When loved ones pass away, family members and estate trustees are often faced with sorting through and disposing of personal possessions stockpiled over a lifetime. Sometimes, it will be obvious that certain possessions hold monetary value, such as a painting from one of the Group of Seven. The local auction house will gladly sell such valuable pieces for you. Other times, though, less obvious things such as handwoven baskets can also fetch a handsome price. How does one know which personal items are valuable and which are not? Unfortunately, for 2010, the Antiques Roadshow will not be travelling to any Canadian cities.
Fortunately, there are many antiques experts who will assess and dispose of personal possessions. A recent article in the National Post newspaper highlighted the use of such antiques experts who will assess all of the contents of a decedent’s home, and then dispose of the goods through various channels such as estate sales and eBay. A Toronto-based company, EstateNet.ca, promises personalized services customized for each client. As noted on their website, they will examine every closet, drawer and storage space to clean, sort, identify and organize all personal items. They will research the market status of special items. Once the contents have been itemized, a pricing schedule is set. EstateNet uses a two-stage sales process: advance selling, followed by an on-site public sale. You can read more about the company, their services, and testimonials from happy customers on their website.
Bianca La Neve
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Listen to Administration of the Assets of the Estate
This week on Hull on Estates and Succession Planning, Ian and Suzana discuss things to consider when administrating the assets of an estate and point out burdens of being and executor.