Pass onto the next Generation? - Ferrari Life
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post #1 of 26 Old 03-19-2010, 08:37 AM Thread Starter
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Pass onto the next Generation?

Gentlemen what would you do to your Ferraris when you can no longer drive them? Would you just let your kids inherit the love of your life and if so is that necessary a good thing? after all they didn't work for it or they might not understand or fully appreciate the beauty of such fine art even worst they might just sell it right after you kicked the bucket. Now ask yourself this question are you a giving person? would a charity auction be out of the question? The money from the auction can help others that are less fortunate as we are and at the same time let other lucky individual dreams come true? Something to give back before we all go to hell maybe...


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D
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post #2 of 26 Old 03-19-2010, 09:03 AM
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My 2 cents

Specifically they will not get the cars. Matter of fact it should be written into the will as they must be sold, unless the wife wants them, where I'm thinking she will. However, my cars are NOT rare, collector vehicles, and even if they were, the reason for keeping in the family would have to have other concerns > $$$$. That is, MEMORIES and such. I would be just as happy to have the family old Ford tractor as there were tons more memories on that thing and price/worth wouldn't enter the equation.

Then again, bankrupting the family for a thing is out too.

Unless their passion was the same as I, which it isn't, they wouldn't be considered on the list. They love the cars, have never driven them, as they are too frightened, do love cars in general to the point of modifying them, but haven't the means to up it to a Ferrari at the moment: Case is, these cars unless well funded can drain the better things a family should be concerned. They could buy a boat and have a different fun. etc.

They couldn't and shouldn't try to afford what I've done with these cars as it would burden them. IF they wanted them and truly wanted the experience then I'd work it over to them but they would be not just be tossed the keys on a death.

Their passions should only be satisfied in my will where it melds with theirs....not me assuming such.

Guide to the Galaxy: Don't Panic
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post #3 of 26 Old 03-19-2010, 09:09 AM
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Leave the car to me and I will promise to take good care and I'll think fondly of you everytime I drive it.

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Life is Good!
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post #4 of 26 Old 03-19-2010, 09:40 AM
 
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I guess it depends what kind of relationship you have with your children and what personality/demeanor your children have...

I was 33 when I bought my first sport bike.... I have it listed in my will that my son gets 1/4 of the money at 18, 23, 28, 33... if he at anytime buys a sport bike, he gets no further money until he's 40.

My reasoning is that when I was 18, if I had a sport bike, I'd be dead... hopefully if he can make it to 33 like I did, have a job/career/family, maybe he'll be more mature to handle his testosterone when he has others to live for?

As for a Ferrari, I hope to buy a used 360 or 430 in the next year... I have every intention of giving to my 5 year old son when he gets married (hopefully in his late 20's) as a wedding present...

I'm all for giving things to my children, who says you cant? Who says you had to suffer and work hard, so they must too? As long as my children are productive and contributing to society I'll help them any way I can.... wouldn't you have liked it if your dad gave you a Ferrari if he had the means?

If my kids are deadbeats just sitting around smokin' pot and playing xbox 360 all day, then that's a whole other story which would change my charitable attitude real quick!

I do like the consideration above about "upkeep" and "maintenance" of a Ferrari... you don't want your kids going broke trying to keep the car.... but I've got a 2.5 million dollar life insurance policy too, if I kicked the bucket tomorrow, I think they could afford maintenance costs.
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post #5 of 26 Old 03-19-2010, 10:18 AM
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Quote:
Originally Posted by KKRace View Post
Leave the car to me and I will promise to take good care and I'll think fondly of you everytime I drive it.

Was that for me? IF so, NO WAY, you would have a hit man on me pronto.

[make note: another reason to leave off will]

Guide to the Galaxy: Don't Panic
Rik -- LAH !


Current:
Past:
1990 Mondial T Cabriolet SN 86247 : Red/Tan
1995 456 GT 2+2 SN 99987 : Roso Metalizzato [Fer 311/C] & Tan

Last edited by Granucci; 03-19-2010 at 10:24 AM.
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post #6 of 26 Old 03-19-2010, 10:23 AM
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Quote:
Originally Posted by Mark Ducati View Post
I guess it depends what kind of relationship you have with your children and what personality/demeanor your children have...

I was 33 when I bought my first sport bike.... I have it listed in my will that my son gets 1/4 of the money at 18, 23, 28, 33... if he at anytime buys a sport bike, he gets no further money until he's 40.....

Sort of my approach: My children receive NO money if the get married for five years. IF they split up, the clock ticks again for NO money for seven years.

