Your kids don't want your stuff
Estate appraiser
"And I said, 'Out of this whole house? Honey, we have nice things!'" says Hall, author of several books, including "How to
Ultimately, though, as she prepares the
Hall says she's grateful for her daughter's honesty.
"I can't be mad at her because she spoke her truth," says Hall, a widow in her 50s. "And she's given me permission to let go of whatever else I don't want."
An avalanche of stuff
Baby boomers are famously poised to pass trillions of dollars to their heirs in coming decades, but most of the money will pass from wealthy parents to their already well-off kids. The inheritance many people face is quite different: an avalanche of unwanted china, unfashionable furniture and memorabilia that reflects someone else's memories.
Younger people understandably dread the task of sorting through a parent's lifetime accumulation. But many parents still cling to the idea that their kids will change their minds, or their grandkids will want this stuff someday.
"Sure, and I'll be a size 4 again," Hall says. "Not going to happen."
The reality is that lifestyles have changed. Younger people typically don't have the time or the inclination to polish silver, hand-wash china or iron linens. They often don't want heavy, dark wood furniture -- and neither do buyers, apparently, as values for old furniture have plunged.
Your stuff isn't worth as much as you think
Appraiser
"It was an incredible piece. Twenty years ago that thing would have been worth
Regular, mass-produced furniture is typically worth much less than that, even if it's well built and in good condition, Hall says. She's seen entire dining room sets from the 1940s sell for less than
"Can you imagine a millennial with a china hutch?" Hall asks.
Ask your kids what they want -- and believe them
Of course, there probably is a hutch-loving millennial out there, as well as adult children who would be happy to receive porcelain figurines, a souvenir spoon collection or photo albums full of people they don't know. Parents should ask what their kids want, Hall says, but it's important to listen to their answers.
"No means no," Hall says. "And if you assert a 'yes' into that 'no,' then that's your wishful thinking, but it becomes a burden for your children down the line."
People who have items their kids don't want can check with extended family members before deciding whether to sell or donate -- assuming a charity will even want them.
"Some people actually end up breaking (pieces of furniture) down and dumping them because nobody wants the big pieces," Hall says.
The potential value of possessions can be researched by checking the "sold" listings on eBay or other auction sites. Another option is to hire a personal property appraiser. Hall suggests getting referrals from an estate planning attorney, and expecting to spend
Hall has one last suggestion: Don't put this off. The older people get, the harder it can become to clear the clutter.
"They're putting stuff up in the attic when they're 45, and then they wake up and they're 85 and they can't get it down," Hall says. "The thinning-out process should happen sooner rather than later."
This column was provided to The Associated Press by the personal finance website
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