Personal Property Portfolio
In addition to conducting Estate Sales, we also offer a Personal Property Portfolio service. This consist of providing a detailed inventory of personal property for estate planning purposes, probate, bankruptcy, divorce and many other circumstances. With this unique service, we are able to come in as an unbiased third party to document and place a Fair Market Value on contents. We provide a detailed report and inventory of items, as well as a personalized viewable report online including detailed photos and research information.
Estate Documentation:
We can create a permanent record of your heirlooms and other valuable personal property, including a provenance of items. This can be priceless for your family and heirs and extremely beneficial if they decide to pass items on to their own heirs at a later time.
Estate Inventory and Valuation:
A Personal Property Portfolio allows you to establish a value of your personal property. This is an important tool in Estate Planning. We can create a separate list of items that you wish to pass on to family, friends or charities upon your passing. This can be very helpful in providing a custom report to your attorney or inclusion in your Last Will and Testament.
Personal Property Portfolio's are based on a flat fee determined by the amount of contents and size of home to be documented. As with all of our services, we are happy to provide a no cost initial consultation to discuss your specific needs.
Estate Documentation:
We can create a permanent record of your heirlooms and other valuable personal property, including a provenance of items. This can be priceless for your family and heirs and extremely beneficial if they decide to pass items on to their own heirs at a later time.
Estate Inventory and Valuation:
A Personal Property Portfolio allows you to establish a value of your personal property. This is an important tool in Estate Planning. We can create a separate list of items that you wish to pass on to family, friends or charities upon your passing. This can be very helpful in providing a custom report to your attorney or inclusion in your Last Will and Testament.
Personal Property Portfolio's are based on a flat fee determined by the amount of contents and size of home to be documented. As with all of our services, we are happy to provide a no cost initial consultation to discuss your specific needs.
The following article and resources are made available by and courtesy of Marlene S. Stum, Extension Specialist and Professor — Family Social Science and the University of Minnesota - We are pleased to be able to offer the Workbook included with this program to our clients, more information can be found in our Resources.
Who Get Grandma's Pie Plate?™Inheriting Memories Marlene S. Stum, Extension Specialist and Professor — Family Social Science
Reviewed February 2012 by the author.
Almost everyone has personal belongings such as wedding photographs, a baseball glove, or a yellow pie plate that contain meaning for them and for other members of their family. What we've learned by listening to families and attorneys is that often the non-titled personal property that creates the greatest challenges for families when estates are divided — not the money. When doing estate planning, families too often talk about the house or the investments; but they forget to plan ahead or discuss personal possessions. Do you know what items have special meaning or value in your family and why? Do you know how to get started to communicate and plan ahead?
What's Unique About Personal Possessions and Inheritance?The sentimental meaning attached to personal possessions can make decisions more emotional. For example:
For more information, see Resources for Families.
"Just before Anna Krueger was about to enter a nursing home at the age of 85, she held a family gathering to discuss who should get her personal belongings. With each of her four children gathered, Anna shared family history and stories that went with the important possessions in her life, wishes were expressed, and decisions made. When Anna died six months later, her children not only held onto her possessions, but they also cherished the stories of her life. By making inheritance decisions ahead of time, Anna also prevented disagreements about who should receive what items."
Who Get Grandma's Pie Plate?™Inheriting Memories Marlene S. Stum, Extension Specialist and Professor — Family Social Science
Reviewed February 2012 by the author.
Almost everyone has personal belongings such as wedding photographs, a baseball glove, or a yellow pie plate that contain meaning for them and for other members of their family. What we've learned by listening to families and attorneys is that often the non-titled personal property that creates the greatest challenges for families when estates are divided — not the money. When doing estate planning, families too often talk about the house or the investments; but they forget to plan ahead or discuss personal possessions. Do you know what items have special meaning or value in your family and why? Do you know how to get started to communicate and plan ahead?
What's Unique About Personal Possessions and Inheritance?The sentimental meaning attached to personal possessions can make decisions more emotional. For example:
- Objects can involve the process of grieving and saying goodbye.
- Objects can be used to preserve memories, family history, and family rituals. (The Who Gets Grandma's Yellow Pie Plate?™ Workbook resource, Worksheet 7: Use Your Belongings as Props for Telling Family Stories (71 K PDF), can help you share your memories, history and rituals.)
- Personal belongings will have different value and meaning to each individual.
- It is difficult to measure the worth or value of personal property.
- It can be impossible to divide items equally.
For more information, see Resources for Families.
"Just before Anna Krueger was about to enter a nursing home at the age of 85, she held a family gathering to discuss who should get her personal belongings. With each of her four children gathered, Anna shared family history and stories that went with the important possessions in her life, wishes were expressed, and decisions made. When Anna died six months later, her children not only held onto her possessions, but they also cherished the stories of her life. By making inheritance decisions ahead of time, Anna also prevented disagreements about who should receive what items."
