How do you split a family heirloom?

jiminwatford Posted a lot Posts: 2,602	How do you split a family heirloom?jiminwatford @jiminwatford
	Jul 7, 2023 21:12:51 GMT Select Post Deselect Post Link to Post Back to Top
	Around 2003 i got hold of a Mini for my mum. She paid and i had it resprayed and added lots of bits to make it a nice car In 2011 it got another respray and a new boot floor / subframe but was unreliable so i paid half towards a Fiat Seicento for her and kept the Mini at my place This year i decided to get it going for her birthday. Another £2000 or so later and it's nearly back to being a nice car I have a brother. He has never said explicitly how he feels about the car but every now and again he has said 'oh we've still got Mum's Mini' I know he likes or liked Minis as we all grew up with them but i don't think he has any sentimental feeling for this one My mum is in her 70s. I'm not planning on selling it but you never know At the moment even though it's got some very nice new stuff on it i'm not sure it's worth more than £4000. 12 years after the last respray it looks almost ready to erupt in blisters again. And what i saw underneath before sanding it back and covering in wax makes you think I have a sister as well but she feels no possessiveness towards it Just wondering what people's thoughts and or experiences are
	Last Edit: Jul 7, 2023 21:13:14 GMT by jiminwatford

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stealthstylz Club Retro Rides Member Posts: 14,840 Club RR Member Number: 174	How do you split a family heirloom?stealthstylz @stealthstylz Club Retro Rides Member 174
	Jul 7, 2023 21:31:01 GMT Select Post Deselect Post Link to Post Back to Top
	Depends how much you need the car/money. If I had other cool cars at the time I'd probably let my brother have the mini (if he was going to look after it) then he could have the fun of owning it, but with proviso that if he does sell the money is split between siblings


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dodgerover Posted hell of a lot "These days turned out nothing like I had planned" Posts: 5,882	How do you split a family heirloom?dodgerover @dodgerover
	Jul 10, 2023 17:40:47 GMT Select Post Deselect Post Link to Post Back to Top
	If anything happens he will either want it or want half his perceived value of it - if it were to be sold. Death brings out the worst in people.
	Mk2 lwb transit work van retrorides.proboards.com/thread/159214/new-work-1985-transit-update Dodge 50 (247CUi) powered Range Rover (resting), WANTED Aussie Valiant

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ironmighty07 Posted a lot Posts: 1,423	How do you split a family heirloom?ironmighty07 @ironmighty07
	Jul 11, 2023 4:38:55 GMT Select Post Deselect Post Link to Post Back to Top
	Without sounding dreadfully cold, have the conversations with your brother/sister/mum and make sure there's a will reflecting what's agreed. in my experience the total estate value would likely be split between parties, often equally across siblings, but specific assets are valued and assigned as part of the calculation to the share of each party. Each case is unique, so agreeing it and capturing legally is the best thing you can do.
	2014 - Audi A6 Avant 3.0Tdi Quattro 1958 - Chevrolet Apache Panel Truck 1959 - Plymouth Custom Suburban 1952 - Chevrolet 2dr Hardtop 1985 - Ford Econoline E350 Quadravan 2009 - Ovlov V70 2.5T 1970 - Cortina Mk2 Estate 2007 - Fiat Ducato LWB 120Multijet 2014 - Honda Civic 2.2 CTDi ES

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