Now Is the Time to Do the Right Thing with Your Cars
Terry was in the real estate business in New England, and as a result had access to multiple buildings where he could store his car collection—sometimes one car per garage. He never had space to congregate the entire collection in one place, so he decided to build a garage from scratch to house his otherwise scattered cars all under one roof. It would be a man cave of the highest order.
Earlier this year Terry, feeling unwell, went to the emergency room, where he was diagnosed with stage 4 pancreatic cancer. He was given two months to live, but he died five days later. He was 69.
This installment of Tom Cotter’s Barn Find Hunter is a bit of a departure from the norm; it’s more instructional than adventurous. But it’s a very important topic.
Normally, it would have fallen to Terry’s widow and daughter to deal with his cars, but he obviously, and correctly, decided that, not being car people, they’d be overwhelmed by the responsibility. Unknown to his close friend Ray Ayer, another dedicated car guy, Terry’s last will and testament named Ayer executor of the car portion of his estate.
As Cotter says in the episode, this installment of Barn Find Hunter has more to do with education than entertainment. Because Terry thought ahead, Ayer is in charge of finding new homes for the eclectic collection of vehicles, all of which run, ranging from a low-mileage 1980 Mercedes-Benz 380SL to a mint 1960 MGA to a 1956 Messerschmitt convertible, and possibly a Harley-Davidson and some vintage gas pumps which have not yet been located among the far-flung storage spaces that were available to Terry.
His were not vehicles that would do well on Facebook Marketplace or Craigslist—disbanding Terry’s collection required another car guy. Cars like a 1967 Morris Minor Traveller woody wagon or a 1958 BMW Isetta 600 Limousine appeal to a very narrow but enthusiastic band of buyers, and you have to know where to find them.
Ayer spent the last month bringing all the cars together in the building that would have been their permanent home, a dream garage that, when finished, would have had everything from a wash bay to a gourmet kitchen. Now, it’s just a concrete slab with walls and a roof. “It’ll never be finished,” Ayer tells Cotter. “I know, it’s a shame.”
“Car guys never think they’re going to die,” Cotter says. “They just pick up more projects… and then they leave.” The message is that now is the time to think about what should be done with your cars or motorcycles or various unfinished projects. Terry only had five days to consider it, but none of us is even guaranteed that much time.
“This is the way to do it right,” Cotter says. “Plan ahead, and make it easy on your family.”
We never know how much time we have. My latest project has been planning “my own private estate sale”. I gave my wife a list of who to invite and who NOT to invite.
Just a little clarification on the bumpers. The export model, the one sold in the U.S., had the bumper that appeared to be some sort of bumper guard. Bumperettes at the fenders and a small bumper on the door. As far as I know the home models sold in Europe did not. No way to pick up the car to slide it out of a parking spot, at least in Europe although there were many different variations built under contract from Iso and BMW.
“yet you do not know what tomorrow will bring. What is your life? For you are a mist that appears for a little time and then vanishes”
James 4-14
Yep.
One of my closest friends passed unexpectedly this April; he was divorced, lived in a condo with a 2-car garage and owned 3 British cars, both garage spaces occupied by a BJ8 Healey needing brake and front suspension work, and an MG TC rolling chassis, with restored components and extra parts squirrelled away throughout his condo and garage. Early this year, his daughters asked him to establish an estate plan; his solution was to bequeath everything to them to be liquidated and establish a fund for his grandchildren. His 2 adult daughters are not car enthusiasts, and they asked me to assist with the organization and monetizing of the automotive stuff. Fortunately, one daughter wanted the 3rd car, a solid, running steel bumper MGB GT, but my summer was spent tracking down car parts and sorting Healey parts from TC parts, as well as throwing out junk and pulling antiques that they could include in their estate auction. My friend suffered from what a LOT of us enthusiasts suffer from and the experience gave me pause: he could fix just about anything, and threw away nothing because of its potential value. AND he thought he had forever to fix stuff- he was 74 years old and died at home alone from a sudden respiratory illness. When we have enjoyed a lifetime of hunting, acquiring, collecting, and fixing, facing the realities of our last phase of life demands we make some difficult choices with a fair amount of uncertainty baked in. Helping settle the automotive part of the estate allowed me to enrich a friendship with 2 girls that I had watched grow from babies, and to and it was a way to stay close to my pal, relishing the memories of our adventures together, but I came away with the resolve to leave MY daughter and son-in-law with a clear path to settle my estate in a more effective way.
A recent issue (September) Sports Car Market had a similar column (Legal Files) that gives excellent insight into how to prepare for the sale of your collection after you “head home”. Recommended reading!
The same could be said for tools, equipment, and supplies.
With the things I have, you could build or repair just about anything you could think of.
I have the tools to work on model engines to flatheads to diesel tractors to Gardner Denver plunger pumps or Goulds horizontal split-case pumps to old Detroit iron engines and just about anything you can think of.
Along with antique tooling and stuff like boring bars and seat cutters from the 30’s and 40’s.
Lathe, radial arm drill, mig machine, cutting rig with brazing and rose bud plasma cutter, etc….
Plus a lot of supplies to work on all the above.
Most people would not know what half or more of those things are for.
I wish there was some way to keep it all together for several generations.
I hate to charge for my work nowadays and would rather barter and my medical stuff took any savings I had.
People say I am smart because of all the stuff I can fix or repair and the unobtanium that I can make.
I have to tell them, If I was so smart, then why am I in the financial condition I am, ie….living on social security.
And don’t forget the moving vehicles like my 85 F150 XLT Lariat Super cab long bed I have had for over 35 years I have just finish re doing the complete interior on , tractors, other homemade equipment, etc., etc., etc…
I wish there was some way to keep my collection together to be given to someone who would appreciate it and keep it together and even add to it….
Like I am still hunting for a Bridgeport type mill that I can trade or barter for, etc….
I am in my mid 70’s and I need to start thinking about the big endo that I still hope is very far away…