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NEWSWORTHY NOTES
Gayle Gette, Extension/FNP
Agent For release April 30, 2004 Towner County Who Gets Grandma�s Yellow Pie Plate? |
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Passing on personal possessions is a process that occurs for almost every person in every kind of family. Whether it�s Grandma�s yellow pie plate, Grandpa�s milk stool, Mother�s recipe collection, or Aunt Sophia�s cookbook�almost everyone has personal belongings that contain meaning for them and for other members of their family. What surprises many people is that transfers of non-titled property (personal items without a legal document to indicate who officially owns the item) can create more challenges among family members than the transfer of titled property (land, vehicles).
Ten residents of the Cando Prairie View Estates who attended the program "Who Gets Grandma�s Yellow Pie Plate?" in April, learned that there can be powerful messages in who gets what. Planning ahead allows for more choices, the opportunity for communication, and fewer misunderstandings and conflicts. Families can use a variety of methods to distribute non-titled property. No method is "perfect� or "right" for all families, and all families should be creative as they seek solutions to any problems that arise. Some common distribution methods families have used include:
- Private auction: Family members buy
items in open or silent bidding. Families who choose this method may use real money or "funny money,"
such as marbles, poker chips or play money�with each bidder receiving an equal
number of units for bidding. Using "funny money" allows less-affluent
family members to compete equally with their "richer" cousins. If real
money is used, the money generated will go to the owner or to the estate and may
be subject to taxes.
- Gifts: Transfers of property can be given through gifts at any time, and
allows a family member to pass on stories and special memories associated with a
specific item. Gifts may also be given to charities or museums. Remember, once
given, gifts are the permanent property of the receiver.
- Lists: Many states recognize signed and dated lists, mentioned in a will,
as a legal method to distribute non-titled property. A list may be prepared by
the owner after receiving input from potential recipients, and can be easily
updated.
- Labeling items: Many people place masking tape or other labels on items to
identify who should receive them. It is important to note that these labels may
fall off, be removed, or become illegible over time. This method is also not
legally binding unless a valid list is also prepared.
- Garage/Yard/Estate sale: Public sales work well to distribute items of
little emotional or financial value. Some items may present a challenge to
arrive at a "fair market value", and will allow items of sentimental
value to transfer to people outside the family.
- Pilfer items: Without a specific transfer plan in place, many family members may find that when they weren�t looking, other heirs quietly removed items of special value. In addition to these items going to a person contradictory to the wishes of the owner, this method also causes hurt feelings and anger which may last for years and for generations.
Most people (six out of ten) haven�t completed either a will or a process for transferring their personal property. Research shows that owners who take time to make these decisions prior to death have happier family members who tend to accept the outcome with few misunderstandings or conflicts. Family, friends and future generations will also benefit from the special memories and stories that have been shared.
"Who Gets Grandma�s Yellow Pie Plate" was given by Gayle Gette, Extension Agent, and coordinated by Diane Lease, activities director for Prairie View Estates.
