Logos after death

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This post has 23 Replies | 6 Followers

Posts 98
Tim Hogan | Forum Activity | Posted: Thu, Mar 15 2012 6:20 AM

Hey everyone,

I'm married with no children and have as a wife who is someone so tied up she has no real interest in logos. If I have say $30,000 tied up in logos what is she supposed to do when I die to have any of this turned into security? Who would even have the funds for a package deal of $10,000 for it all or even $5,000 or $1,000 at that; I do realize donating it ( I see posts on that), but at those prices that is donating isn't it, but what about helping her. Where would I direct her to start? If I could just direct her where to start; that is my question.

Thanks for your help (don't read into this)

Tim

Posts 6484
Forum MVP
Lynden Williams | Forum Activity | Replied: Thu, Mar 15 2012 6:32 AM

How about having her auction it on Ebay. Then she can have Logos transfer the lisence to the purchaser for a cost of $20.00

Everything ever written in Religion and Theology formatted for Logos Bible Software.Logos Youtube Channel

Posts 98
Tim Hogan | Forum Activity | Replied: Thu, Mar 15 2012 6:34 AM

Thanks Lynden I think ebay would be the way then,

blessings

Posts 1649
Room4more | Forum Activity | Replied: Thu, Mar 15 2012 6:42 AM

Tim Hogan:

Hey everyone,

I'm married with no children and have as a wife who is someone so tied up she has no real interest in logos. [...]

Tim

You pose an interesting concept that someday may be a reality – or we will hear the Trumpet and just go straight to the source.

Yet, in all, I have often pondered the same. As I have children I spend some time as it is allowed to get them into L4 in the event that something should happen, this way the monetary value can at the least be handed down.

On the other hand, I would presume that there is at least one aspiring individual that you have taken under your wing and help to guide and mold into an Image that reflects the Love and Compassion of our Beloved Saviour and Son of the Most High.

Maybe in some sort of guiding way, you may see a usefulness in passing on such an astounding Bible package, so that they too, may relish themselves to a dedicated indepth study of the Word of God.

 

DISCLAIMER: What you do on YOUR computer is your doing.

Posts 18712
Rosie Perera | Forum Activity | Replied: Thu, Mar 15 2012 6:53 AM

It's a good question, one I don't think anyone has really pondered or figured out. I think it would be pretty hard to turn a Logos library into cold hard cash, especially since there isn't a significant marketplace for such assets. Logos has explicitly forbidden us from selling (or even giving away) Logos resources on the forums. One might be able to sell individual collections or books on eBay or something, but the people who are interested in Logos resources are right here on these forums, where the resources can't be sold. And a person who isn't a Logos user (such as your wife) wouldn't have the slightest clue where to begin in trying to split off chunks of your library to sell them together to interested parties.

I suggest you:

1) Put your logos login info somewhere that your wife can access it in the event of your death, and leave instructions about where to find your Orders page which will list how much you paid for everything, so she could at least begin to figure out how much to ask if she were going to sell items. Of course you've got to factor in the transfer fee (which is something like $20-25 per transaction) so the impetus would be to try to sell the whole library as one unit if possible, or break it into the largest chunks possible. Leave her some suggested lists of resources/collections that might go well together.

2) Keep on hand a list of people you know who might be interested in buying some of your Library if you should kick the proverbial bucket.

3) Put aside a percentage of what you might normally spend on Logos resources over the next few years, and instead buy some life insurance with that money.

Hmm, turning a Logos library into a life insurance policy. Now there's a business plan someone ought to develop...

Posts 98
Tim Hogan | Forum Activity | Replied: Thu, Mar 15 2012 7:00 AM

Good ideas, I have already shown her where to go to delete prepubs and cp's and life insurance to buy matching purchases is a good idea if doable (already have life insurance) but always to be more i think.

Thanks for thinking (for me:))

Posts 3578
steve clark | Forum Activity | Replied: Thu, Mar 15 2012 7:23 AM

If she were to auction it on Ebay and sell the whole thing, she probably would not get a good return on the investment.

But if she were to auction a collection at a time, there is probably a better chance of a good return on the investment.

EDIT: so you might want to document which collections would be offered at a time and even possible what you would hope to receive for each collection. Also even document how to advertise each collection along with some photos of book covers.

