by David MacMahan
Few things are more overwhelming, or more emotionally challenging for heirs than the “stuff” left behind; especially in overstuffed garages and storage units.
Today, nearly all of us have been trapped in our homes by Covid for nearly a year, with at least several months ahead of us looking similar. Do you have clients over sixty, have a will or trust set up, and feeling OK about how they will be leaving their family to deal with the estate? Awesome! Now do they have a garage, attic or self-storage unit, with things not seen or thought about in months or years? These represent an amazing gifting opportunity, and useful task during COVID.
Can you imagine how overwhelming the duties will be for their beloved executor trying to let heirs know what personal property is available to divide, sell or donate? They can’t all meet at the house like in earlier times. The tangible assets, aka personal property, furniture, art, jewelry, sentimental items are usually the most difficult and contentious part of an estate to divide. The practical challenges alone of letting all heirs know what is there, getting it listed, sometimes valued are huge. Then how does one go about dividing peacefully? Worst of all, they have typically never done it before, so it is all completely overwhelming.