When we are old ! what to do with our Corvettes

[Terry M.]

Re: When we are old ! what to do with our Corvettes

Depends on where in McCook quarry you thought you had access. I haven't patrolled that area in a while, but they have tightened up access a lot in recent years, as has every business. If you are serious about your plans, it would be wise to scout the area again.

[Ciro A.]

Re: When we are old ! what to do with our Corvettes

Wow!
I can't believe what I'm reading about burning cars or driving them off a cliff!!! Find a worthy person, for instance some young kid who just got back from Iraq or Afghanistan without an arm or leg or some hard working guy who dreams of owning a Vette, but could never afford it, and leave it to him!!! You have plenty of time to find a worthy recipient. Take a cue from Clint Eastwood in the movie "Gran Torino" Anything is better than some of the strange and selfish plans I've been reading on this thread.
As a military man, I can vouch that there are alot of young soldiers who work on their cars all the time at the Auto Hobby Shops on any military base in the country. It would be very easy to find a suitable person!

[Roy B.]

Re: When we are old ! what to do with our Corvettes

When I can no longer drive (safely), I'm going to take the 56 out into a field, pour gasoline all over it, put a match to it and that's it (seriously).
None of the 5 kids would, or could, properly take care of it, or they would sell it.
I KNOW a lot of Corvette owners, but do not have any Corvette friends (or car friends) that I would sell or leave it to.
I'm not particularly a charitable person, so that's out.
It won't even NCRS Flight (not even 3rd Flight), so it won't qualify for an NCRS member to have it.

TOM! I'm not going to agree or disagree with you about the field and burning it , but to see and have a great story for history (take a dam Video) and I hope you can drive it for a long time. Best ROY

[Steven S.]

Re: When we are old ! what to do with our Corvettes

Sorry guys, this is just a civil discussion so far and so please don't take it personally, and after all they are your cars, but setting them on fire and driving them off cliffs is just plain stupid. Do something else to make a spectacle of yourself.

Just my opinion

Steve

[Patrick H.]

Re: When we are old ! what to do with our Corvettes

I believe Medicaid looks back either three or five years, in Maryland it's a grey issue. Probably long term care insurance is best as living trust does not shelter assets (house, etc.) from nursing home expense..

Getting house and cars out of your name early is good idea if kids have no issues. Also, having children is no guarantee they will be there to care for you in, I suspect most would though.

I'm relatively sure that the 3 items I mentioned above are sheltered, at least if you still have a spouse alive.
Take a look here: http://www.360financialliteracy.org/...ing+basics.htm

Note that "Under federal guidelines, each state compiles a list of exempt assets. Usually, this list includes such items as the family home (regardless of value), prepaid burial plots and contracts, one automobile, and term life insurance."
Thus my wish for an expensive home on the lake and a vintage Ferrari for my wife once I need assistance.

In any event, I hope that everyone here has spent time with an estate attorney, no matter what your age. I'm one of the youngest guys here and I've got it all planned out!

Patrick

[Stuart F.]

Re: When we are old ! what to do with our Corvettes

Am I serious about driving into a quarry, of course not. I have things all worked out about my Vette with my family, but I can't say the thought didn't occur to me as I day dreamed looking out the window at EMD during my working years.

As for the military, I can appreciate what you are saying as they are indeed worthy. Both my sons flew for the Air Force for 10 years and did the Governments dirty work in Bosnia and Kosavo. As for me, well, I did my thing too as one of the original "Sheep Dippers" into Laos in the early 60's. When you're young and in an immortal state of being you do strange things thinking your Government will watch your back and appreciate your risk taking, or at the least not betray you. Now that I have lived a while I know better. I wouldn't recommend any of our fine young men and woman risk their lives and futures for this country lest they be left with bitter memories of how they did their best only to find their back was the target of their own Government. To see their many friends and comrades that they fought side by side with and for left behind to be slaughtered along with their families. It's shaping up to happen once again.

Enjoy your Vettes to the fullest for as long as you can. Control that which you can control, and don't fret the rest because there is little you can do about it. Oh yes! And keep your powder dry.

Stu fox

[Michael A.]

Re: When we are old ! what to do with our Corvettes

For us I sold off a few to better our retirement > Sold three at auction to help out our three kids to get a better start in life. The few I have left will be sold at auction and put in trust for my grandchildren=( when I start drooling on myself ) remember we cant take them with us ?

