How is jewelry distributed with regards to the overall value of the estate?
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How is jewelry distributed with regards to the overall value of the estate?
My father’s Will divides her estate between her 4 daughters. In a provision of the Will it states,
Asked on October 2, 2017 under Estate Planning, New Jersey
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
It is hard to guide you here without reading the provivions in their entirety. But if the distribution is as you say - granting executrix sole discretion - then the Executrix makes the decision. Did your Dad specifically Will certain peices to specific individuals? Then those pieces go to that person. Period. Appraisals can be done to value pieces of jewelry so that the entire value of an estate can be had. If you are dividing the jewelry so that each person gets the same valued amount this is helpful. Sometimes, though, a piece of jewelry means something to one person more than another. Sentimental value can not be "valued" in the same way. Good luck.
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