Truth About Legally Liquidating Your Stuff
We hope you were able to join us last month at the Senior Living Trust Series. August’s topic was about what to do with your stuff. We put together a quick report “Truth about legally liquidating your stuff”. To get your copy, just text STUFF to (405) 217-4209
We all collect items throughout our life. Some of it is good, and some we have no idea why we keep it around. Sometimes items just have significant sentimental value.
The problem is that our kids and family don’t always share that sentimental value. We see this a lot especially when a couple’s kids all live out of state. The kids don’t want to mess with their parents stuff when they live hundreds of miles away. We recently handled the guardianship of a lady here in Oklahoma City with 3 daughters. The daughters lived in California, Oregon and the nearest was in Texas. Their mother needed to be in assisted living, which meant cleaning out her house. Beside a few items that they picked out, none of the daughters wanted their mother’s stuff. Their mother had a Will downloaded off the Internet that was vague and did not fit her situation. She did not have any other documents that outlined her wishes while she was living.
If their mother had worked with an estate planning attorney, then she would most likely have had a plan in place with directions for her daughters. A properly executed Revocable Trust centered plan would have avoided a lot of problems for the mother and daughters. The mother could have appointed a Successor Trustee to handle her stuff and finances, and a Health Care agent to make medical decisions according to the mother’s wishes. Instead, the daughters had to go through the expense and emotional stress of a guardianship.