Call Us to Schedule a Consultation
480 West Lovell Street, Kalamazoo, MI 49007
Serving Clients throughout
Southwest Michigan in Matters of
Elder Law, Probate Administration,
Wills & Trusts

Recent Blog Posts


Putting a Value on Your Possessions

Posted 7 years 24 days ago ago by Danielle Streed

When it comes to assets, we tend to focus on cash or real estate and we lose sight of the fact that personal property can be a valuable asset as well.  We recently heard about a situation in California where a woman gave away her deceased husband’s old Apple computer. She later learned that it had a value of over $200,000.00.  Many family members are collectors and have been collecting for a very long time.  The younger generation who is in line to inherit these assets are not familiar with the value and possibly even view these items of personal property as garage sale junk.  Items of personal property are placed in estate and garage sales only to be purchased by experienced buyers and sold at a much higher price online or to other collectors.  It is important that you take the time to either make a list of those items that have a significant value or that you sit down with your administrator and go over what items are of value and should not be tossed or treated as insignificant.  It is also important that you provide your administrator with as many resources as you can as to how to sell these items or how to have them appraised.

Attorney Advertising. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

©2022. Web Design by WowWebWorks. Terms Of Use | Privacy Statement