Anonymous
Post 09/10/2024 14:48     Subject: Re:Settling Estate

OP, lots of good advice here if you have siblings. My siblings were great and very understanding, but I also kept them apprised at every juncture. I’ve urged DH to do so now with his sibling as his parents turn to him to handle financial matters. Based on prior conversations, his sibling is expecting to make a major haul and has indicated to their parents what they want. I don’t think they expect to negotiate, discuss, or come to a consensus with DH, but simply march in and take what they want even if DH is handling everything.
Anonymous
Post 09/10/2024 10:24     Subject: Settling Estate

As Executor, you provide An Inventory to the court of all assets. It's one of the paperwork requirements. For household goods, it's not as daunting as it might sound. Provide a modest estimate (often 10K .. ). But as estimate has to be given to assure the monetary value of all assets totaled-up are divided appropriately among beneficiaries.

That's why whether or not there are other beneficiaries (siblings?) is such an important question. That, and potentially fighting over stuff because of sentimental reasons.

Imo paperwork is much more important. Stay on track with the paperwork. Not done according to a reasonable timeline will infuriate siblings. I think much more important than getting an extra hundred(s), even a thousand dollars for stuff sold.
Anonymous
Post 09/10/2024 08:39     Subject: Settling Estate

Staging as a consideration. Sometimes older people furnish in a style that no longer speaks to younger potential buyers. So staging rather than photos of how it was. I have heard of virtual staging, but know nothing.
Anonymous
Post 09/10/2024 08:08     Subject: Settling Estate

Anonymous wrote:Spolier alert: The "antiques" your parents have are virtually worthless and you will be likely paying a junk removal company to haul off all the stuff that does not move in an estate sale. It's hard to even find churches to take the stuff because so many people are doing the same thing. Younger people are not interested in 1980s and 90s furnishings.


This, unfortunately. Especially if they lived where there are a lot of older people, don’t expect much financially - even if your grandparents bought the pieces for a lot of money and you think they are priceless antiques.
Anonymous
Post 09/10/2024 07:48     Subject: Settling Estate

Spolier alert: The "antiques" your parents have are virtually worthless and you will be likely paying a junk removal company to haul off all the stuff that does not move in an estate sale. It's hard to even find churches to take the stuff because so many people are doing the same thing. Younger people are not interested in 1980s and 90s furnishings.
Anonymous
Post 09/07/2024 14:08     Subject: Settling Estate

Anonymous wrote:An estate sale takes up a lot of your time. I'd hire a service for the sale of items of any value, and general clearing-out of the house.

Do you have siblings?

Of course the first thing is meeting w/the representative of the court (as the Executor) to see that you're doing each step when you should.


Also, do you really have anything worth much-truly to the world not just what you think because you saw something similar on antique road show? Might be worth it to hire someone to sort what can be donated (and maybe get a tax deduction to offset estate taxes if that is allowed) and what needs be trashed. I know people who did auctions and estate sales for wealthy parents and felt in the end it was a waste of time and effort only to have siblings angry that it didn't raise more money. At least you can help someone needy with a donation and maybe get the benefit of paying less taxes as long as you don't over-value things (red flag for audit).
Anonymous
Post 09/06/2024 13:13     Subject: Settling Estate

An estate sale takes up a lot of your time. I'd hire a service for the sale of items of any value, and general clearing-out of the house.

Do you have siblings?

Of course the first thing is meeting w/the representative of the court (as the Executor) to see that you're doing each step when you should.
Anonymous
Post 09/06/2024 12:25     Subject: Settling Estate

I’m sorry for your loss, and I know how overwhelming this role can be.

If you need to step away for a few days, give yourself permission do it.
Anonymous
Post 09/06/2024 12:16     Subject: Settling Estate

Do you have any siblings? If so, are you on the same page and could they become troublemakers in the future or are they solid good people? If they are difficult people you may need to give weekly updates and have them email back to say they got the message and have no questions or concerns. Every bump you encounter include your own life crises will need to be reported to them and let them know you will not be working on the estate for x amount of time due to this. If willing, offer to sign over the reigns if this is a problem for them. You'd be surprised how even a sibling can have no empathy and decide that your husband's surgery and rehabilitation along with all your other responsibilities should not stop you from working on the estate for longer than a week or 2.

If your siblings are normal and decent people then just ask how often they want updates.

For the home it's worth the money loss to use a Realtor so nobody blames you if they thought it should have sold for far more. If it's high end, might be worth it to hire home-stagers to bring the right furniture and set up.

Make sure everyone is realistic about how little estate sales bring in.
Anonymous
Post 09/06/2024 10:29     Subject: Settling Estate

I'm sorry for your loss.

Depending upon the price point of the house I think that having the realtor bring in a professional photographer to take photos with the furniture in the house made a big difference to how the house looked on line.

Have low expectations for how much money you get for the furniture at the local estate auction. We got $750 for furniture sold at auction on the eastern shore of Maryland after we paid for haul off. This was from a 4500 sq foot house. Given the low amount of money made I would have simply given more away for free to our contractor and to our caregivers but at that time I was exhausted.

An estate attorney should be able to give you a list of tasks that you have to complete.
Anonymous
Post 09/06/2024 10:28     Subject: Re:Settling Estate

I bought a book. There are several on the market.
Anonymous
Post 09/06/2024 10:21     Subject: Settling Estate

I’m the executor for my parents’ estate and am in the process of cleaning out their out of state home and putting the house on the market. I’m having pictures taken of the property with the furniture inside the house to give sellers an idea for how my parents placed their furniture and to show the room size. My plan is to take a few items we want to keep (a few high end antiques) and then have an estate sale to dispose of the rest.

What tips do you have for settling an estate? I feel overwhelmed.