What Families Should Know About: Asset Management

 Posted by Caring Transitions on March 31, 2015 at 4:33 PM

What Families Should Know About: Asset Management

Few if any home transitions occur without changing the volume of personal possessions, or personal assets. Moving to a larger house typically triggers an increase in personal property and moving to a smaller one typically generates a decrease.

Increasing the quantity of personal possessions is fairly simple and “shopping” is the usual solution. Downsizing, or decreasing property, can be a bit more challenging. Today there are many options for reducing the volume of one’s tangible assets. Families may opt for a garage sale, tag sale, yard sale, estate sale, auction, online auction, whole house liquidation, junk removal, charitable donation or they may choose to give items as gifts or inheritances.

Based on national experience, Caring Transitions® knows it is important for families to take the time to evaluate their goals when downsizing and decluttering. It is also critical to hire the most vetted and qualified resources who understand and are sensitive to sentimental attachments, schedules and budgets. There are a number of liquidation options and one may in fact be better than another, depending on the value of inventory to be sold, personal timetables, a pending home sale or any number of other factors. In addition, the liquidation industry is not well regulated and families who hire unreliable resources or those who don’t understand the financial nuances of the business may fall victim to thieves and scam artists.

©Caring Transitions 2015. Not for reprint in part or entirety.