QLinks, Bibl2, LLR, Macros
Dell Insp 17-5748, i5, 1.7 GHz, 8G RAM, win 8.1

Posts 9947
George Somsel | Forum Activity | Replied: Thu, Mar 15 2012 8:27 AM

Tim Hogan:

Hey everyone,

I'm married with no children and have as a wife who is someone so tied up she has no real interest in logos. If I have say $30,000 tied up in logos what is she supposed to do when I die to have any of this turned into security? Who would even have the funds for a package deal of $10,000 for it all or even $5,000 or $1,000 at that; I do realize donating it ( I see posts on that), but at those prices that is donating isn't it, but what about helping her. Where would I direct her to start? If I could just direct her where to start; that is my question.

Thanks for your help (don't read into this)

Tim

Just keep using it after you die.  Big Smile

george
gfsomsel

יְמֵי־שְׁנוֹתֵינוּ בָהֶם שִׁבְעִים שָׁנָה וְאִם בִּגְבוּרֹת שְׁמוֹנִים שָׁנָה וְרָהְבָּם עָמָל וָאָוֶן

Posts 570
Rev Chris | Forum Activity | Replied: Thu, Mar 15 2012 9:41 AM

Tim Hogan:

Hey everyone,

I do realize donating it ( I see posts on that), but at those prices that is donating isn't it, but what about helping her. 

Thanks for your help (don't read into this)

Tim

While selling it at deeply discounted prices (as might result from eBay) might *seem* like donating, it is definitely not.  From a IRS perspective, you would be selling it for market value.  However, donating the entire thing to a church would qualify for a big tax deduction, and would quite possibly give you a bigger return on your investment than selling it would.  Yes, piecing it out will give you the highest return on investment (assuming you could sell all the packages), but the hassle it would require and the time it would take might not be worth it for your wife.  For $20 and a one-time deal, I would seriously consider donating the entire account and taking the tax deduction on your estate.

 

Pastor, seminary trustee, and app developer.  Check out my latest app for churches: The Church App

Posts 1051
William Gabriel | Forum Activity | Replied: Thu, Mar 15 2012 12:46 PM

Rev Chris:

While selling it at deeply discounted prices (as might result from eBay) might *seem* like donating, it is definitely not.  From a IRS perspective, you would be selling it for market value.  However, donating the entire thing to a church would qualify for a big tax deduction, and would quite possibly give you a bigger return on your investment than selling it would.  Yes, piecing it out will give you the highest return on investment (assuming you could sell all the packages), but the hassle it would require and the time it would take might not be worth it for your wife.  For $20 and a one-time deal, I would seriously consider donating the entire account and taking the tax deduction on your estate.

That is an interesting strategy, but is it legally feasible? Since the Logos license must be held by an individual and not an organization, I don't think it's possible to donate it in a tax-deductible way. First, you only get a tax-deduction when you can demonstrate that you are donating to a charity in a manner that is not directed toward an individual. They do this so you can't funnel money tax-free to another person; it must sit on the balance sheet of the organization for them to choose what to do with it.

I think there is a lot of wink-wink, nudge-nudge that goes on with donations like this (check written to a charitable cause with the understanding that it will go for a particular purpose/person, though it's never officially confirmed). But I don't think you'll even be able to engage in this bending of the rules because of the Logos license. It must go to a person, and if the IRS were to audit the transaction, I think they would rule it non-conforming and still make you and the recipient pay any applicable taxes.

Posts 8893
fgh | Forum Activity | Replied: Thu, Mar 15 2012 1:02 PM

William Gabriel:
Since the Logos license must be held by an individual and not an organization, I don't think it's possible to donate it in a tax-deductible way.

It is my understanding that there is no problem with an organization as owner. It's the user that must be one person. Thus a church can own a copy for use by (for example) the current pastor. When he leaves, he deletes Logos from any private computer[s ], and the new pastor gets to use it instead. 

"The Christian way of life isn't so much an assignment to be performed, as a gift to be received."  Wilfrid Stinissen

Mac Pro OS 10.9.

Posts 570
Rev Chris | Forum Activity | Replied: Thu, Mar 15 2012 4:26 PM

fgh:

William Gabriel:
Since the Logos license must be held by an individual and not an organization, I don't think it's possible to donate it in a tax-deductible way.

It is my understanding that there is no problem with an organization as owner. It's the user that must be one person. Thus a church can own a copy for use by (for example) the current pastor. When he leaves, he deletes Logos from any private computer[s ], and the new pastor gets to use it instead. 

