Settling an Estate

Dear Lee,

My mailbox is filled with emails asking what to do when faced with the problems of settling the estate of a collector. The more collections, the more problems. The same problems are faced when grandma moves into a nursing home after selling her house or even when a senior moves to a new far away city. I wrote the story of my problems disposing of antiques and collectibles in Ralph’s offices and even his cars and clothes that were at home. I had a specialist sell the vintage car and do the paperwork. (Luckily I found the title and other paperwork in Ralph’s office). I contacted a local shop to sell small items on consignment. I gave boxes of toys and signs stored at his office warehouse to the public television auction. His cufflinks and Indian jewelry to a regional auction house that had yearly sales of men’s jewelry, another auction house that specialized in prints and works by local artists, and gave a lot to a charity thrift shop. Details of how and why are in Kovels’ A Diary: How to Settle a Collector’s Estate (visit our online store). The report includes a free up-to-date supplement that gives online sources for experts who can help. Unless you are an experienced antiquer don’t do it alone, get experts to help. Often friends who also collect can help. Check references for everyone and every business you plan to use especially those that offer to empty the house for a flat price.

I learned that estates can lead to family arguments so decide how to divide things before you start. (I give some suggestions). Take the time to look for labels and do some research online. If you have a house sale don’t go to it. If you send things to auction you probably shouldn’t be there in person. It is too full of memories. Expect to get a lot more or a lot less than you expect for some things. Most men’s clothes won’t sell but women’s clothes, especially purses do well at consignment shops and auctions. Times have changed and sets of dishes, plated silver, brown furniture from Chippendale to Mission, pianos and fancy glassware sets are very hard to sell. But garden statues and furniture, old toys, and costume jewelry sell for more than they used to.

But the most neglected part is the none-object problems. What do you do about frequent flier miles. I asked before I closed the accounts. American Express would only transfer the miles if I had a platinum Am Ex account so I opened one. Some cards would not transfer miles so I spent what I could on gift cards then gave the rest to a charity.

I moved all the green plants to the house, “traded” the estate for a few pieces of office furniture and sent a big TV set to a nursing home. Now I am trying to figure out how to make an estate less of a problem for my children.