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[collection] friend left his collection with me and passed away. (alien.top)

submitted 1 year ago by No_Rent_6845@alien.top to c/watches@style.land

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He’s also my business partner. He kept his watch collection with me since his wife doesn’t allow him to buy watches and made me promise not to ever tell his wife about them. Not only because she doesn’t like it but also because she will definitely ask him to sell them and probably spend the money on clothes and traveling like she often does.

He lets me use the watches in the condition that I don’t cause any damage. But now that he passed away it doesn’t feel right any more.

His watch collection is worth about 200K$ in todays market. I think the lawful and ethical thing to do is to break the promise and tell his wife but I’m not sure that’s the right thing to do since he made me promise not to tell her.

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[–] Street_Barracuda1657@alien.top 1 points 1 year ago

Because they were married, she will automatically inherit most of his assets. She does not inherit his debt, but she will have to pay it off. I don’t think probate would be involved unless he had an enormous amount of money in his name only. I don’t know what business you guys own, but you’re gonna want to talk to a lawyer about how that gets distributed. No idea what contracts you guys may have had. You could inherit the business, you may end up with a new partner in his wife, or you may have to pay her off. As far as the watches, she’s unlikely to ever find out. If I were you, I would not do anything till I answered the business side of the questions first. After that you’ll have to do whatever your conscious tells you. if you think your friend did not want her to have them, stick with that. If you think she’s gonna need the money, acknowledge it, there’s always the middle ground that you give some back and she keeps some too. Keep in mind when there’s death and money involved. Things can get nasty pretty quick.