If you were liquidating a relatives estate and found an item that was very valuable. Would you hold on to it for sentimental value, or sell it to make a quick buck?
by 
Scooter
ANSWERS: 10
-
Wow, depends on your current need. IF you are in debit, it better to sell it and not be in debt. If your not the item might grow in value better than stocks and bonds.
-
Often times the items with "sentimental" value have little real value at all... like Gramma's cast-iron frying pans, which have been "perfectly seasoned" for over 100 years... or Grampa's Boy Scout uniform from his childhood. If you're talking things of real monetary value... like jewelry... frankly I couldn't care less about jewelry, except perhaps wedding rings... which don't fetch much on the resale market anyway...
-
What is the item, what is its sentimental value, what is its history, what is its market value, and what can be obtained with the money? Most of the items that have the most sentimental value to me have no value to anyone else. If there is an heirloom that has been in the family for generations, I'm keeping it unless someone alive has a very dire financial need (medical or such). It depends mostly on the situation, the item, etc.
-
My Grandmother and Mother spent a great deal of time collecting the furniture they had in their homes, and they loved it. Some of it was from my great-grandfather. It has now found a home in my home. It is not my style, or taste, AT ALL, but I would never get rid of it.
-
Depends which relative, my Mom or Dad I would keep it.
-
Keep it. I am at the moment trying to hand over my Mother in Laws Estate, but one particular item my husband insisted that i keep because the people that I would be handing it to would just sell it for the money. Probate takes so long it is taking up my life when I just want to get away.
-
Keep it...you can always change your mind later and sell it...but I don' think you would ever regret keeping it.
-
I would definitely keep it if it belonged to a close relative (mother, father, grandparents, siblings or a relative I was close to). No question. It if belonged to a long lost relative who, for some reason, included me in the inheritance, I might (note: MIGHT) sell it. But a lot would depend on the object itself.
-
It depends on the relative and the item. Being very valuable doesn't make it more or less sentimental, I have saved things worth nothing and I have things worth a great deal, both saved simply for the memories. However, if an item has no sentimental value to me, I will sell it or throw it away because I dislike clutter.
-
If you're liquidating the estate, that means you're selling items that belonged to the person. Why would the "valuable" items be exempt and automatically pose a dilemma because of their value? Why wouldn't you hold on to inexpensive items for sentimental value? (If you had such an odd philosophy then you'd only sell the stuff that's not worth taking the time to sell? The question requires flawed assumptions to make any kind of sense.)
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC