Downsizing your estate—whether out of necessity or just proactively—is a lengthy process that can come with numerous roadblocks and pitfalls along the way. If you don’t have a strategy, a process and the proper documentation, your downsizing is bound to bring about more problems than it solves, putting you in a frustration position when it comes time to tally the gains and losses.
Fortunately, if you do find yourself in a position where downsizing is immanent, you’re not alone in the matter—or at least, you don’t have to be. Hiring an estate appraiser in Maryland is one of the smartest moves you can make before the downsizing process swings into high gear and when it’s through, you’ll absolutely see the benefits of trusting in a professional to assist you in this comprehensive process.
What does an estate appraiser in Maryland bring to the table that you can’t do yourself? Take a look at just some of the knowledge that comes with a hired professional:
- Before you can actually downsize, you need to know what you’re downsizing, which means cataloging and itemizing everything in question. This is the number one reason to hire an estate appraiser: so that you’re not guessing at what’s being downsized and so comprehensive and complete records are kept.
- Not sure what the best course of action is for distributing your estate? An estate appraiser will be able to advise everything for equitable distribution to downsizing and any other method that might be ideal for downsizing specific segments of your estate.
- If you are choosing something like an auction—especially an open estate auction—it’s going to require tremendous organization. An estate appraiser will be able to not only make sure your auction is scheduled and executed accordingly, but also that it’s chalk full of potential buyers, rather than just a couple bidders.
- When all is said and done, you’re going to need a way to collect your money and make sure the proper paperwork is filed after your downsizing… which is a lot harder than you might think! Having someone take care of these things for you is going to be a burden off of your shoulders in the final leg of an estate sale or auction.
The key to any downsizing is to maintain accuracy and have a seamless process set up to facilitate the downsizing as quickly as possible. If you’re able to rapidly catalog, list, auction and collect money when it comes to your assets, you’ll find yourself in a position to move on after the process, whether that means paying debts or simply consolidating your estate.
For more information about estate appraisal services or to learn more about the downsizing process and why it pays to work with a professional, don’t hesitate to contact Jane Campbell-Chambliss & Associates, LLC today. We’re here to make your downsizing as quick, painless and accurate as possible, so you can take the next step forward with your estate.