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Julie Ph.D. Hall. How to Divide Your Family's Estate and Heirlooms Peacefully & Sensibly
About the Author
Introduction
Section I. Getting Started: Principles for Dividing Your Parents’ Estate. KNOWLEDGE IS POWER AND PEACE OF MIND
The Decedent has the First Right to Speak
Get the Facts & Documentation. Protect All Assets
Important Principles to Guide You:
Section II. To Heir is Human; To Know Your Role is Priceless
Your Rights and Responsibilities as an Heir
Your Responsibilities
Every Heir Should DO the Following:
Every Heir Should NOT DO the Following:
Section III. The Role of the Executor: Don’t Execute the Executor. THE ROLE OF THE EXECUTOR
THE RESPONSIBILITIES OF THE EXECUTOR
PROTECT THE ESTATE
PREPARE THE ESTATE
LEGAL HIGHLIGHTS FOR EXECUTORS
Section IV. What’s it Worth? Values and Expectations. SENTIMENTAL VALUE
MONETARY VALUE
FACTORS THAT AFFECT MONETARY VALUE
The Law of Supply and Demand
SETTING EXPECTATIONS
The Fable of the Frog and Scorpion. Author unknown. One day, a scorpion looked around at the mountain where he lived and decided that he wanted a change. So he set out on a journey through the forests and hills. He climbed over rocks and under vines and kept going until he reached a river. The river was wide and swift, and the scorpion stopped to reconsider the situation. He couldn't see any way across. So he ran upriver and then checked downriver, all the while thinking that he might have to turn back. Suddenly, he saw a frog sitting in the rushes by the bank of the stream on the other side of the river. He decided to ask the frog for help getting across the stream "Hello-o-o Mr. Frog!" called the scorpion across the water, "Would you be so kind as to give me a ride on your back across the river?" "Well now, Mr. Scorpion! How do I know that if I try to help you, you won’t try to kill me?" asked the frog hesitantly "Because," the scorpion replied, "If I try to kill you, then I would die too, for you see, I cannot swim!" Now this seemed to make sense to the frog. But he asked. "What about when I get close to the bank? You could still try to kill me and get back to the shore!" "This is true," agreed the scorpion, "But then I wouldn't be able to get to the other side of the river!" "Alright then...how do I know you won’t just wait till we get to the other side and THEN kill me?" said the frog "Ah-h-h...," crooned the scorpion, "Because you see, once you've taken me to the other side of this river, I will be so grateful for your help, that it would hardly be fair to reward you with death, now would it?!" So the frog agreed to take the scorpion across the river. He swam over to the bank and settled himself near the mud to pick up his passenger. The scorpion crawled onto the frog's back, his sharp claws pricking into the frog's soft hide, and the frog slid into the river. The muddy water swirled around them, but the frog stayed near the surface so the scorpion would not drown. He kicked strongly through the first half of the stream, his flippers paddling wildly against the current. Halfway across the river, the frog suddenly felt a sharp sting in his back and, out of the corner of his eye, saw the scorpion remove his stinger from the frog's back. A deadening numbness began to creep into his limbs "You fool!" croaked the frog, "Now we shall both die! Why on earth did you do that?" The scorpion shrugged. "I could not help myself. It is my nature." Then they both sank into the muddy waters of the swiftly flowing river. Moral of the story: In almost every estate, you may uncover scorpion-like behavior in a family member, friend, or neighbor. Watch your back and be prepared
WHAT TO DO FIRST
Section V. Tools to Minimize Family Fighting
WHAT TO DO IF FIGHTING BREAKS OUT
THE MANY FACES THAT EMERGE WHEN THE DIVIDING BEGINS
Section VI. How to Divide the Estate With the Family Intact. PREPARE FOR THIS DAY
HIRE PROFESSIONAL ASSISTANCE
SETTING THE STAGE FOR THE DAY OF DIVISION
THE IMPORTANCE OF ORGANIZING, CLEANING, AND FINDING EVERYTHING
Section VII. The Top 12 Practical Problems and Solutions
PROBLEM # 6: When one person wants the lion's share
PROBLEM #10: When extended family gets in the way
Section VIII. Gifting: How to Avoid Distribution Problems Before Death
Section IX. Family Challenges and Solutions
Children Who Were Caregivers
The Only Child
No Children
In-Laws (or Outlaws?)
Unscrupulous Heirs
Estranged Heirs
Section X. Conclusion: Looking Forward
Section XI. Helpful Resource Links
Section XII. Worksheets and Forms. Sample Letter from Executor to Heirs. Wish List Spreadsheet (Example) Wish List Spreadsheet (Blank)
Отрывок из книги
Julie Hall, author of The Boomer Burden, Dealing With Your Parent’s Lifetime Accumulation of Stuff, and A Boomer's Guide To Cleaning Out Your Parents' Estate in 30 Days or Less, is an estate expert that specializes in personal property. As owner and operator of The Estate Lady®, LLC, which offers turnkey estate dissolution services, she brings eighteen years of experience to families facing the overwhelming task of sorting through and emptying their parents’ home. Her expertise is called upon for consulting, conducting on-site estate sales, appraising personal property, and organizing the removal and disposal of contents in the most appropriate way.
In addition to her responsibilities as The Estate Lady®, Julie’s passion for helping as many distressed families as possible deal with the challenges of estate dissolution inspired her to take ownership of the American Society of Estate Liquidators® (ASEL) in 2007. As director of ASEL, her vision is to dedicate the organization to being an educational and referral resource to estate liquidation professionals nationwide. Today, ASEL offers educational courses, resources, products, and support to industry professionals and those interested in becoming estate liquidators.
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•Do create wish lists of items you would like to have, with the understanding that there are no guarantees what you will ultimately receive, unless it was bequeathed to you.
•Do be prepared that tensions will be high and the environment will be uncomfortable due to the mixture of personalities and hidden agendas. True colors and fangs will be revealed during this process, so don’t be surprised when this occurs.
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