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Thursday, March 7, 2013

"Whoops" doesn't cut it when estate value is not accurate

Today I'm sharing a cautionary tale from John Sewell, an art and antique appraiser, who recently posted an article on In the article, Mr. Sewell talks about a few cases in which household items that didn't seem like much turned out to be very valuable items. This really could happen to any one of us who acts as an executor. Click here to read the article.

The reason it's so important for executors to value estate items properly is that executors can be held personally liable for losses to an estate. This means that if you, as an executor, sell an item for peanuts and it then sells to someone else for thousands of dollars, you might have to come up with those thousands yourself to make it up to the estate. So please check out this article!

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