Use labeled boxes or designated areas to avoid confusion.
Example: Dividing an Antique Collection
A deceased parent’s antique firearm collection was appraised to determine its total value. Siblings used a coin flip to decide the order of selection, picking items until each received a share equal to the appraised value. Though the number of items varied, fairness was maintained by focusing on equal monetary value. For disputes that cannot be resolved amicably, consider involving a mediator. A mediator can facilitate negotiations, ensuring all parties feel heard and reach a fair resolution.
Step 2: Sell Valuable Items and Distribute Proceeds Equally
When valuable items or properties are involved, selling them and dividing the proceeds can be an equitable solution. Key considerations include: • Real Estate: If inheriting a home, decide whether to sell it and share the proceeds, rent it out, or buy out other heirs’ interests. Consult real estate professionals for guidance. • Appraisals: Hire professionals to appraise valuable items such as jewelry, antiques, and collectibles. This establishes a fair market value for division or sale. • Estate Sales: Organize an estate sale to clear out items. Advertise through local and online platforms, price items clearly, and ensure compliance with local regulations, such as obtaining necessary permits. Tips for a Successful Estate Sale: • Clearly mark prices and provide directions to the sale. • Consider offering discounts on the final day to clear inventory. • For unsold items, hire an estate liquidation company to 13
Powered by FlippingBook