What are the common mistakes that Baby Boomers make when it comes to their estate? Estate appraisers discuss the mistakes here:
- Not Sharing Important Documents And Information With Family Members Prior To Death
Many Baby Boomers are still avoiding the uncomfortable topic of what happens after they pass away. The majority of the people who lived through the Great Depression tend to keep silent about personal topics such as:
- Their finances and final wishes,
- What they want to happen with their heirlooms after they die,
- Where their Last Will and other legal documents are stored or kept in safe keeping, and
- The passwords to everything from their email inboxes to a household safe.
- Not Thinning Out Their Belongings As They Age
Hoarding aside, many people of the Baby Boomer generation struggle to let go of things they have accumulated over the years. This becomes a problem if they pass away without having a list of their valuables for loved ones to sort through. Not only will a list of their valuables enable their children to divide the estate equitably, but it ensures that everyone knows which antiques, heirlooms, and other valuable items reside in their home. Things like antique furniture, antique books, antique china, antique pottery, and all other types of antiques can be very valuable. So, it is important for others to know the true value of these items (or at least that it is, in fact, ‘special’). That will allow them to treat the items appropriately and to make the necessary arrangements so that it can be sold accordingly or assigned as part of the estate.
- Not Gifting Items While Still Alive
To avoid fights between the Baby Boomer’s children after the passing of a parent, they should gift items while still alive. This can prevent the sad and unwanted situation where children fight over items during an already tough emotional time.
- Not Hiring Professionals
A professional antique appraiser and an estate appraiser can offer everything from full or partial broom-swept clean outs and the private sale of a few items to full content liquidation services. An experienced estate appraiser can help you understand the timelines involved in the process and make sure you are able to sell items for what it is worth. With extensive knowledge of antique furniture, antiques, china, glassware, and collectibles, estate appraisers can ensure that estate sales will realize its full value potential.
Need a professional estate appraiser? Then contact Jerry’s Antiques and Estate Sales today. We provide the utmost in professional estate liquidation and estate sale services in the Tri-State area.