Q. My parents knew it was time to downsize soon after my son (their grandson) Logan was born. They started to re-evaluate what’s important to them at this stage in life and decided that their
health and family were more important than a larger home with a big backyard.
Recently, they started getting their two-story colonial in Burke ready to put on the market or rent and will be relocating to a much smaller home in Lake Anna, closer to where my family resides. My brothers are trying to convince them not to sell the place we grew up in, since they want to keep it in the family, but
rather to rent it out.
While it’s wonderful that they are moving closer to us and downsizing, they have a lot of stuff. How do you determine what to keep, what to get rid of, and what to move? Are there any legal ramifications when seniors decide to downsize/transition to a smaller place? (i.e. children don’t want to sell the house.) Should they have an inventory of all valuables? A list of who
gets what? Also, do people ever pre-plan for estate sales before they die? Perhaps they designate what they want to sell or what company to use?
Thanks so much for your help!