Lidia Law Firm, P.C.
Estate Planning & Business Law

How do estate sales work, and why are they beneficial?

“One man’s trash is another man’s treasure,” as they say. While you might not consider your parents’ possessions trash, you also might not have room for them or they do not suit your own taste. If you inherited heirlooms and other possessions from your parents that you do not want to keep, there is a way to rehome these items that is respectful and can convert this inheritance to cash. You and other Oklahoma residents may be interested in learning about estate sales.

As HowStuffWorks explains, an estate sale is a step up from a yard or garage sale. Typically, estate sales are held after the owner of an estate passes away, and the beneficiaries would rather see the unwanted items go to good homes, rather than put them in storage or throw them away. Many people are attracted to estate sales, as you may know, because the items for sale can be valuable. For example, you might not be interested in keeping your mother’s designer clothing or your father’s model train collection, but someone else may be excited to acquire these things.

An estate sale agent or auctioneer would be responsible for setting up and pricing the items for sale, directing buyers through the event, managing the transactions and cleaning up. Because the agent receives a commission for the work, you can rest assured that the items will be priced favorably and your loved ones’ possessions treated with respect.

There are numerous steps to take after the death of a loved one. Therefore, this information should not replace the advice of a lawyer.

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