What Do We Do With All Our Stuff? 3 Immediate Solutions

Okay, we’ve all heard of Marie Kondo and her book, “The Life-Changing Magic of Tidying Up.” And we’ve read countless articles on efficient organization. Marie will help us keep our stuff that gives us joy.  But what are you supposed to do with your personal prized possessions that hold such sentimental value?

If we do nothing, many of our prized possessions will either be sold at an estate sale or sent off to our favorite thrift store after we pass away. But there are three options you can do now to ensure that they end up with your children and not in an estate sale.

There are three options:

  1. Give it while you can. What better way to see the joy on your loved ones’ faces by giving it to them while you are alive?
  2. List the gifts right in your trust or will. The advantage is that the gift is securely locked in place, and difficult for someone to “snip it out” after you die. But the downside is if you change your mind and want to give it to a different person, you will have to pay to have your trust or will revised. P.S. If don’t have a trust and own your home, we need to talk!
  3. Be sure your trust or will has a provision that allows you to make an outside list that is incorporated by reference in your will or trust. The advantage is that you don’t have to pay your attorney to amend your trust each time you change your mind. The disadvantage is that one of your beneficiaries might not like your choices and make the list “disappear.” Since it’s a separate list, it is not as secure as if you include the gift in your trust.

Finally, we all love your stuff, and assume our kids will too. But you might find that your children aren’t as excited about your favorite possessions as you are. The solution? Ask them now, and if they don’t want them, consider donating them to your favorite charity, either now or after you pass away. And Marie Kondo will be proud of you!