The Estate Lady
Julie Hall is an expert in dealing with personal property from the Depression era. Estate dissolution and helping grieving families make appropriate decisions during the estate settlement process are her specialties. She is a certified personal property appraiser, an estate sales professional, a residential content removal specialist, and a broker of fine items. As owner of The Estate Lady®, LLC, she brings 18 years of experience to families facing the overwhelming task of dissolving the family home.
Three More Important Tips for Personal Property
Understand the distinction between monetary value and sentimental value
We’re continuing our discussion of important tips for dealing with personal property in an estate. Here are the final three tips:
3. Just because it’s old doesn’t mean it’s valuable. This is my personal mantra. Each day, I must face clients and report the truth based on facts. Depression glass may have been the rage 12 years ago, but today the market is pretty flat, much like the beloved Hummel figurines of mother’s day. It’s important to understand the distinction between monetary and sentimental value. If great-grandfather made it in 1865, it is certainly old and very special to us. This, however, does not indicate or equate to significant monetary value. It does hold value in the heart, though.
4. PLEASE hire a professional before you have a yard sale on your own. In my career, I have seen things thrown in the trash or in dumpsters, sold at yard sales, etc., that children put there or sold for next to nothing. In actuality, they were worth a small fortune! Knowledge really is power. Parents, consider getting your heirlooms evaluated before your passing, so you can leave this information for your heirs. Children, ask questions about the history of these heirlooms while Mom and Dad can still tell you. Discuss together the possibility of gifting prior to death. At the very least, Mom and Dad should document who gets what.
5. When using professionals in the industry, check them out first. Make sure they have no unresolved complaints against them with the Better Business Bureau. Ask them for professional references, and ask how long they have been doing this work. Ask your friends, neighbors, and other professionals if they can recommend estate professional appraisers and liquidators. Be very leery of those who “dabble” in estate sales or yard sales. You need a pro. If you think hiring a professional is expensive, you should try hiring an amateur.
By Julie Hall
The Estate Lady Blog
[First posted July 5, 2010, at Julie Hall's Estate Lady Web site.]
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