That's my understanding as well based on a previous forum discussion.  And I don't consider it a questionable tax strategy - it is a valuable product being donated to a charity that will directly benefit from the donation.  That's much more legitimate than many donations that get made for tax purposes.

On a related note, though, if the OP had children and decided to gift Logos to the children, it probably would trigger a tax event because it's over the $13,000 limit.

Pastor, seminary trustee, and app developer.  Check out my latest app for churches: The Church App

Posts 1649
Room4more | Forum Activity | Replied: Thu, Mar 15 2012 4:31 PM

Rev Chris:

[...]

On a related note, though, if the OP had children and decided to gift Logos to the children, it probably would trigger a tax event because it's over the $13,000 limit.

But would that not be disqualifiable since the estate would go directly to the children, and if so how is that a taxable event?

There would be no transfer of ownership/would there be?

DISCLAIMER: What you do on YOUR computer is your doing.

Posts 18712
Rosie Perera | Forum Activity | Replied: Thu, Mar 15 2012 4:33 PM

Room4more:
But would that not be disqualifiable since the estate would go directly to the children

I think he's not talking about inheritance anymore but gifting during one's lifetime. That's why it started out with "On a related note, though..."

Posts 570
Rev Chris | Forum Activity | Replied: Thu, Mar 15 2012 4:36 PM

Rosie Perera:

Room4more:
But would that not be disqualifiable since the estate would go directly to the children

I think he's not talking about inheritance anymore but gifting during one's lifetime. That's why it started out with "On a related note, though..."

Rosie is correct.  Sorry for the confusion!

Pastor, seminary trustee, and app developer.  Check out my latest app for churches: The Church App

Posts 242
ROGER JIMENEZ | Forum Activity | Replied: Fri, Mar 16 2012 10:10 AM

George Somsel:
Just keep using it after you die. 

Well, is what Rabbinic sages teaches. Big Smile

Posts 82
Joe | Forum Activity | Replied: Fri, Mar 16 2012 10:54 AM

Maybe Logos might consider allowing one Forum Thread specifically dedicated to the resale of Logos in the event of someone going to glory.  Selling on Ebay takes around 9% and then another 3% via PayPal credit card.  Maybe it might be "Logos after Glory".  Big Smile   Perhaps Logos might add an optional service for someone at a nominal charge (i.e. 2%-4%?) to help someone divide up the deceased owners resources and post?  Just thinking outside the box.....

Posts 8967
RIP
Matthew C Jones | Forum Activity | Replied: Fri, Mar 16 2012 11:47 AM

Just a couple things to consider:

  1. A regular Logos license does not expire and is transferable. Resource media is not necessarily going to be perpetually available on Logos servers. It is recommended to keep all install discs of older programs.
  2. A product purchased under academic license is "not transferable or giftable."
  3. Products purchased under a "Bundle" or "Collection" license can not be parcelled ot separability.

Depending on your local laws, transfers of Logos licenses upon death  may require a will or some prior legal paperwork. We need to have Logos clarify this. I wish we could designate a "beneficiary" and possibly a back-up. 

Logos 7 Collectors Edition

Posts 8893
fgh | Forum Activity | Replied: Fri, Mar 16 2012 12:16 PM

Joe:
Maybe Logos might consider allowing one Forum Thread specifically dedicated to the resale of Logos in the event of someone going to glory.  Selling on Ebay takes around 9% and then another 3% via PayPal credit card.

There is a forum member who has a personal website where you can put things up for sale. Or look for bargains. Not much activity, though.

"The Christian way of life isn't so much an assignment to be performed, as a gift to be received."  Wilfrid Stinissen

Mac Pro OS 10.9.

Posts 1857
David Thomas | Forum Activity | Replied: Fri, Mar 16 2012 2:15 PM

As someone who has inherited "dead tree" resources from previous generations of pastors, I am excited about the idea of blessing future generations of leaders with resources that have helped me. Assuming that the next generation of software developers will continue to write code that makes these resources usable, I would find a promising, emerging leader and GIFT my entire library.

Making Disciples!  Logos Ecosystem = Logos8 on Microsoft Surface Pro 4 (Win10), Android app on tablet, FSB on iPhone, [deprecated] Windows App, Proclaim, Faithlife.com, FaithlifeTV via Connect subscription.

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