Estate Inventory Question

[pburchett]

What is the name of your state? KY

I am the Administrator of my parent’s estate (probated) and in the process of performing an inventory.

What do I do about what-knots, knick-knacks, figurines, dishes, cookware, linens,… Do I just list them as assorted what-knots, knick-knacks, figurines, dishes, cookware, linens, or is there a better way?

What do I do with the junk, broken down chairs, worn-out screw drivers and hand tools, and the such… Items that should have been thrown away a long time ago. Do I just need to have someone come in and haul off the junk if they will take it for free or for a small removal fee? Will I need a receipt for anything thrown away or hauled off for free?

 

[BlondiePB]

What do I do about what-knots, knick-knacks, figurines, dishes, cookware, linens,… Do I just list them as assorted what-knots, knick-knacks, figurines, dishes, cookware, linens, or is there a better way?

Yes, there is a better way. Call an estate/auction liquidator who will come to the home, appraise household belongings, and take what you want to have auctioned away. You will be provided a written appraisal of everything that has value. Submit a copy of the appraisal to probate court. Jewelry needs to be appraised too. Find someone that does this by the hour not the piece.

What do I do with the junk, broken down chairs, worn-out screw drivers and hand tools, and the such… Items that should have been thrown away a long time ago. Do I just need to have someone come in and haul off the junk if they will take it for free or for a small removal fee? Will I need a receipt for anything thrown away or hauled off for free

Anything that has no appraised value can be thrown away. Should there be things that can be donated to Goodwill, do so, get a receipt, and use the donation as a tax deduction. Appraisal and any other expense to haul away things are paid by the estate.

 

[nextwife]

I agree. Estate sale companies will inventory, "market" and price appropriately anything that has any value. They take a percentage, so they have an incentive to get the max possible. Amazing how those dollars for odds and ends add up- books, records, junk in garages, junk in basements, furnishings, towels & bedding, dishes, gadgets, clothes, tools, knick-knacks, art, etc. They will bring in a small crew and deal with everything in the household.