Many wills and trust documents describe in general terms dividing things fairly. Unfortunately, there is commonly insufficient guidance for HOW to make all of that happen, so most work fall on the executor to decide. This is stressful, and differing expectations among the heirs often can create resentments.
A list of estate items, preferably with photos, is usually needed to be sure everything is included and that each person gets a fair chance at the items they prefer, whether awarding items is done in person or some other way. Spreadsheets or simple lists are often created, ...BUT..., creating a process from scratch that divides estate assets can be problematic.
There is an easier way.
In a nutshell: The administrator of the estate signs up for the free software, creates the family account, enters the photos and data, (or hires someone to do it), and everyone can participate as they see fit, regardless of location.
(A link to sign up for this software is provided near the bottom of this web page.)
(NOTE: Flathead Probate Concierge can freely help you set up your account if needed.)
Executors of estates have a challenging, often overwhelming, and rarely adequately appreciated job. Making things worse, they almost never have any previous experience doing it.
Getting things wrong or missing a key detail while dividing tangible personal property (furniture, jewelry, art, etc.) can create resentments and riffs in families that never heal.
A short list of decisions usually needed:
A. Process - What process will be used to divide things, and what things are to be included?
B. Packing and Shipping Costs - Who pays packing and shipping to each heir?
C. Does everything need a dollar value on it, or no values are to be used, or maybe only items above $500?
D. Sets or Smaller Groups - Do things like big formal china sets go as one item, or maybe get divided into three or more usable, but partial sets? Are kitchen items, clothing, small collectibles, listed item by item or in usable sub-groups?
E. Listing vs. Donating vs. Garage Sale vs. Dump: – It is easy to get rushed and start getting rid of things one personally wouldn’t want, but other heirs might, like old kitchen items, Dad’s ties, a small dinner bell, children’s books, etc. Rather than making these hard decisions, stuff often gets put into storage for a later date. But that often delays settling the estate indefinitely.
Feeling overwhelmed?
We suggest that the administrator of the estate sign up for the free personal property distribution software. Then everyone can participate as they see fit. (At a later date, if you find the estate assets or family dynamics are complex, you may choose to upgrade the software to take advantage of its advanced disbursement features.)
Details about the software, instructional videos, how to sign up, and upgrade options can be found at the software company website.
Just click on this link, or copy and paste it into your browser: https://www.fairsplit.com/?ref=193
(We can freely help you sign up if need be.)
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