The Jewelers Coin & Loan Co. Announces New Estate Planning Help Program for Baby Boomers
Jewelry Can Be Given to Heirs or Sold
“We see the relatives of deceased Baby Boomers every day who struggle with what their loved ones leave behind, what should be done with their precious heirlooms and who should get what,” says Jeff Venice, company spokesman.
“Our program is quite simple. First, we instruct people to do the usual things that estate planners advise, such as have a will drawn up, set up a trust if that’s appropriate, select and designate a power of attorney, execute a healthcare proxy and, if desired, a living will and make sure your designees for things like your IRA, insurance policies, etc. are up to date and match your desires,” continues Venice.
“What we bring to the table are 3 further steps that we have learned need to be taken to ease the burden on relatives who must sort out the personal property that the Baby Boomers leave behind,” Venice states.
“First, valuables should be brought to someone who can tell you what they are worth, which items are valuable and how much could be realized by selling them. Assessing the assets and what they’re worth is important in deciding what to do with this personal property. For example, knowing which jewelry pieces have intrinsic value, i.e. gold, silver, diamonds and which beloved pieces don’t. This information will help decide which pieces to sell now and which pieces to pass on to which heirs. We provide that service.
Second, talk frankly with heirs about which items they may want. Everyday, we see people who inherit things they have no interest in keeping, from sterling flatware sets to diamond engagement rings or vintage gold jewelry. They’re then placed in the position of feeling bad about selling such items, but not really wanting to keep them.
Thirdly, it’s important to decide what to do with valuables while still living. This takes the decision-making out of the hands of others. This process may involve selling some valuables or giving them to heirs now so the extra money can be enjoyed now and/or seeing the satisfaction enjoyed by heirs,” Venice continues.
These steps ensure that assets are managed and distributed according to the owner’s wishes and minimizing potential conflicts among loved ones left behind. The only thing that could derail this process is procrastination. We recommend that Baby Boomers act now,” concludes Venice.
Media Contact
Jeff Venice
The Jewelers Coin & Loan Co.,
(617) 479-4653 (GOLD)
509 Beale Street
Quincy, MA 02169
@goldpawnership
www.goldpawnership.com
info@goldpawnership.com
Jeff Venice
The Jewelers & Coin Co.
+ +1 617-479-4653
email us here
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