Many elderly people who live in large homes need to move to something smaller. The larger homes are more difficult to maintain and they often require navigating too many stairs.
As part of this downsizing process, the elderly need to get rid of many of their possessions, since their new homes do not have the capacity to hold everything. One way this can be done is to let children and grandchildren come over and take the items they want.
However, elderly people who do that often find that their younger relatives do not want or cannot take very much, since their own homes are already filled or they just have different tastes than their elders.
The New York Times reported on this problem in "Aging Parents with Lots of Stuff, and Children Who Don't Want It."
One solution to this problem is to contact an estate sale company to auction off unwanted items.
Nevertheless, some people on fixed incomes might find that option unaffordable, since many estate sale agents charge high hourly fees and fixed fees from the sale in the thousands of dollars range.
Another potential solution is to donate unwanted possessions to charity.
More and more people are using this option.
It can even come with the benefit of a tax deduction for those elderly people who itemize their deductions.
If you are considering downsizing to a smaller home and need help finding an estate sale company or reputable charity in your community, then you might consider calling your local elder center.
Remember: “An ounce of prevention is worth a pound of cure.” When making your estate plans or when probating an estate or administering a trust, do not go it alone. Be sure to engage a Cincinnati estate planning attorney.
For more information about estate planning, probate or trust administration in Cincinnati (and throughout the rest of Southwest Ohio) and to review free resources regarding estate planning, probate or trust administration, visit my website. If you have questions regarding this article or a particular legal matter, feel free to contact me at 513-399-PLAN (7526).
Reference: New York Times (August 18, 2017) "Aging Parents with Lots of Stuff, and Children Who Don't Want It."https://www.davidlefton.com