Treasure Hunting at Home

November 16, 2009 | Julie Hall

It’s true that one man’s trash is another man’s treasure! In my line of work, I spend my days deciphering what has value in estates, what is to be sent to donation, and what has no value. Not long ago, I was asked to go through a home to evaluate its contents. Many of the items were not in the best shape due to mold and mildew. Many items were from the turn of the 20th century or before, and many of these had value.

Imagine the surprise when I found two old pottery vases in the basement that turned out to be a fantastic treasure! When I mentioned to the executor that the vases had value, he was very surprised. “They were headed for donation drop off because they are ugly,” he said.

This wonderful story is a glowing example that an appraiser cannot possibly know everything, but will use the knowledge he or she has to further investigate. As it turned out after further research, the pieces were considerably more value than even the fine arts gallery realized. One vase ended up selling for $57,500 because it possessed the marks of a very rare artist. The second piece sold for $4,000. Not a bad return on investment for a one hour visit from an estate expert.

In this case, it was a very happy ending for all the beneficiaries. This follows the good and solid advice that you should know what you have before you sell or donate anything, even if it appears to be junk in your eyes. Especially when dissolving the estate of a loved one, many things are sold or thrown out in haste to simply “get rid of them”.

Knowing the value of what you have in your home will empower you against those that aim to exploit you, and they are everywhere. Offer your children or heirs a clear understanding, so these heirlooms will not be sold at a garage sale one day for $1.00. I can’t tell you how many fabulous items are sold at garage sales for pennies on the dollar.

In this case, an ounce of prevention really paid off for this family!

How did I get into this line of work?

September 28, 2009 | Julie Hall

You may be wondering how I got into this line of work. It happened innocently enough and turned into a real eye-opener!

Receiving a phone call from someone in crisis is common at my office, but when the phone rang one afternoon, and it was a colleague claiming an emergency, I knew the matter was very urgent.

My colleague said one of his clients, who was preparing to move to a safe environment for those afflicted with Alzheimer’s, was at home alone when her neighbors — so-called friends — and a few antique dealers all decided to pay her a visit on the same afternoon. (Word spreads like wildfire any time an older adult begins downsizing an estate, and I caution you to pay close attention to this story so you can protect your loved ones!)

This elderly woman’s home was filled with many valuable possessions. Apparently several people came by to “purchase” all of her assets. My colleague had tried to get the dealers out of the house, but no one took him seriously. Knowing that I deal with this sort of thing daily, he asked me to intervene quickly, even though I had never met this woman.

These neighbors and friends and dealers were literally stripping her home of her lifelong heirlooms, possessions that were supposed to be passed down to her children after her death. Her children would never see those heirlooms again. The neighbors and friends helped themselves, throwing a $1 or $5 bill at her for items worth thousands of dollars. Sadly, they preyed upon her much like a vulture stripping a bone. In her advanced diseased state, she simply didn’t know any better. But they did!

How I wished the family would have known to expect exploitation in times of fragility! This story is one I see frequently. One day, I had had enough and decided to write a book to assist the boomer children, and the elderly parents navigate the final chapter of their lives.

www.TheBoomerBurden.com

Seniors, their children, stuff, and grief

September 14, 2009 | Julie Hall

In my work of helping seniors appraise the worth of their personal property, or liquidating it, I have seen examples of unsavory human behavior during the process. This comes from family, friends, neighbors, or strangers.

In dealing with a lifetime accumulation of stuff, seniors are often at a vulnerable place in their lives and daunted by the task. That’s when predators appear, driven by insensitive greed and persuasive powers. These unscrupulous mischief makers could be stopped in their tracks if only the senior had the knowledge of how much their personal property was worth. They should also proactively create a master list of what they perceive to be treasures – either sentimental or financial.

When seniors have avoided making these choices by doing nothing for their estate planning and distribution, they are actually making a decision with dire consequences. I always recommend that seniors distribute their treasures personally now, or in writing for distribution at death. When the gift is personally made, however, they have the satisfaction of seeing the joy on the face of the recipient!

If a personal transaction is not done, then the next best thing is to write down who gets what on a master list. This master list should be kept safely with the will. Both documents will almost always minimize family disputes and exploitation.

Problems generate when the children or close relatives are burdened with dealing with the death of the senior, the pressure of dealing with the estate, and the overwhelming task of disposing of the personal property. Seniors who recognize their own responsibility in this matter and make the decisions themselves are practicing the best defense against family quarrels or exploitation in any guise!

Who is the Estate Lady?

September 8, 2009 | Julie Hall

The Estate Lady is a fitting name for my company. I am the company — a mixture of compassionate advocate, honest rescuer, detailed organizer, wise advisor, certified expert in personal property worth, and observer of human behavior.

I’ve always treasured older adults! Unfortunately, I’ve witnessed many situations when seniors are blatently taken advantage of, when it comes to both their money and their personal belongings. That’s why I paired my love of appraising personal property with dismantling households and channeling accumulated life treasures into the most appropriate way to benefit their owners.

It doesn’t take seniors or their children long to discover that I know what I am doing. My hallmark is trustworthy counsel and behavior in appraising and handling their personal property. My clients — professionals representing seniors such as attorneys, financial advisors, accountants, and bank trust officers, children of older adults, or seniors themselves — discover that my name and my company have built a reputation of honesty and compassion in providing comprehensive personal property services. My point of difference in this industry is that I do a total turnkey in personal property appraisal and liquidation, wiht a host of certifications that reinforce a strict code of ethics and knowledge in all my dealings.

My work is physically exhausting and sometimes sad or dangerous when liquidating and conducting estate sales. It is detailed and precise in appraisal reporting. But, it is always filled with passion and a sense of purpose in helping older adults. I see the most remarkable human behavior, and often the worst behavior, in my line of work!