Timing is Everything When Downsizing

July 31, 2017 | Julie Hall

Sometimes the mind and the heart are simply not in sync, especially when it comes to the daunting task of downsizing. It seems the older we get, the harder the process of downsizing can be on us, as we have grown accustomed and comfortable in our surroundings. This includes the endless bric-a-brac, books, paper items, glassware and all the miscellaneous things in closets which seem to multiply when we’re not looking. We just keep buying, collecting and “stuffing.”

Procrastination or dragging our feet is a very human characteristic, but it is not at all helpful when many decisions need to be made and there is much to do. Hence, a blog about “timing.”

When it comes to downsizing, an up-close and realistic look at all we own is needed (no rose colored glasses here). Having a plan in place is necessary to ensure we remain on schedule and accomplish the items on the to-do list. Sticking to that plan is paramount for a smooth move and our sanity.

Sadly, what we experts see are distorted expectations, both in our client’s time frames as well as their possessions. They believe they can:

Empty a home,
Make all necessary decisions,
Get professionals lined up and organized,
Move and get settled in to their new place within a few short weeks.

They have forgotten they have been living in a home for 50 years and have large accumulations of items that need to be carefully sorted, distributed, sold, donated, discarded, etc. This does not happen in the blink of an eye.

We need to take into consideration:

The Timing to sort through and select what will be kept.
The Timing for family to come get what they would like to keep (set a deadline).
The Timing for an estate sale or partial sale.
The Timing for donation and finding the right charity to come pick up.
The Timing for a hauler or junk man.
The Timing for a handyman or other contractors to do their work.
The Timing when getting rugs cleaned or house painted.
The Timing to secure your valuables such as personal documents, jewelry, silver, etc.
The Timing for your own doctor’s appointments, meetings, etc.

None of these things should interfere with downsizing professionals or estate sale professionals, as they have a huge job to do and the proper space/time should be given to them so a good job is done for all.

There is a time for everything, and the time has come to part with possessions no longer used, needed or you know will not be claimed by loved ones. One cannot take a dining room table that sits 8 into a one bedroom assisted living apartment. That just doesn’t make good sense anyway you look at it. How miserable our clients are when they take too much, or furniture that is of a large scale going into a small residence!

For years I have seen clients struggle to: 1) make the decision to downsize and then 2) take the steps necessary to put this plan into action.

Even if you are just thinking about downsizing now, reach out to those who can help you begin the process. It is worth the extra time, money and effort to ensure the next move goes as smoothly as it can.

©2017 The Estate Lady® Julie Hall, The Estate Lady®, is a national expert in dealing with personal property in estates, including liquidating, advising, and appraising. http://www.TheEstateLady.com She is also the Director of American Society of Estate Liquidators®, the national educational and resource organization for estate liquidation. http://www.aselonline.com.
No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at julie@theestatelady.com.

Estate Experts Can Find Value In Places You Didn’t Even Think About

July 6, 2017July 6, 2017 | Julie Hall

Note the word “Expert” in the title. Hiring an expert will help you identify what you have in an estate, how to sell it, who are the best resources for selling and most of all, how to maximize what you have. Experts have trained eyes and detective noses that can uncover and discover what has value.

It’s Always Better To Be Safe Than Sorry

I was recently hired to consult on several estates which I will describe as modest. The furnishings were from the 1980’s and not of much value. The adult children were convinced there was nothing of value in the home and at first glance, I would have to agree. However, the daughter mentioned in passing that her parents were world travelers and never spent much money on household furnishings so they could travel.

World travelers for 60 years. Visions of far-away places. A light bulb went off in my head.

“Did your mom have any jewelry, silver, coins, etc.?” The daughter disappeared for a few minutes and brought back a huge box of jewelry and coins. She simply said, “ It’s all junkie stuff she bought in different countries.” I sat down at the table, a lamp near my head, my jeweler’s loupe and my jeweler’s scale.

Within 20 minutes, I felt like I found a small gold mine, literally.
I found more value in the jewelry in front of me than in the entire
rest of the house put together.

