Probating Collections

2:01 pm Uncategorized

Some of the estates we probate contain great collections.  Dad may have collected automobiles; baseball cards; or stamps.  Mom may have collected silver; wine; rare books; or jewelry. 

 

The process of probate in California does not change even though a significant portion of the estate is comprised of a collection.  Rather, the collection is ultimately appraised by the probate referee assigned by the court.  Sometimes the administrator or executor hires a third party appraiser and less frequently a member of the family will also hire an appraiser.

 

The issues in probate frequently are what ultimately happens with the collection.  Each family and each collection presents its own challenges.  Ideally, the family sat down and each individual expressed his/her true feelings about the collection.  However, frequently this did not happen.

 

When the collector has not written specific instructions about what he/she wants to have occur, it becomes a decision for the administrator or the executor to make.  This can be a burden on the executor or administrator and frequently the probate attorney has to serve as a sounding board.

 

An experienced probate lawyer can be worth his or her weight in gold in these types of cases.

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