Art & Antiques by Dr. Lori: Moving Mother and a Lifetime of Stuff

 
Tidbits of advice are often times the most helpful as we
navigate life’s waters. There are times when you don’t need a lengthy
discussion during times of change. Often, a bit of useful information is all
one needs to make an informed decision.

When a family member reaches a certain age, it is vital to
have professionals to help including clergy, elder care lawyers, financial
consultants, appraisers, accountants, and the list goes on. I conduct in-home appraisal sessions with clients nationwide who want to know what their antiques are worth so they can make an informed decision.

During times of change, I always tell my clients that when in doubt, ask an expert.

Lawyers can help you obtain necessary documents like POAs (Power of Attorney), conservator documents, irrevocable trusts, living wills, etc. If you don’t know about these topics, ask an expert. As time goes on, these will become important documents for you and your aging loved one.

Some people come to the point of donating objects that are
no longer useful or desirable. Automobiles fall under this category and many
children of aging parents are given the responsibility to donate a car that is
no longer being used. There are many foundations who will accept such donations
(such as the Sarah foundation, Purple Heart, Make a Wish) but always check what
the rules are with your lawyer and tax accountant before making a donation. You
may need an appraisal and you may need to submit a special IRS form with your
tax return. You may need an elderly parents’ signature or proxy, too.

If you are helping an elderly person donate a car or any other valuable item (art, antique, furniture, collectibles, books, etc.), be sure to have someone with the person making the donation when the donation is made. Don't have mother meet the person picking up the donation at the house alone. 

It is a good idea to have someone (or more than one other relative) with your elderly relative or friend at all times when other people
come to his/her home to assist or work on a project (i.e., the person who picks
up the car donation, anyone cleaning or doing work around the house, charities
picking up household items or clothing). The reason for this is that many of
these folks, while helpful--may see opportunities to take advantage of your
mother in her situation. There are a lot of things going on around an elderly
person during this transitional time and that can be confusing even for the
sharpest elderly or young person. It is never a good idea for folks to be alone
when all of this change is going on. Everything may be fine but don’t take any
chances. Plan to have someone who cares about the elderly relative there with
her to assist.

Many people send off old clothing to a consignment shop to
get money but the return really depends on the condition of the clothing and
the interest in the marketplace. For example, 1960s Lilly Pulitzer dresses are
going well right now at consignment shops because of the popularity of shows
like Mad Men. However you may only bring home a small return from these
clothing consignment shops and getting the money may take several months.
Connecting with a consignment shop in a city typically works out better as
there is more sales traffic in Boston or New York rather than a small town. On
that point, if you can’t be bothered with consignment shops or if your mother’s
wardrobe has been thinned out over the years, you may want to consider a
donation of old style clothes and shoes to a local theatre group. Get a receipt
for your donation on theatre letterhead and retain it with your tax papers.

If you are not sure what you want to do with a particular
work of art, antique, or collection, get an appraisal. Knowing the value of an
object may help families make an informed decision. This can be done online
where you get a document outlining the object and its value as well as sales
outlets for the item in writing by email.  

Time is truly your best friend now. If you have to rush, you
will make mistakes and possibly regret decisions. Try to take your time as much
as you can and don’t be afraid to ask for help.

Ph.D. antiques appraiser, author, and award-winning TV personality, Dr. Lori presents antique appraisal events worldwide. Dr. Lori is the expert appraiser on the hit TV show, Auction Kings on Discovery channel.  Visit DrLoriV.com, @DrLoriV on Twitter, Facebook.com/DoctorLori or call
(888) 431-1010.