Much of the “junkie jewelry” turned out to be genuine gold from Asia, India and the Middle East. I was able to quickly identify other genuine antique gold and silver pieces that belonged to previous generations and offer them a time period and values so they understood what they had before making any decisions.

You see, in all the little nooks and crannies of these estates we do find treasures. You just have to know where to look and understand what it is you’ve found. This is one very important reason why you should always find out what you have before making any decisions with it, including giving it away or tossing it.

A second important reason is there are people out there who will attempt to take advantage of you. To avoid this, hire a professional who is honest and ethical and can either sell these items for you or find the right buyers who will pay well for your gold or silver. Don’t give it away or just sell it to any jewelry store on the corner. First, know what you have.

Sometimes the most value can be found in the little forgotten things you don’t give much thought to. Take it from one who knows.

It is a wonderful feeling when I get to deliver the news “It’s real and has value.” My clients light up and now have peace of mind knowing they did the right thing in hiring an expert. Seek out experts in your area, so you too can have peace of mind.

The Mysterious Case of the Antique Monogrammed Silver

April 19, 2017 | Julie Hall

An uncountable amount of antique monogrammed silver pieces have crossed my path in the last 25 years. Most of my clients have one thing in common; they do not know who the relatives were that owned the antique silver based on the monograms or how that silver came to be in their family.

When items of perceived value are passed down, it helps to know the name of the relative it came from, the time period it came from and the value so you can pass this along to your family members.

There’s only one problem with this…most of us don’t have that information.

Many of my clients cannot identify their long-ago relative or match that relative to the antique monograms on the assortment of silver they inherited. They just know it was “always in mom’s home.” Sometimes, their mother’s don’t even know where it came from or mom has passed away and that information is now lost. Often I will hear a client say, “I have no idea who ‘CHR’ was.” As an appraiser, I can help them identify the age of the silver and who manufactured it, but not who owned it.

It is not unusual for my clients to actively begin searching their genealogy tree or get connected with Ancestry.com, but the answer to the silver monogram mystery is rarely found there.

Perhaps it came from a relative by marriage that no one can recall, or two best girlfriends that exchanged their monogrammed silver spoons with each other as a symbol of their forever friendship.

This was common practice back in their era to offer a beautiful gift that the recipient would always cherish. In these two cases, the silver trickled down to my clients, never to be identified. Sometimes when I hold these spoons or serving pieces, I too, wonder who “Lilly” or “ADM” were and imagine the time period in which they lived. But the image in my mind is only speculation of the young women who once owned these pieces.

In many cases, there may only be a few odd, antique silver teaspoons that do not have much value. My Boomer clients say, “If it is not from a relative, or I didn’t know the relative, I really have no attachment to it” and the antique silver is generally sold to someone who will have more of a desire for it. These days, even if they do know the relative, many will opt to sell it because we no longer live in a formal society.

From pre-Victorian times to Edwardian, to Art Nouveau, to Art Deco, sterling silver has been considered a very important possession every young woman should have. As such, it was highly revered. Through the decades (or century), these sets have been divided among other relatives or friends that came long before you.

Will the mystery ever be solved? One never knows but if you have an imagination like me, you will conjure an image of an elegant young woman in a long, white linen dress who truly treasured her silver back in the day.

©2017 The Estate Lady ® No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at julie@theestatelady.com. Julie Hall, The Estate Lady®, is a nationally known expert on personal property in estates, including liquidating, advising/consulting, and appraising. http://www.TheEstateLady.com She is also the Director of American Society of Estate Liquidators®, the national educational and resource organization for estate liquidation. http://www.aselonline.com.

10 Estate Behavior Commands

March 8, 2016 | Julie Hall

With great reverence for God’s 10 commandments, here are the basic rules which should be followed in any and every estate situation. Often, we aren’t thinking clearly in the middle of the estate settlement and distribution process.

While there are no laws that pertain to human behavior when handling an estate and the distribution of property, these commandments should be “etched in stone” to remind us how we should behave.

