Who Wants What?

Summer brings families together in relaxed settings, creating opportunities to share fond memories and tell stories. It is also an opportune time to talk about the future with many generations present. For example, what is going to happen with parents’ and grandparents’ antiques, silverware, art, coin or car collection, tools, or furniture? Who wants what treasures? These days, answers can be surprising and sometimes disappointing for elder family members as takers can be fewer than expected for long-treasured possessions.
Here are some of the many factors driving today’s realities:

 • This may be the first time in world history that two generations—boomers and boomers’ parents—are downsizing concurrently, prompting a flood of decisions about “stuff.” Families are also spread out geographically more than ever before and that reality presents its own challenges.1
• The cost of inheritance taxes or to insure, maintain or store items can be significant.
• Lifestyles have changed with younger generations leading more casual, mobile lives, in smaller (think 400 sq. ft. condominiums), more urban locations. Treasures and inherited furniture can, literally and figuratively, just take up too much space.

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