Look at it from the other direction... if you died wearing your pride and joy would you want it cremated with you or passed on to be enjoyed by someone else as much as you did? I know which I would I would prefer.
Slightly off the topic (but not really) a friend of mine who worked in the A&E of a local hospital told me she once had to bag up the watch and other effects of a patient who had died in, I think, a motorcycle accident. The watch was in a zippo seal type bag of its own and completely caked in blood to the point where it was stuck the bag and you couldn't even see what it was... the man's daughter told her to throw it all - keys, wallet, watch etc. - in to the burn bin, and so it was done.
A few days later the man's son turned up looking for his dad's vintage something-or-other watch that was worth many thousands of pounds and proceeded to kick-off when told it had probably already been incinerated, or was at the bottom of 40 tonnes of clinical waste awaiting that fate. Luckily hospitals have Forms which protect them from being sued in such circumstances!