Hi,
Historically, gold and silver investments have meant so much more to each generation – they are a symbol of security, a symbol of a legacy. Many investors today are accumulating their bullion to pass down to their children or their grandchildren, but when this comes to an estate, a physical asset, an investment like a bar or silver bullion, an extra consideration may be involved. Here are a few ways to make this simple, secure, and stress-free for your family.
-
Maintain a Comprehensive List of the Items You Own
First, make a list, as up-to-date as possible, of your bullion holdings:
- Product type, for example, 1 oz Gold Maple Leaf, 10 oz Silver Bar
- Quantity and Serial Numbers
- Purchase Dates & Amounts
- Storage Location (Home Safe, Vault, or Depository)
You will want this record to help your successors trace their inheritance and know what they are looking at as they sort through the bullion you will be leaving behind. They may never know what you have or what you are worth if you do not leave proper documentation.
-
Choosing the Right Storage Solution
The location you keep your metals will make all the difference in terms of planning an estate.
Home Safe: Provides quick access, but make sure your executor knows the location and combination.
Bank Safe Deposit Box: Excellent security, but may encounter delays during inheritance procedures.
Vaulted Storage (with insured custodians): Usually suitable for a substantial portfolio – secure, insured, and transferable.
Whatever you decide, the important thing is clarity. It should be easy enough for your family members to know how to get hold of the bullion without any complicated matters involved, either legally or logistically speaking.
-
Name a Trusted Executor or Beneficiary
Make sure that if you are including your bullion in a will, you have made sure that the person responsible for handling your assets or “estate” is aware of its worth and how to deal with it. Not all people know how to sell, store, or validate bullion effectively.
You can also list bullion as an asset within a trust, which may make probate easier as well as allow your family quick access to their inheritance. You should discuss this with an estate attorney to learn the ideal structure you should create within your province or state.
-
Educate Your Heirs On Precious Metals
It’s not enough to leave the bullion assets behind, but you should educate your family members by explaining what bullion is all about:
- Verifying Authenticity
- Where to sell or trade, eg AU Bullion
Why It’s Important in an Uncertain Marketplace:
Keeping a small guide or manual alongside your bullion assets will help your family members understand the significance as well as handle your legacy well.
-
Work with Reputable Dealers
When the time comes to pass it down to the next generation to sell or accumulate their assets, they will want a trusted dealer they can work with. AU Bullion is transparent with their pricing, offers a competitive rate to purchase back assets, and supplies genuine assets produced by reputable mints around the world.
Final Thoughts
The transfer of bullion is a simple process; it just involves foresight and planning. You should consider your gold and silver investments as an investment, as well as a link between the past and future. Having a plan, a trusted paper trail, and professional guidance, as conveyed by AU Bullion, your legacy will live far beyond you.
