Considerations for Managing a Loved One’s Estate

By Mindy Applebaum

The clearing of a loved one’s estate is often a dreaded, emotionally charged necessity that may be required with very little notice. It is something that many adult children don’t think about or plan for in advance. By following the next few steps, the estate clearing process can be less expensive, less time consuming and a lot more organized.

What Roles Loved Ones Should Play

Not every family member needs to be involved in every estate related decision. This leads to confusion and delays in decision making on trivial matters. Consider having one family member as the point person to work with the building’s concierge or property manager, another working with the realtor, and someone else in charge of organizing friends and family to come look through the contents and choose what they want to keep. Another person can keep track of the finances and estate related expenses. Evaluate who has which strengths and divide and conquer. Do not keep score of who is contributing more or less than the others in helping with the estate. Different family members will have different availability as well as different emotional capacity in terms of their ability to manage this difficult process and it is not for others to judge them or harbour resentment.

Consider the Fees Involved

There are several costs that will pop up during the estate clearing process. Aside from lawyer fees and fees associated with listing and selling a property, you can also expect to spend on packing materials like boxes, bubble wrap and tape that will be needed to pack up all the contents of the home. Consider buying supplies in bulk, or picking up boxes for free at the grocery store or LCBO. You can also check Facebook for people offering to give away their recently used moving boxes. Should you wish to donate some of the furniture and housewares you can expect to be charged a pickup fee. Although some donation centres offer tax receipts for the fair market value of the items being donated, very few will send professional movers and a truck to pickup donation items at no charge. Should you wish to have some of the furniture or housewares delivered to relatives or friends you will incur moving costs, as well. The home will also need to be thoroughly cleaned and possibly staged before it is listed for sale. With a little budgeting ahead of time and a little research, these costs can be minimized.

Sell Unwanted Furniture

One option for raising money to help pay for the estate clearing is to sell the unwanted furniture. There are a few options available to you that are worth exploring: Content Sales, Consignment Stores, Auctions, or selling on Social Media by way of Kijiji and Facebook. Each method will present its own set of unique advantages and disadvantages. If you need assistance, an estate clearing expert can assess your circumstances and recommend which method(s) will work best for you.

Hire the Experts

Thankfully there are companies that specialize in estate clearing as well as all other types of move management and downsizing. With a goal of saving you time and money, and helping you with the difficult decisions that lie ahead, consider hiring a third-party move management company. They have the experience, resources and compassion needed to navigate such a difficult undertaking. Never underestimate the value of having an objective person lend a hand who can see beyond the emotional connection to the estate’s contents. Move managers offer you practical advice to help meet your goal of clearing the estate and will save you time and money along the way.

Mindy Applebaum is the founder of Luxury Move Management. For more information, visit luxurymovemanagement.com.