Collection Management for Estate Planning and Insurance Documentation

Professional Documentation for Insurance and Estate Planning

Whether you're protecting your investment, planning your estate, or both, comprehensive documentation is essential. NM Collector provides the detailed records insurance companies require and executors appreciate.

For Insurance Claims

What Insurance Companies Need:

Item descriptions with specifications
Serial numbers
Purchase dates and prices
Current market values
High-resolution photos
Purchase receipts
Proof of ownership

What NM Collector Provides: All of the above, organized and printable at a moment's notice.

After a Loss (Theft, Fire, Flood): Imagine filing an insurance claim from memory. What did you own? When did you buy it? What did you pay? What's it worth now?

With NM Collector:

Export comprehensive inventory report
Include photos of every item
Provide purchase documentation
Show current valuations
Submit complete claim in hours, not weeks

Fictionalized Story Based on Real Life Experiences: "Our house was burglarized and they took my gun safe. Insurance asked for serial numbers, photos, proof of purchase. I had it all in NM Collector. Printed a report, emailed it to the adjuster. Claim processed in 10 days. My neighbor, who kept handwritten records in the safe, is still fighting with his insurance company six months later."

For Estate Planning

Why Executors Struggle with Collections: Most executors aren't collectors. They don't know:

What items are valuable vs. common
Proper terminology
Where to sell specialty items
Fair market values
Provenance or history

How NM Collector Helps - Detailed Documentation: Every item fully described with:

Specifications and condition
Purchase information and provenance
Current value estimates
Photos from multiple angles
Notes on significance or history

Organization That Survives You: Your executor inherits organized, professional documentation—not boxes of unidentified items.

Fair Distribution: When dividing collections among heirs:

Accurate valuations prevent disputes
Detailed descriptions help heirs choose
Photos let remote heirs see items
Notes preserve family history

Simplified Appraisal: Professional appraisers can work from your inventory, reducing evaluation time and cost.

Tax Planning & Documentation

Capital Gains: If heirs sell items, they need cost basis information. NM Collector tracks:

Original purchase price
Purchase date
Selling price
Date sold
Gain/loss calculations

Estate Valuation: Executors must value estates for tax purposes. Your inventory provides:

Current market values
Comprehensive item list
Professional documentation
Date of death valuations

Privacy Matters in Estate Contexts

The Risk of Cloud Storage: Cloud-based inventory software raises questions:

What happens to account when you die?
Can executor access cloud account?
Does vendor terminate account?
Are passwords lost?

The NM Collector Advantage:

Data stored on your devices
Inheritable like any other file
No account to access
No passwords to find
Works indefinitely
Executor gets full access via physical device

For Professional Collectors & Dealers

Inventory Management:

Track acquisition and disposition
Calculate profit/loss per item
Identify slow-moving inventory
Plan tax-advantaged sales

Record Retention:

ATF requires 20 years for firearms records
IRS wants documentation for tax years
Offline storage = your control over retention

Client Documentation: Create professional reports for customers:

Detailed specs and photos
Provenance documentation
Valuation support

Getting Started

Step 1: Download NM Collector and start 30-day free trial

Step 2 (optional): Enable OS-level encryption on device

Step 2: Choose collection template(s) or create custom

Step 3: Photograph and document items systematically

Room by room for home inventory
Safe by safe for firearms
Album by album for stamps/coins

Step 4: Create encrypted backup on USB drive

Step 5: Update estate documents to reference your inventory