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You can't take it with you.

The Stamp Collecting Report, I'm Lloyd de Vries.

North Carolina stamp dealer Jay Smith says too many collectors ignore the inevitable -- and 
when they pass away, they leave behind a stamp collection and a LOT of questions for their 
families.

Luckily, Smith says there are organizations that can help.

"The first one I would think of would be the American Philatelic Society. There's also the 
American Stamp Dealers Association and the National Stamp Dealers Association. All of those 
organizations can provide names of dealers in their area who can be of assistance." :16

Organizing the collection before leaving it is important, too, and Smith says the collector 
should make notes--

"so that the family knows that certain books or certain boxes are where the key valuable 
items are located." :07

Also important is leaving a clear -- and honest -- idea of what the collection is worth. Some
collectors boast to their families about how valuable the collection is, while others minimize 
it, perhaps to hide how much they've spent. Smith says that could cause the heirs a problem.  

"They're open to being taken advantage of if a potential buyer thinks they could get away with 
something that they shouldn't get away with." :07

The key is to plan for the inevitable now....and document it.

I'm Lloyd de Vries of The Virtual Stamp Club. For more on stamps and stamps collecting, and 
what to do with that collection, visit virtual-stamp-club-dot-com.

(Repeat from August 2010)

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