Estate Sale Advise / Comments / Experiences

[mjkaliszak]

I was responsible for the tools & garage. I broke down, couldn't part with all the stuff so I packed my 3 place trailer full and own it now ???? An example would be 25-30 files to add to my 50 files .... LOL ! What can I say ? We cleaned out many " original ' boxes of appliances and generally de cluttered the house for the Open House. I still don't know what to do, a lot of those items I used on cars & sleds when I was young. I now own 2 Ariens, 2 Scroll saws, 2 power washers, ect..... Most stuff has little value, working class people do not have items of great value. Such is life.
Most of my material items that used to mean so much to me now mean very little. Time ( family time ) is what I'm short on.

 

[m8man]

I would see if a "sole benefit" trust is available in your parents state.. It can be utilized when the time comes for a nursing home if needed. The beauty of it is you don't have to create one until one spouse ends up needing the care. You DO need to have both spouses living when it is created tho. They are expensive to set up at about $10K but that's only 1.5 months or nursing home charges.

good luck

m8man

 

[mjkaliszak]

Thanks to all for the responses. We will put the new house in all our names when the time comes. Very interesting comments and information.

 

[chords]

For what its worth and if I am reading that right,, it would be a bad idea to put their new home or any home or property into ALL your names. That opens the door to them possibly losing control. Divorce, someone being sued, and the house is up for grabs or a portion $$ of it. Could create a nightmare.

 

[snow_monkey]

Wow, I dread the day I will have to do that and it is not far off. Actually had a meeting with the folks today on such matter. Wading through the tons of things maybe overwelming. Get an estate appraisor in there and they will let you know best route. Ebay will bring you more than an estate sale if you got the time to deal with it. Depends on the "stuff", sometimes a dumpster is the way to go.
Snow Monkey can you please add to this.

Big stuff is hard to judge and hard to sell. Do a quick walk through and determine items that may have significant value. Estate bandits make out on your lack of knowledge. Silly paintings a small sculpture they picked up in Europe 60 years ago can end up drawing more than you think. The smalls you can take with you once you decide things of value. Clocks, art work, stamps and coins are easy money. Pianos organs are in the toilet but can be sold on the open market. It helps to slow the process down a little to give you and your family time to sort out and do research. Check e-bay completed sales to find what stuff was sold for on the site. A call to a local antique shop or antique furniture shop can prove to be very helpful. A quick search of the home then jump on the net. You can send me a p.m. if you have other questions. I was just at a garage sale on the weekend and saw a couple selling a sewing machine far below it's possible value. He called me today when he sold it for two hundred dollars more and I now have a steak dinner waiting. Good luck

 

[xcr440]

For what its worth and if I am reading that right,, it would be a bad idea to put their new home or any home or property into ALL your names. That opens the door to them possibly losing control. Divorce, someone being sued, and the house is up for grabs or a portion $$ of it. Could create a nightmare.

Nope, you write it up, so that NO spouse is part the situation, only the specific family members designated have any claim to the "Trust", before, during, and after any member separation from the trust.

 

[mjkaliszak]

Ok , I did take control of all items yesterday. told MOM there is not going to be an estate sale. I did slow things down, alot of people looking to capitalize on things like this. We will ( brother , sister, parents ) will consult a lawyer regarding the " trust ". Will need more investigation into that .

Very Grateful
MJ