Tuesday, February 21, 2023

Chronicles of Twatrick: After-acquired assets.

Oh, my ...

Well, if Patrick still had a trustee, he'd declare them as an "after-acquired asset", but since Patrick's trustee discharged himself from Patrick's file in disgust due to Patrick's non-compliance almost a decade ago, I will just record this in the "Stuff I will take from Patrick when the reckoning comes due" file.

It's not clear whether Patrick's stupidity is endangering the financial well-being of any of his siblings, but I would speculate that none of them will be thrilled to know what Patrick is spending their inheritance on.

That's just a guess.


Brian Busby said...

An incomplete set of Bradford Exchange Titanic "Queen of the Ocean" Series plates. Unless that "cherry of a price" was $8 per, he got taken.

Speaking of taking, CC, before these and his other near-valueless collectables come into your possession, are they evaluated? I'm assuming so.

Anyway, it should be fun to eat off these at your celebratory dinner. I sense it's almost time to fire up the grill.

MgS said...

@Brian Busby:

The question of valuation would likely have to be on a “fair market value” basis.

I’m guessing a little here, but as I just spent the last 10 months of my life liquidating my neighbour’s estate (don’t even ask how I ended up in that position!). As we moved into the process of liquidating the contents of the house, the question of “fair market value” came up, and really what it turned out to be is “what is fair market value”, it basically turns out to be “whatever you can get someone else to pay for it”.

A great example of this was a desk that was in the property. It was a beautiful example of 1980s Scandinavian furniture made from beautiful wood. At a glance you would have said the desk was worth a pretty fair penny. The problem was the desk was huge - 6’x4’ (roughly) - far bigger than most people want - although I would have hoped for the desk to garner a few hundred dollars, but instead that desk wound up in the charitable donation pile.

rabbit said...

I am trying to imagine a life where I spend inordinate amounts of time and energy on personal vendettas, seeking to punish those who I view as enemies.

It's an ugly vision. We are on this globe for a only a moment, and obsessing over perceived foes -- stewing in our own anger -- is not a worthwhile way to spend it.