When dividing an estate, can sentimental valve be added to the household property or does it have to be divided according to actual sale value?
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When dividing an estate, can sentimental valve be added to the household property or does it have to be divided according to actual sale value?
Some in the family want compensation for sentimental value. Is it even possible to make adjustments that would even be fair or be equitable?
Asked on February 15, 2012 under Estate Planning, New York
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am so sorry for your loss. If you think about it, it would be impossible to value property in that way. There could be no barometer in the marketplace upon which the object could be measured. If an item has great sentimental value to one of the beneficaires perhaps it could be fairly valued and then that beneficiary could purchase the object rather than sell it. Good luck.
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