Sentimental Property

Sentimental property

If you prefer to read, the video transcription is below:

In today’s video we are going to be discussing how to handle an asset that may be precious to the entire family and how to protect it.

When Robin Williams died a few years ago, one of the biggest fights among his heirs had nothing to do with money, had nothing to do with the house that he left behind or the millions of dollars. It had to do with suspenders. 

Now, granted, it was those famous rainbow suspenders that he wore on Mork & Mindy and the kids were fighting over who got to keep them because they were of great sentimental value.

 While Robin Williams’s family might have been wealthier than most, that type of fight is fairly typical. Families all over fight over things that everybody else would say, “Why are you fighting over this ring, over this picture, over this whatever?” 

It doesn’t matter to us, but to family it can really matter. 

So, if you’re the executor and you find these assets or someone is finding them for you, Don’t just hand them out. Make sure you get everybody on board. 

Make sure you have an agreement. If not get a mediator to help solve this thing. Don’t tear up the family over these things. 

Have a great day.

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