No — and trying to would waste time and money. The skill is telling the everyday belongings apart from the few items of true value (if any!), because it’s those items that can create real risk for an executor.
After a death, the family home is full of belongings — furniture, dishes, clothing, jewellery, keepsakes passed down over the years. For the executor, these sort into two very different groups, and knowing which is which is most of the job.
Personal effects: heirlooms, everyday jewellery, household items
Most of what’s in a home has meaning but modest market value: a mother’s wedding ring, a set of dishes, a watch, the family photographs. These are personal effects, and they’re handled the practical way.
If the will points to a memorandum or list of wishes — a note the deceased left saying who should receive what — the executor follows it. If there’s no such list, the executor divides these items at their discretion, aiming for fairness among the beneficiaries.
The challenge with this group is rarely money. It’s feelings. Two siblings can both want the same ring, and no appraisal settles that. Here the executor’s work is even-handedness, clear communication, and keeping the peace — not valuation. Formal appraisals for ordinary belongings add cost without adding much.
Items of true value: where liability occurs
A smaller number of items are different. A genuine work of art, a serious coin or stamp collection, high-end jewellery, a collector vehicle, an antique of real worth — these carry market value, and mishandling them is where an executor gets exposed.
Three reasons to treat this group with care:
- The tax return. Items that gained value over the years can trigger a capital gain, reported at their date-of-death value. (Yes, a collector car can trigger capital gains!)
- Fair division. When a valuable item is kept by one beneficiary, or sold and the proceeds shared, everyone needs to trust the number.
- Your protection. An executor who gives away or undersells something worth far more than they realized can be held personally responsible to the beneficiaries for the difference. That’s the risk that makes this group worth pausing over.
For anything in this category, get an independent appraisal before you distribute or sell it — one that gives fair market value as of the date of death, from someone qualified in that kind of item. And keep the roles separate: whoever values a piece should not be the one buying it.
When you’re not sure
The tricky case is the in-between item — the painting nobody knows much about, the collection an uncle built up over decades. The rule of thumb: when in doubt, get an opinion on value before letting the item leave the estate. A short conversation with an appraiser costs far less than discovering later that a valuable piece was given away for nothing.
If you’re the one leaving the collection
If you own items of real value, the kindest thing you can do for your executor is tell them in advance — what you have, where it’s kept, and any appraisals or paperwork you already hold. That way the everyday belongings can be shared the straightforward way, and the valuable pieces get the attention they need.
Help your executor tell the ordinary from the valuable.
Sorting the everyday belongings from the items of real value, and gathering any existing appraisals, is one of the steps we cover in our Executor Readiness Review — so your executor knows where to relax and where to be careful. If there are items of real value in the picture, we’re glad to help you get ahead of it.
TLR Law Office — Winnipeg | St-Boniface · St-James · South Winnipeg · Henderson
This article is general information about Manitoba estate law and is not legal advice. Every estate is different; for advice on your situation, please speak with a lawyer.
