Showing posts with label Jewelry Tools. Show all posts
Showing posts with label Jewelry Tools. Show all posts

Sunday, March 31, 2013

Jewelry Tools, What will happen to them later in life?

It suddenly occurred to me the other day that no one in the family would know what to do with all my tools, supplies and equipment, if tomorrow I died.  I also wondered if those who follow this blog have any plans for such an occurrence.  Your heirs, if they have no knowledge of what you have invested in either your business or hobby, could easily lose a considerable amount of money that should rightfully be theirs.

What should one do?  This is what I've come up with:

Make a inventory of everything related to your jewelry making.  How much you paid for each item and its source.  If you have kept all your invoices, that will help if you don't know.  I have a handful of old and somewhat scarce tools which, if an heir did not know that, may let them go for a song instead of what they are worth.  As an example, and I'm not bragging, I have two parallel action round nose pliers made by Schollhorn.  How often do you find those floating around?  To the right person they are worth more than the couple of dollars an heir might realize at a yard or garage sale.  

With the inventory, indicate the general location of the items on the list.  For example:  MY rolling mills are in the garage, covered up and maintained so they are in excellent condition. So their location is listed on the inventory as: garage, on end of bench.  I have a photograph of them to help an heir identify them.

Leave suggestions for heirs on possible ways for them to dispose of your tools, etc.  Sell them on Ebay or Etsy.  A local bead shop may allow putting up an advertisement.  Maybe you have friends that would bid on your things.  I don't know, I'm just sort of braainstorming here.

Anyway, it is something to think about, and I am certainly open to suggestions, as I've only scratched the surface on this subject.