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Last Post Nov 4, 2009 3:38 AM by: decorators_exchange
Replies: 5
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shiponsitebrandon
Posts: 4

Death of a Consignor

Nov 3, 2009 1:57 PM
I have sold items for this consignor and have a check for her. I still have several valuable items of hers as well.
I received a phone call from a friend of hers to tell me that she has passed away and she wants to come pick up her items.I know that her husband has already passed away and I don't think that she had children.
What should be done with her check and the remaining items?
Any help would be appreciated.
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academyawardsknight
Posts: 2
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Re: Death of a Consignor

Nov 3, 2009 2:52 PM
The simple answer to this would be to inquire or determine if there is next of kin and/or executor of her estate. Releasing anything to her "friend" could be a problem later. If she had a will this would clarify a lot. Depending on the value and any future headaches you may want to consult an attorney. Perhaps you could even find out the 101 basics in a "free consult" or if you know anyone in the legal field.
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decorators_exchange
Posts: 486
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Re: Death of a Consignor

Nov 3, 2009 6:44 PM
You MUST ascertain who the executor of the estate is. Make checks payable to "the Estate of XXX" ONLY, and to no one else.

Be particularly suspicious of anyone who gets annoyed that you insist on making checks payable to the estate of...
And, if the person died without a will, then an estate must still be established, even for the little things, like final Social Security check settlements, Social Security death benefit, (which is only $250) etc, final IRS stuff, etc. So, some family member, or friend if there is none) will have to go to court and get named executor...don't let anyone tell you otherwise. I know this for a fact because my father died without a will..didn't have a lot of assets, in fact, none, but we couldn't do even the little things without getting that estate set up.

I would take the position that I can only make checks payable to the estate, or release them on specific instructions of a judge. That's IT. Don't let anyone hound you, don't argue with anyone, and don't take anything in writing, either, unless it is from a Judge. Don't believe what you read coming from a lawyer...don't let a lawyer, or the lawyer's letterhead, bully you.

At this point, I would sell/liquidate her remaining items...no executor is going to want the belongings...they're of no value at all until sold, and executors get precious little cut for their work (3% in most states) to justify the learning curve of learning how/where/when to sell these things.

Karen

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consigntheclutter
Posts: 143
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Re: Death of a Consignor

Nov 3, 2009 7:57 PM
Very good advice Karen!
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arnoldtrading
Posts: 14,985
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Re: Death of a Consignor

Nov 3, 2009 10:52 PM
So, some family member, or friend if there is none) will have to go to court and get named executor...don't let anyone tell you otherwise. I know this for a fact because my father died without a will..didn't have a lot of assets, in fact, none, but we couldn't do even the little things without getting that estate set up.

It really depends on the jurisdiction and other mitigating factors. My mother died without a will and there was no need to set up an estate.
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decorators_exchange
Posts: 486
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Re: Death of a Consignor

Nov 4, 2009 3:38 AM
It really depends on the jurisdiction and other mitigating factors. My mother died without a will and there was no need to set up an estate.

After a person's death, all future social security payments, IRS payments and health insurance payments were made payable to "The Estate of" in my parent's cases. So, I had to set up an estate for the simple purpose of opening a checking account for "The Estate of". It really was not a big deal...not as high-falutin' as it sounds. Went to the county clerk, showed death certificate, showed I was next of kin, got a document to take to the bank. Thereafter, cashing those checks was possible.
The only check that ever came payable to me personally was life insurance I was the beneficiary of. Otherwise...everything was to the estate of..

Karen

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