PaddlUp probate: what happens to your supercar collection after you’re gone?
As we've covered many times in the PaddlUp Newsroom (see our F40 investment case study and interview with Joe Priday), supercars are a worthwhile investment that often surpasses established ventures such as property, stocks and shares or gold. Not only that, but it also provides a very tangible asset that you can use and enjoy whilst its value increases.
But what becomes of your classic car, sports car or even supercar collection if the worst were to happen? To coin the phrase "the only things that are certain in life are death and taxes" seems pertinent.
Firstly, we'd like to extend our condolences to you and your family. If you are reading this, it's likely that you've recently lost someone close to you. If not, and you're contemplating your own mortality and preparing for the worst, then we're also sympathetic to any underlying reasons surrounding that. Whatever the case may be, we're here to help you navigate the grim and murky waters of creating a contingency plan for your automotive assets.
Whilst we’re not tax advisers, nor private client practitioners, we at PaddlUp have the tools to make life a little easier for you at a potentially difficult time.
Of course, there are several vital steps to take when dealing with a deceased loved one's possessions, such as their supercar. These include establishing if there is a will and who the executors are, informing banks and lenders as well as taking care of inheritance tax and applying for the grant of probate.
Our no-sale, no-fee and hassle-free approach to supercar sales and our enthusiastic pool of buyers enable us to take one thing off your plate. We know this will be a difficult and testing time for you and your family so it's one less thing to worry about.
The last thing you need after the loss of a loved one is to have your privacy interrupted by the viewing and haggling that comes with selling a supercar. With our expertise and know-how, we hope to take the sting out of the process, keeping the supercar safe and your privacy protected.
Click here for more information on how PaddlUp can help you with supercar probate.