Thou shalt not worship material possessions. They can be a monkey on your back and, ultimately, you can’t take them with you.
Greed and the love of possessions can be false idols which can, and often do, ruin families.
Don’t forget to take Sabbath for yourself. We all need time and space to breathe and reflect.
Honor your loved one that just passed away. Take actions that would respect them and make them proud.
Thou shalt not kill thy family relationships by destroying your chance to find peaceful resolutions. Mend your fences.
Do not cheat anyone, including yourself, in the estate distribution process.
Thou shalt not steal anything, even if you think no one is watching. Someone is always watching.
Thou shalt not throw thy sibling(s) under the bus. What goes around often comes around.
Thou shalt not covet anything a sibling gets. It’s not worth it; let it go.
Stay true to who you are and walk as straight a path as possible. Not only is immediate family watching, but your children and grandchildren as well. Set an excellent example.

Julie Hall, The Estate Lady®, is the foremost national expert on personal property in estates, including liquidating, advising, and appraising. http://www.TheEstateLady.com She is also the Director of American Society of Estate Liquidators®, the national educational and resource organization for estate liquidation. http://www.aselonline.com.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

Perils of Preposterous Pricing, Part 2

January 28, 2016 | Julie Hall

Older “die-hard” collectors are passing away and selling their massive collections all at once. So who is going to buy all these items? Some will be sold to today’s collectors, though far fewer in number than serious collectors years ago. Hence, these collections are saturating the market, driving prices and values lower. Too much supply, not enough demand.

Let’s return to the seller wanting to sell items they believe are valuable just because mom paid a fortune for them. They believe what they have is special and unique. Most of the time, figurines, china, collector’s plates, glassware, Victorian furniture and the like have saturated the market because millions of our moms and dads are passing away. Boomers are downsizing. Generation X and Y don’t want these items. Millennials are into themselves, not material possessions. These younger generations collect virtually, not materially.

When an heir is looking to sell Lenox, Waterford, Hummel, Franklin Mint, Depression glass, antique furniture, large wardrobes, entertainment centers, and china hutches, the estate experts only have to show how very flooded the market is to get the consumers to understand that these items are now worth very little.

When I look on Ebay and see a “sterling silver lot of 50 grams,” I wonder why on earth one would attempt to sell it for $200 when it would barely get $30 with the current spot price of silver, unless it was a unique designer piece or desirable manufacturer. Asking outrageous prices for items that are clearly not worth it any longer will backfire on the seller.

It is what it is. No expert, myself included, can alter these trends of simplification, downsizing, and squeezing more bang out of a buyer’s buck than we already do. The market is speaking and we need to listen.

Another issue? Many people with a smart phone in their hand believe they are an expert. I can assure you they are not. They just Google over-inflated prices, unless they are wanting to buy. If they are buyers, they search for the lowest possible prices in hopes of getting an item at a small cost. These issues are just the tip of the iceberg for what experts are dealing with as they handle personal property while managing clients’ expectations.

It takes an expert many years to understand trends, observe patterns, know how to maximize value, and offer the best value for the client. Do-it-yourselfers often do themselves a disservice by not enlisting the assistance of a professional who is experienced in all of the above.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

Perils of Preposterous Pricing, Part 1

January 18, 2016 | Julie Hall

Where do people come up with these prices and values? Understanding the difference between what was paid for an item and what you can sell the item for in today’s market is like the difference between buying a new car and selling it used. Depreciation has taken place in most cases. Much has changed in the secondary marketplace. Sellers must realize that there must first be someone who wants the item (demand) in order for it to have and hold value.

People still call my office to inform me of what their items are worth, even though they are hiring me to find out. I don’t normally mind when they say they already know the value because they “found it on the internet.”. Many of them have it wrong or have searched incorrectly. They see an “asking” price – a ridiculously high dollar figure that came from someone else’s head – which is now stuck in their head. They would like to believe and hope that this is the value.

The responsibility for sharing valuation knowledge with clients falls to all estate experts. We have to help clients set reasonable expectations. Some people will heed what we have to say, while others will continue to believe that if it was valuable in 1982, it must be more valuable today. These individuals are in for a rude awakening, resulting in anger and frustration which they will probably take out on the individual selling their items for them.

