Although I understand the guidelines of deductions for giving to charitable
institutions, I encourage you to ask your accountant for the answer to your
question.  Make sure he/she is well-versed in the area first.  Whether the
deduction is beneficial upon your death or not depends a great deal on your
specific financial situation.  In fact, it may be better to donate the
collection before your demise.  The collection need not be moved to the
non-profit institution until after you die, but you can take advantage of
the tax break now (check with your accountant).

Larger institutions probably won't want your collection unless you offer
them some money, probably in the form on an endowment, which would be used
to move, enter and maintain the collection.  Then, the specimens will most
likely never be seen by the public, but will be reserved for occasional
scientific research.

I am now developing an alternative for individuals such as yourself.  I am
in the process of building a small museum in Delaware, with the intention of
hosting school classes for inspection.  I will be using drawers in stacks,
with a display case on the top of each stack.  I will be able to change the
display by alternating the drawers periodically.  The display will always be
"new".  I have not filed for the 501 C-3 status yet, as I am still preparing
the physical space for the museum, but when the IRS certification is
complete, one will be able to take the tax benefit, and also be sure that
their shells will be seen - and used to get young people interested in
conchology and the environment.

Selling your collection is certainly an alternative, but as you say, most
people would not understand the value (at least in terms of value).  You
need to decide whether you wish to keep the collection intact, or if you
will sell "pieces".  Of course, you could ask a dealer to handle the sale,
do it privately, or you might consider placing your collection on auction
(probably online).

BTW, I believe lots of collectors love "micros"!

Sam
[log in to unmask]
Delaware, USA

-----Original Message-----
From: G Thomas Watters <[log in to unmask]>
To: [log in to unmask] <[log in to unmask]>
Date: Friday, October 08, 1999 7:05 AM
Subject: [CONCH-L] death & taxes


>When I die, which could be any day now, I plan to donate my collection to
>some appreciative institution so that my spousal unit can take a tax
>write-off. But I've been told she could do better by selling it, which I
>find hard to believe because so much of my collection is "obscure" stuff -
>micros - that never show up on a list. I've also been told that she would
>not be able to declare the total value of the appraised collection if she
>donated it. Anyone have any info on this?
>
>
>*****************************************
> G Thomas Watters
> Ohio Biological Survey &
> Aquatic Ecology Laboratory
> Ohio State University
> 1315 Kinnear Road
> Columbus, OH 43212 USA
> v: 614-292-6170  f: 614-292-0181
>******************************************
>
>"The world is my oyster except for months with an 'R' in them" - Firesign
>Theater
>
>"Give a man a fish and you feed him for a day. Teach a man to fish and he
>has to buy a license" - GTW