In an estate sale personal property in an estate is sold off at auction. These sales are becoming increasingly popular in the United States. There are a couple of groups of people who can take advantage of this trend.
Often when people inherit an estate it comes with lots of tangible personal property that has little sentimental value. It is just a lot of stuff that has to be dealt with.
Instead of keeping it or throwing it away, more and more people are holding estate sales.
The New York Times recently published an article titled “Managing Estate Sales Becomes Big Business” which documents this interesting trend.
Obviously, estate administrators and those who inherit estates can take advantage of an estate sale to get rid of estate property that is not wanted. However, elderly people can take advantage of this trend as well.
If a couple is looking to retire either to another state or a retirement home, they can sell their estate before it becomes an estate. The proceeds of the estate sale can be used for living expenses or even made a part of an estate plan. It becomes a way of disposing of your estate before your heirs have to do it.
Of course, you may not want to include all of your possessions in an estate sale. Valuable heirlooms and other items of value should be handled differently in your estate plan.
An estate sale is just one way of helping to manage things. It is not a substitute for a complete estate plan and, for that, you should engage the services of an experienced estate planning attorney.
Reference: New York Times (March 11, 2015) “Managing Estate Sales Becomes Big Business.“
I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.
The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!
Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.
Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!
I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!