Possession Estate Planning for the Future
Had a lovely time earlier this week with residents of Village at the Park in Newtown, presenting various approaches and the benefits of decluttering. Also discussed what to consider when possession estate planning for the future.
How did we get so much stuff that we need to estate plan for its future distribution?
One answer is that with so many retailers operating on high-volume, low cost business models – we now own too many things. We’re encouraged to buy “while stock lasts”, “two for the price of one” and to “get a bargain”. Sales are every other week and no longer just post Christmas or end of a season.
Another reason is that grown children want to accumulate their own possessions and may in fact already have more than they need. They are not as interested in inheriting the dinner sets, heavy furniture and collectables of their parents and grandparents.
‘Over-owning’ is one of the main reasons so many home garages are now storage areas, with cars parked on the street. We’ve also experienced a huge influx in the number of charity shops. When it comes to discarding possessions, our rubbish dumps are filling up much quicker than predicted.
Why estate plan?
In your retirement years, estate possession planning ahead for the distribution or re-homing of items will ensure that your treasures have new owners who appreciate them. Your family and friends will understand what you would like to happen after you are gone, or in the event that your living circumstances need to change unexpectedly. I encourage you to start considering this while you have the luxury of time. Get the ‘elephant out of the room’ and have those all-important family discussions. Develop a plan for the future which includes your possessions. You may find that you share some of the wonderful memories evoked by your treasures. Ultimately what you will gain, is peace of mind and you will be helping eliminate stress created by uncertainty for your family.
Here are a few quick tips to consider when estate planning for the future of your possessions:
If you need help with possession estate planning, clearing or decluttering, we are here to help.
Read about Village at the Park, with their ‘Attitude of Living Well’: