Objects of inheritance seem to be imbued with a special power. This is oftentimes the case, whether the family is aware of it yet or not. As one sitting down to put your intentions to paper, or even as the inheritor, it is a power worth pondering.
Nevertheless, more often than not, it is the family that sees the peculiar power of an heirloom. Maybe it is something well-loved and fought over. On the other hand, the heirloom may simply provide the tinder to which a disgruntled heir may choose to set match and light a fire.
Recently, Forbes considered this common source of family discord in an article titled “When It's Time To Part With Family Heirlooms, And Why I Gave Away Grandpa Oscar's Violin.”
This article provides fresh insights into the kinds of special moments an inherited object can bring to a family well after the loved one has past. In this instance, each family member had a piece of the story behind this particular violin chronicled in the original article, and, therefore, they all walked away learning a bit more about "Grandpa Oscar."
You cannot make all of the mistakes in life yourself, so it is best to learn from the trials (and errors) of others. Be sure to read the original article as it is really far from a tale of fighting, divvying up, or even the maximizing sale returns.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri) and to download free tools to help you organize your estate, visit my estate planning website.
Reference: Forbes (March 31, 2014) “When It's Time To Part With Family Heirlooms, And Why I Gave Away Grandpa Oscar's Violin”