When Sharon called me, she sounded desperate. Her aunt had recently died and Sharon had been assigned to be her aunt’s estate executor. As a certified public accountant, Sharon was well equipped to deal with her aunt’s finances. However, when Sharon walked into her aunt’s house her initial confidence turned to despair; she had no idea how to evaluate or dispose of her aunt’s personal property.
Sharon’s fears are shared by non-professional estate executors everywhere. Walking into a decedent’s house for the first time, an executor has no idea what’s valuable, what’s junk, which relative is going to want what memorabilia, or how they’re going to get the house empty and prepared for sale. Personal property is the “800 pound gorilla” of an estate. Sorting through an estate’s personal property can be a stressful undertaking for someone new to the job. Dealing with personal property issues consumes most of an executor’s time and causes most of the aggravation.
When approached in an organized fashion and with the right mindset, estate liquidation can proceed smoothly and without stress. Let me offer 10 tips for staying sane and on track when it becomes your turn to supervise estate liquidation. Read More
Originally posted 2013-12-12 13:38:00.