Who comes up with values? Ultimately, it used to fall on the serious collectors who set trends and values. Marketability and collect-ability are somewhat related. If an item belongs to a category of objects that people desire and collect, then logically that item’s value increases. However, we need to consider that the current market is fairly saturated with many of the collectibles that were highly sought after 20, 30, 40+ years ago, back when our parents’ generation paid top dollar for them.

Older “die-hard” collectors are passing away and selling their massive collections all at once. We’ll look at how this complicates the market and depresses the values next week in “Perils of Preposterous Pricing, Part 2”.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

Just in Time for Christmas

December 4, 2015 | Julie Hall

You know how passionate I am about helping people deal with their stuff or a family member’s estate. If you’ve read this blog for any length of time, you have seen me talk about tips, options, and solutions based on decades of experience.

I decided to take my best knowledge and pack it all into a new book, “What am I Going to Do With All My STUFF?” This book gives you step-by-step direction and best practices for the downsizing process.

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When you have no idea where to begin, I give you the resources and brain of an expert, including the pros and cons of each possible option, for making solid decisions when it is time to simplify or downsize your personal property.

Based on 25 years of my experience and insider know-how, this book will give you all the following:

Where do you begin?
Understand value and the characteristics of value
How to thin out the house one room at a time
Determine your options for selling: Pros and Cons
Handle large collections and items of value
Determine what to keep, sell, donate and discard
Overcome potential obstacles and factors that hinder the process
Find professional help you can trust
Avoid the mistakes people make
Make peace with letting go

It’s available online at Amazon.com in e-book and paperback formats. Here’s a quick link to the e-book: E-book purchase

Here’s what one reviewer says about the book:

Overall, if you are facing the task of cleaning out a deceased loved one’s home or are simply trying to downsize the clutter you have in your home, this is definitely the book for you. Ms. Hall is very clear and concise with her suggestions and methods, and in the end, you will feel accomplished and at peace with a job well done.

Here are another reviewer’s observations:

Though Hall notes that the target audience of this book are baby boomers, I feel that adults of all ages will benefit. She gives you a plan on how and where to start the process of shedding material possessions.

I am writing this review on Black Friday as the media keeps telling us to buy more “stuff”. Instead I’ll remember Julie Hall’s advice, “Give to those who are really in need. That item that you ‘might need one day’ is needed every day by someone else.”

Actually What Am I Going To Do With All My STUFF? will make the prefect gift for the holidays. I think my husband, mom, kids (who are in their 20’s), and many friends will benefit from this book.

I am passionate about educating people, so I’m proud to present this project to you, my readers. Best regards as you let go and simplify your stuff. Here’s to a 2016 with less clutter and more calm!

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

Nostalgia is Not Hereditary

November 6, 2015 | Julie Hall

Why on earth do we hold on to so much stuff that we never use or even want? That is the million dollar question! As time goes on, I see more and more people holding on to items from estates, that they don’t really need, and truth be told, don’t really want either.

It is natural to have emotional attachments to objects in grandmother’s home, our own parents’ home, or to anyone dear to us who has passed away. These emotions can be deeply anchored to memories of cherished people, places, and special times; it becomes a priority to preserve these memories after they go.

Sometimes, we can go overboard and start keeping things for ourselves, our kids and grandchildren, who may not be interested in them at all.

If you only take one thing away from today’s blog, let it be this:

Emotional attachment does not guarantee a transference of emotion from one generation to the next generation. The relationship between a grandmother and grandchild is different than that of a mother and child, and so on. Each subsequent generation will most likely not feel the same emotional tug that you might. It is important to realize this and to accept it.

When you do not accept this and you continue to hold onto things that take up a great deal of space, and don’t mean much to the children or heirs, you become a storage facility for your family. In addition, a new and unpleasant situation will arise where the next generation (the one that doesn’t desire these items to begin with) must now bear the burden of dealing with the stuff after we leave this earth.

I can virtually guarantee they will not care for these items the way you do, and often are upset and resentful when having to sell or discard them. When this happens, hasty decisions are made to “just get rid of it.”

Choose only your favorite things and let the rest go.