Money should not be the key to love, nor a means to end it. Besides too many see that bank roll and are short sighted enough to fail with it.

They, will get allowances over time. Money doesn't buy happiness nor should one be in love with it as their life ambition, IMO.

Guide to the Galaxy: Don't Panic
Rik -- LAH !


Current:
Past:
1990 Mondial T Cabriolet SN 86247 : Red/Tan
1995 456 GT 2+2 SN 99987 : Roso Metalizzato [Fer 311/C] & Tan
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post #7 of 26 Old 03-19-2010, 11:19 AM
 
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If my kids are deadbeats just sitting around smokin' pot and playing xbox 360 all day, then that's a whole other story which would change my charitable attitude real quick!
You know me so well. At least I have a job .
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post #8 of 26 Old 03-19-2010, 05:02 PM
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Originally Posted by Granucci View Post
Was that for me? IF so, NO WAY, you would have a hit man on me pronto.

[make note: another reason to leave off will]
I would never hire a hit man on you, if you want the job done right you have to do it yourself I always say.

How do you keep the wife from taking you out and collecting the money? If you leave it all to me she'll have an incentive to keep you around longer.

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Last edited by KKRace; 03-19-2010 at 05:29 PM.
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post #9 of 26 Old 03-19-2010, 06:45 PM
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sorry, my ferrari is not the love of my life. When i die, they can do what they want with it.



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post #10 of 26 Old 03-20-2010, 09:01 AM
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My kids are 4 and 2
It makes me wonder about the passion they might have.
I think it will be different then when I grew up, I grew up having the passion and the dreams to aquire one.

Now that it's in the garage will they understand and have the same passion as I do..
Probably not, But they will experience something that dad loves to do and the memories it will bring us and I think that is the most important when I'm gone.

I wouldn't burden them with the cost's of my dream but I told my wife if something ever happens to me, Log into Ferrari Life and ask the boy's to help.

I feel better putting the burden on you guy's to sell it for her LoL

Granucci said it best;

"Their passions should only be satisfied in my will where it melds with theirs....not me assuming such."

Cheers!
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post #11 of 26 Old 03-20-2010, 12:02 PM
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You bring up an interesting point, David. What to do w/the cars.

Don't know what to do. Probably best to have vehicles sold and the funds go to either fund the "demonstrative" (cash) gifts or go to the residue of the estate.

then no one can argue!

And further in 20 years I'll probably have 20,000 miles on the car and who wants a Ferrari w/that many miles?
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post #12 of 26 Old 03-20-2010, 12:39 PM
 
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You know me so well. At least I have a job .
hey dude, where are you working at in corvallis?
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post #13 of 26 Old 03-20-2010, 12:42 PM
 
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You bring up an interesting point, David. What to do w/the cars.

Don't know what to do. Probably best to have vehicles sold and the funds go to either fund the "demonstrative" (cash) gifts or go to the residue of the estate.

then no one can argue!

And further in 20 years I'll probably have 20,000 miles on the car and who wants a Ferrari w/that many miles?
i would =]

many miles could mean two things:

-well worn

or

-well loved

and by reading these posts on here, you guys seem to love your cars.
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post #14 of 26 Old 03-20-2010, 01:19 PM
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At an average 30-40 miles per w/e and with 3 months off for rain it will take a while.

But we do love our cars.
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post #15 of 26 Old 03-21-2010, 07:26 PM Thread Starter
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By the amount of reponse on this thread i can see this question might be too personal for some, i must admit it must be very difficult to let go of something so beautiful!

Cheers
D
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post #16 of 26 Old 03-21-2010, 07:29 PM
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It's only a car, David. I could let it go.

I would not let my bride go, however.
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post #17 of 26 Old 03-21-2010, 07:50 PM
 
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It's only a car, David. I could let it go.

I would not let my bride go, however.
an audi driver from the documentary "Truth in 24" once said that, "there are two things a man never shares, his woman and his car."

=D
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post #18 of 26 Old 03-21-2010, 08:10 PM Thread Starter
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Quote:
Originally Posted by Gcalo View Post
It's only a car, David. I could let it go.

I would not let my bride go, however.
For me it has always been just a car, just wanted to see how others react to the question.

Cheers
D
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post #19 of 26 Old 03-21-2010, 08:35 PM
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I did once know of a man who would never share his car but many others knew his wife!!!
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post #20 of 26 Old 03-21-2010, 09:35 PM Thread Starter
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Maybe she needed a service an oil change perhaps?

Cheers
D
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