Tele, Gibson ES137 Custom, Martin D16GT, SF Deluxe Reverb and my pedalboard
    Daughter: '72 Thinline RI , Gibson Melody Maker, '72 Ovation Balladeer and my BOSS K100.amp.

    After I'm gone, they can do whatever they want but I really want him to keep the old Tele as I bought it new when I was 18 years old....my first real electric guitar.
     
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  13. guitartwonk

    guitartwonk Tele-Meister

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    I have two sons and a daughter. Only the daughter is interested in music. But, I'm right-handed, and she's a southpaw.

    So, maybe she can get amps and pedals, but guitars are tricky...

    I guess I should give them to friends who are in bands. But since I plan to be at least in my 80s by the time I check out, many of those friends will probably be long gone too.

    Only one thing for it: pick one guitar to be buried with, then the rest can go to a local school so some spotty kid can get his mits around a Jackson SL3 or a 52 AVRI Tele while his mates are all struggling with their Encore Strat copies.
     
  14. tweeet

    tweeet Tele-Afflicted

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    This is what my Mrs would be going through. She'd have no idea what the guitars or amps would be worth. To have someone like you sorting it out is priceless and hats off to you. I'm glad I got rid of my recording studio years ago...sold all the gear...imagine what the wife or someone else's spouse would have to go through with all that recording gear to sell too !
     
  15. tweeet

    tweeet Tele-Afflicted

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    Well put...and a good read too. Money sometimes does things to people. Good friend of mines brother got their dying dad to change the will...everything went to him without my friend knowing...when she did find out she was heartbroken that her brother would take advantage of her dying dad...took every penny...she went to court...lost...needless to say they haven't spoken since.
     
  16. darkwaters

    darkwaters Tele-Afflicted

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    "Peg it"? Unusual expression. Don't think I've ever heard it before.

    Anyway... when I croak, I'm not sure. I have no kids. Can't say it's a concern. Certainly won't be then. A nuisance for Ms. d I guess. Frankly, she can make a bonfire of them in the backyard, if she wants to, although I suspect that's unlikely. She'll probably keep my black Tak for sentimental reasons.
     
  17. BlueGillGreg

    BlueGillGreg TDPRI Member

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    "If?" More realistically, that's "When!"
     
  18. Lost_N_Austin

    Lost_N_Austin Friend of Leo's Silver Supporter

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    Years ago I chronicled my experiences with helping someone evaluate and sell a bunch of guitars at this link. https://www.tdpri.com/threads/need-advice-on-evaluating-an-estate-guitars.67149/

    Before you check it out I would ask that you don't try and add a response as that is "water under the bridge" and I'm not even sure you could post on the thread.

    Just a brief recap. A Guitar Store owner in South Texas committed suicide by setting his guitar store on fire after blocking the store entrance with his locked vehicle.

    Prior to offing himself, he had surreptitiously stashed a diverse group of musical instruments at his mother's home near Houston. A friend of my asked me if I could help and I volunteered to catalog and provide estimates of the collection that included mostly guitars.

    Looking back on the experience I can say without a doubt that I learned a ton and would do it all over again. The whole process from beginning to conclusion would make an interesting podcast or short story but I will say this - if you get involved in helping out someone who knows nothing about the value, strap on your thick skin and go ahead. I think back on the whole episode with fond memories.

    Lost_N_Austin
     
  19. TelecasterSam

    TelecasterSam Tele-Afflicted

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    That's why I sold all my good stuff. Down to utility instruments and beaters!
     
  20. bblumentritt

    bblumentritt Tele-Afflicted Platinum Supporter

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    Who gets your guitars and amps if you peg it ???

    I'm accepting offers...
    • 1998 Fender Nashville Telecaster... highly modified... only the wood, frets, and tuners are original (The image of my wife not included - it stays with her).
    • PRS SE Semi-Hollow... highly modified... only the wood is original.
    • Godin electric bass
    • Martin OM-28LE
    • Home built pedal board with home built pedals (I build 'em)
    • Several amps (I build 'em)
    • Lots of amp parts
    • SansAmp Bass Driver DI
    • DigiTech RP-150
    • much, much more
     
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