It’s easy to imagine how an estate dispute could take place if a large sum of money is involved. If two siblings find that one got $1,000 and the other got $1 million in their inheritances, there are likely to be some difficulties due to the disparity between the two.
But what if an item is only worth $50? What if it has no value at all? Why do estate disputes over virtually valueless objects still take place?
Memories can have immeasurable value
The issue is that those items may have sentimental value, and therefore may be irreplaceable. Their financial value no longer matters.
For instance, perhaps the parent was a lifelong musician. They often played their guitar for their children. It was an old guitar and not in great shape, so the value is only a few hundred dollars. But both children have memories of listening to their parents play, and they’d love to add the instrument to their own collection.
They can’t divide it. They could sell it and split the money, but neither person cares about the $100. They care about what the guitar represents. Even if one of them was given money to buy an identical guitar, it wouldn’t be the same as having the actual one their parent played.
What should they do?
This is a very difficult situation, and it often takes place at a time when emotions run high and the value of memories is at a premium. Disputes are common and can get quite complex. If you and your siblings find yourself in this position, working with an experienced law firm can help you move forward.