Holy Smokes Roy.... you sure know how to start a thread!

[Paul C.]

Re: When we are old ! what to do with our Corvettes

Dale:

Can't your uncle sell you the corvette--for say $100? Have him give his things away--this probably wouldn't work for the house. Here in Illinois you have to wait 5 years after you gave it away to take effect if you are in a public nursing home. Have him sell him sell the house for cash and then he can give away $10,000 tax free each year to all the poeple he desires. Need to talk to an attorney.
Paul

[Jack P.]

Re: When we are old ! what to do with our Corvettes

Hi, Jack here, L79 66 Roaster, bought it in 1969.

My son put his arm around me the other day (he is 6'6") 22 years old, degree in ME and Robotics, and said

Dad , don't worry , when you die , I won't sell your car.......

He has a car , 0-60 in 3.8 seconds, learned how to steer on Corvette when 3 years old.

Brought a tear to my eye


Jack

[Stewart A.]

Re: When we are old ! what to do with our Corvettes

Jack you never said what your sons car is that's quick and fits a 6'6 footer in there. Stewy

[Jack P.]

Re: When we are old ! what to do with our Corvettes

Jack you never said what your sons car is that's quick and fits a 6'6 footer in there. Stewy

Can you believe has has a WRX STi Subaru. 1999 Impressa body with a 2004 Sti motor and drive train. Son was in accident with 2004 STi and body was totaled . Kept motor and drive train, interior, and put in the 99 Impressa . Wolf in sheep's clothing. Wonder where he got that from.

Not under warranty anymore, added bigger turbos, and all the rest and now you have 450 + hp out of a little 6 banger.

Does not leave rubber like our cars, just launches, I can't shift it fast enough.

Back to how he fits, he also has Asian racing seats that squeeze your butt.

I don't know, he does rally type things, but loves the Corvette, just to ride in and be cool. Although, he feels funny not having gray hair and driving an old vett.

Jack

[Stewart A.]

Re: When we are old ! what to do with our Corvettes

Jack it's a 4 banger not a 6 although it does sound like a 6.
I bought a WRX STI from a rally freak in my home town. He was going bad and I helped him out by buying his new toy off him for next to nicks. It was a homologation model that they build 100 for the World Rally Championships. This thing was all in house built at Subaru Technica it had a closed deck block, forged pistons, big ball bearing turbo 4.44 gears adjustable front to rear 4 wheel drive splits, a 15k gearbox and adjustable rebound and squat shocks all from Subaru .
It was so fast I use to get my mates in it and scare the hell out of them. I got sick of racing cars in it so I started picking on bikes and dusted a few big bangers with it.
It was the most fun in a lunch box you could ever have. I sold it and made 30k on it. I was worried it was going to devalue since the newer model was coming out so I flogged it off. I miss it so much but the only problem was fuel. It would only get 150 miles out of a tank and that was driving like a *****. Great car but no attachment like my Vette.

[Glenn D.]

Re: When we are old ! what to do with our Corvettes

I remember the moment as if it were yesterday. My grandson (7 years old at the time) and I had just left the Bloomington Gold judging field. He was in the passenger seat as we rode through the awards presentation tent. I wanted him to have that memory. As we enjoyed our drive down a country road , top down and sun shinning , he turned to me and said " Grandpa , what happens to your Corvette when you go to heaven " ? I nearly went off the road. I guess you know where mime will end up.

[John H.]

Re: When we are old ! what to do with our Corvettes

Had this same conversation with some friends of mine who are into hot rods. Most of the folks that were around us at the time were my age or older and the same things came up. Most ,if not all, had build their cars in their own visions. Most of their kids were not into their fun and the disposition of the cars at some later date came into the discussion. I felt lucky as my daughter has already spoken for the T/A and the Vette. The few that had kids that were into cars, were running rice burners and such.

[Stuart F.]

Re: When we are old ! what to do with our Corvettes

It's funny how many of today's young adults (those in line to inherit) seem to be totally disinterested until they learn the value of these cars in Dollars and cents. I fear that if the market value goes south, so will their interest and many good machines will end up in the next Government "cash for clunkers" program. Sort of like turning Gold into Green so they can be environmental heroes amongst their peers.

Stu Fox