Organizing Your Collections, Antiques and Other Valuables.

If your estate contains treasured items such as valuable collections, antiques or items of sentimental value, it would be wise to do an inventory of these items for your loved ones.

You will want to photograph, list and describe all treasures in your possession. Note key features about each item including provenance, condition, rarity and etc. Also note the current value and how you think the items will sell best if your loved ones want to sell them. You might have been corresponding with an auction house or know something particular that would be very useful to your loved ones after you pass away.

For very high value items, you might want to consider obtaining a professional appraisal to include with your inventory.

After you've inventoried your collection, put everything in a nice folder or binder and keep in a safe place. I recommend placing this information in a fire-safe box at home. Be sure to tell your loved ones where this information can be found.

Once completed, this inventory has two purposes.  One, your heirs won't make any mistakes selling your treasured collections before realizing its value. And, two, you will have a valid documentation for insurance purposes.

Adapted from The Smart Collector column "Plan beforehand what to do with estate" authored by Danielle Arnet.