Future generations will be most appreciative.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

A New Take on “Taking”

October 23, 2015 | Julie Hall

Tips for Letting Go When Handling an Estate

There’s nothing simple or easy about letting go, especially when you are handling the estate of a loved one. People have the tendency to keep too much from the estate. They often find comfort in the things and the memories attached to them.

Being able to let go:

brings closure and peace of mind
minimizes family and marital strife
prevents future worries when your children are burdened with the same stuff
help avoid storage costs
prevents cluttering your own home

When you keep too much:

You realize you no longer need what you kept.
Your own home becomes overwhelmed with stuff.
Storage costs far outweigh the value of what is stored.
Your kids and grandkids don’t want what you selected to keep for them.
You may experience guilt. “Mom would be so upset if I sold that.” or “Mom said it was valuable so I should keep it.” Escort guilt to the door. Life is hard enough without the burden of needless guilt.

What do YOU want?

It’s perfectly acceptable to let go of possessions, especially if you don’t absolutely cherish them. If no one in the family wants the items, have an estate sale professional sell to those who will cherish them like mom and dad did. Unfortunately, families rarely get to see how happy new buyers are when they find these items. I’d much rather have someone who can appreciate the items, than to keep them stuffed in boxes taking up space in my home … unappreciated.

TIPS

Don’t keep items just because. Ask yourself if you really need it and have a purpose for it.
Record a video of the estate as it was when your loved one lived there.
Photographs are a great idea to preserve the memories without hanging on to the stuff.
Give to those less fortunate. Maybe your loved one had a favorite charity. Even if you have an estate sale, arrange for the estate sale professional to donate the items that do not sell.
Be honest and realistic. Will you really use this item? Why are you keeping it?
Set healthy boundaries and realize that space is a limiting factor.
If the estate needs to pay off debt, take as little as possible, so the remainder can be sold by a professional and proceeds applied to the debt.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

“Help, I’m Lost!”

October 16, 2015 | Julie Hall

You have come to the inevitable crossroads of making difficult decisions about assisted living or long-term care for your loved one, and the emotional pressure and exhaustion are enormous. The pressure rests on you to find the best resources to help and carry out a smooth transition. You are also tending to a myriad of daily needs, like phone calls, medicine, doctor’s appointments, dealing with family members, and much more. No wonder you have a tendency to lose yourself, or at least, feel lost. You may even feel at the brink of snapping emotionally.

Even if your loved one refuses to go along with the best possible choices you make, you have to make the best choice for them and then live with that choice. Often, guilt accompanies your decisions, no matter how much effort and love you put in to the process. Then, family members will have differing opinions, which further adds to the stress, confusion, and frustration.

If your loved one has died, leaving you to handle their estate, you enter what many of my clients call “Prozac time.” Though they say that with a bit of humor, their body language confirms the truth they feel. They walk into the family home for the first time and their brain betrays them with a whirlwind of thoughts.

Where do I begin? There’s so much stuff!
What was she thinking by keeping all this stuff?
What do we do with it all?
Is there anything of real value here?
Will we argue over it all?
Should we sell, donate, keep?
What if I just move it to storage and deal with it later?

This is just the tip of the iceberg. There are answers to all these questions and solutions for you by hiring the right professionals in the estate industry. Make sure all the professionals you think about hiring have appropriate experience, credentials, and training to give the best possible assistance to your family. These professionals are valuable resources who can relieve so much concern and solve so many problems.

Exercise caution if you find someone who “dabbles” in estate sales or any other occupation. They may appear “more cost-effective” but in the end, you will pay a heavy price.

Dabbling is dangerous! You need a PRO!

Get the best professionals and the process will flow smoothly. You may be tempted to “do it yourself” but these experts can solve more issues effectively because they have the resources and experience that you don’t have. Be sure to ask questions, and seek out the few professionals that you trust. The really good ones are worth their weight in gold!

Take comfort in the fact that this is a season of your life which will get better. Keep your sights on the positive end result. Be sure to ask for help from close friends, trusted siblings, and counselors to keep you emotionally on track and healthy. Don’t forget to take care of yourself too.

To locate an estate sales professional in your area, go to www.ASELonline.com and click on the top tab “For Consumers.” You’ll find a searchable database of professionals, and many other resources to help you.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.