ESTATE JEWELRY, FINE JEWELRY, SELL JEWELRY
Estate planning is often a dreaded task that many would rather avoid facing. Sitting down and divvying your assets with loved ones can be stressful and emotional. Often, valuable and sentimental items such as jewelry can end up in the wrong hands if there isn’t a plan. Luckily, we’ve got you covered with our flexible services. Here are many of the different services that we offer.

EDIT YOUR COLLECTION
The first of our estate planning services is to declutter your jewelry. If you’re like most people who love jewelry, you probably have quite a bit in your collection. Decluttering your jewelry can help identify what pieces you want to pass on versus those you no longer need or want. If you come across valuable but not sentimental jewelry, you can choose to include the items in your will, give them away to family and friends now, or sell them. We offer many choices to make your estate closer to our good-housekeeping goal.

ITEMIZE YOUR INVENTORY
After decluttering your jewelry collection, the next step is to itemize your inventory. Itemizing your jewelry inventory will ensure that all your valuable and sentimental jewelry is accounted for. Separate your jewelry into categories: rings, necklaces, earrings, bracelets, etc. Once categorized, you’ll need to document your jewelry collection. Here are a variety of ways our services can account for your jewelry, including:
Handwritten list
Spreadsheet
Photo album
Home inventory detail
Include important details such as:
Jewelry Type
Description (carat, cut, clarity, etc.)
Latest appraisal value
Date of ownership
Unique identifiers (family heirloom, class ring, etc.)

MEET WITH FAMILY MEMBERS INDIVIDUALLY

Invite loved ones to look over your jewelry collection. This will give you a good idea of what items are meaningful to each person. You may not have known that your daughter liked a particular necklace or that your son desired your coin collection. This process will also allow you to tell the stories behind your favorite pieces that you may not have had a chance to tell previously, and that in itself is valuable.

GATHER IMPORTANT DOCUMENTS

Having important documents readily available and included with your jewelry will ensure the recipient receives all the necessary documentation that goes along with the jewelry. When we create your inventory, you can rest assured that the organization of your assets will include the following:Purchase receiptAppraisalGIA or AGS lab report

BE SPECIFIC

One of our list's most essential estate planning tips is to be specific when writing jewelry into your will or living trust. While we never want loved ones to fight over our belongings, unfortunately, it happens. Simply writing in your will, for example, “I leave all my jewelry to be equally shared by my three children,” might cause conflict when it comes time to divvy it. Instead, be specific about which items should go to each person. You can even include this on your itemized inventory list, but also be sure it is included in your will. Some states allow you to have a separate list of items and who you want to inherit them. This document is called a “property memorandum.” Legacy will help organize these essential steps for your assets.

COMMUNICATE YOUR WISHES

Communicating your desires to your loved ones beforehand can help alleviate conflict when it’s time to divide your valuables. This also gives you a moment to explain why it’s essential that a loved one receives a particular item. While this verbal conversation isn’t legally binding, it will likely impact family members and may prevent conflict in the future. If you don’t feel comfortable having the conversation, you can always write a letter or communicate your desires to the executor of the state. Legacy has been an interactive partner with many families to create a positive bridge and experience for asset distribution.

OTHER WAYS TO LEAVE JEWELRY TO YOUR LOVED ONES

If the idea of choosing a loved one to receive certain items of jewelry makes you uneasy or if you have many family members, you can choose other ways for your loved ones to receive your valuables, such as:Letting the executor decide who gets what. Setting a monetary value for each recipient. Allowing the recipients to bid on each item and pay the estate the money. Allowing LEGACY to manage the distribution of your assets.

FINAL TAKEAWAY

Legacy has been interacting on behalf of families and estates for 40 years and believes that a well-organized jewelry inventory can help determine which sentimental and valuable items you want to pass on. Being specific and communicating your wishes to loved ones will ensure your jewelry ends with whom you want it to. We are here to help you and welcome every family, regardless of the dynamics.