When Heirlooms Become Assets with Peter Costanzo
About this episode
Stacy Francis and Peter Costanzo discuss the importance of including heirlooms and collectibles in estate planning and the potential conflicts that can arise from their valuation.
Could the most overlooked part of your estate plan be sitting right in your living room? Jewelry tucked away in a drawer, artwork on the wall, a shelf full of old books, family pieces everyone assumes are “just sentimental”. Some of these items may be worth far more than anyone realizes, while others may not hold the value your family expects. In this episode, Stacy sits down with Peter Costanzo of Doyle Auctioneers and Appraisers to talk about how collections, heirlooms, and household treasures can create unexpected opportunities (and unexpected conflict) if no one plans ahead. You’ll hear them discuss: Why artwork, jewelry, books, and collectibles should absolutely be part of your estate planning conversations How professional appraisals help families understand what items are actually worth before difficult decisions have to be made Why heirlooms that look “equal” may have wildly different values, and how that can unintentionally create conflict between family members The difference between fair market value and retail replacement value, and why that matters for both estate planning and insurance How to protect yourself from being taken advantage of when selling valuable…
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