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Monday, September 17, 2018

For executors: Older toys with high values

I often remind executors that they must be careful when cleaning out the contents of a house during the administration of an estate. In particular, there is a risk that an executor will let items go for less than they are worth. If the item was expensive, the beneficiaries can hold the executor responsible for the loss to the estate and - by extension - to them.

Executors, like most of us, might look at an old pile of toys and household objects that haven't been used in years and think that there is no value to outdated items. Unlike the rest of us, the executor has an obligation to get as much money as  he or she can for those items. To assist with that, I'm attaching a link to an article about older toys that now can be sold for many times their original value. Click here to read it. Most of the toys mentioned are from the 1980s but some date back much further.

An executor's job isn't easy, especially when you can get into trouble for something like selling an old Hot Wheels car. Whether you're holding a garage sale or listing things on e-Bay, take your time and find out all you can about anything that seems "vintage".

Photo credit: Pinterest

1 comment:

  1. Lynne

    Another good reason to avoid being an Executor. Some Estates can be complicated. Run. (I am holding back)

    Webeye

    ReplyDelete

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