Your Money: February

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Estate Liquidation

The Power of Wills

By Patricia Kutza

The timing is never right: Your mother dies or your spouse files for divorce. No matter how much you may plan for these events, the shock and grief makes the myriad details related to dissolving property seem even more overwhelming. 
    Zero planning, however, multiplies that stress. It’s an unfortunate situation that both Kellaine Byrd and Yvonne Reed faced in recent years when their loved ones passed on without giving any advance directives about the distribution of their estates. Working against a very short deadline after her sister’s death, Byrd felt that dealing with her limited resources while managing her mental stress reduced her ability to make sound decisions.
    Some guidance would have made a world of difference: “I would not have quickly disposed of many of the items. I may have opted instead to donate or liquidate her belongings.”
    Carmichael-based Sabbadini Appraisal Services’ personal property appraiser Mandy Sabbadini says Byrd could have liquidated her sister’s property by using the services of an auction house. This type of company typically uses state liquidators to orchestrate estate sales where the property is boxed, advertised and then sold to the public.
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