On Selling Childhood Homes and Sorting Family Memories
When you are left the asset of a property (or two or three, for that matter), figuring out what to do is daunting - almost always. Navigating the complexities inherent in these transactions has become a specialty for me. I enjoy being in the middle of these situations—good or bad—because they demand a high degree of professionalism and leadership. I view myself as a clear thinker in the midst of a lot of difficulty and chaos. Clients deserve honest conversations about difficult things delivered with empathy. That’s not easily accomplished. If you find yourself an heir to an estate, and there is a home to be sold, here are three fundamental areas to think about:
1. The Right Attorney: Estates can have very specific legal time constraints. It’s best to engage with the estate attorney, who made advanced preparations, to fully understand what you need to do regarding the settling of the estate. Follow the estate attorney’s recommendations on how to proceed.
2. Timing: Making decisions while grieving is often so difficult. To the extent you can, take time to find people you trust to help you. Get strong referrals - especially in these circumstances. Let them help and guide you. I received a phone call yesterday from a prospective client who said - “this all seems so impossible”. Yes, it can be overwhelming but when you have a pro - not a dabbler - it can be well organized and run very systematically.
3. Boxes, Bins, and Memories: There is no getting around sifting through years, even decades, of stuff. You can be in control of WHEN sifting happens, though. In the best case, in more stable times, prepare in advance. Take the chance, over several years even, to tackle the attic, the basement and the garage. Make the most out of this - finding your 3rd-grade report card with your mom looking over your shoulder is likely a great moment for both of you.
To sum up: seek to understand your role, take your time to craft a good plan with trusted partners, sift in less stressful and emotional times.
