While holding onto cherished belongings is natural, passing unwanted items on to your kids can create more stress than sentiment.
Faced with mountains of possessions, grown children often resort to drastic measures, leaving both items and memories lost in the dust.
Here are 16 items you can remove from your inheritance plan to reduce financial stress and leave space for a legacy of love, not stuff.
Make Money: 8 things to do if you're barely scraping by financially
1. Cherished heirlooms
While this runs counter to intuition, not passing on heirlooms can avoid fighting among your children.
If there’s an especially fought-over painting, vase, or piece of furniture, it may be best to sell it outright now and split the proceeds equally.
Own a car? Here's 7 warning signs you're paying too much for car insurance. 2. VHS tapes
Your kids don’t want your old VHS tapes. Get rid of them now — you can still donate them to thrift stores. Digitize the content for important footage, like family trips or historic events.
There are several ways to do this, including VHS to digital converters that start at around $70 on Amazon.
3. Shoeboxes of old photos
Like old VHS tapes, your next of kin will appreciate you taking the time to digitize old photos. If you have hundreds of photos, scanning them one by one may not be feasible. Services like LegacyBox will digitize your print photos and reels for you at affordable rates.
In addition to digitizing these prints, label and organize them too. Print names, places, and dates on the back of them.
Even if you’re not 100% certain of the time and place, foggy details like “trip to the cabin during the summer vacation of 1959 or 1960” will still be greatly appreciated.
Enjoying our content? Click the Follow button above to see more from us.
4. Old clothes
Except for your carefully preserved wedding dress — and that’s a big maybe — no one wants your old clothes.
Clear out your clothing now and donate unworn items to charities. Even if you have loads of new clothes with tags still on, get rid of them if you’re not wearing them.
5. Old linens
Just like apparel, no one wants your extra bedding, tablecloths, doilies, and other old linens. Keep what you need now for everyday living, and discard the rest.
6. Personal care items
Clear out the medicine cabinet. While you probably aren’t planning to pass down old OTC drugs and bottles of lotion, any toiletries will wind up getting chucked. While downsizing now, make a pass through your bathroom and toss out anything unused or expired.
Get Out of Debt for Good: Try these 6 clever ways to crush your debt 7. Old magazines
Your kids probably don't want to inherit your 20-year subscription to "Reader's Digest." The collection is either collecting dust or taking up storage. Dump it out. Or, if possible, recycle or use it for kindling.
8. Holiday decor
Beloved holiday items, like menorahs or Grandma’s nativity set, can cause endless bickering and ill will. Decide who’s getting what now , and explain your intentions to the kids.
9. Fine china
Once a cherished symbol of hearth and home, china dinnerware has become less popular. It’s no longer de rigueur for brides and grooms to register for their pattern or display dishes in huge polished wood cabinets.
Grow Your $$: 11 brilliant ways to build wealth after 40
10. Old family piano
If you have an old, unplayed piano, get rid of it now. If it’s been decades since its last tuning, it may need several tunes in its first year of restoration — costing upwards of $500 per go.
If a piano has been neglected long enough, it may require a total rebuild, which can cost as much as $15,000.
The best thing to do with an old, unmaintained piano is to give it away for free (preferably to someone who can come and pick it up) or to pay now for piano disposal and removal.
11. Dirty laundry
Everyone’s got their secrets — many that they’d prefer to take to the grave. If this is also true for you, do a thorough pre-cleaning now and burn or shred the evidence.
You won’t be around to experience your family’s mortification, but you could permanently alter how your family thinks of you. You don’t want to leave them conflicted or destroy your legacy.
12. Rejected gifts
You may live for the thrill of a good deal — and want to foist the bargains onto your kids. If your daughter passes on the cookware set you got for a song at Home Goods now (only $39!), she definitely won't want it after you're gone.
Return it or donate it now. And ditto goes for all those presents to you from your kids. Do you want your death to be when they find out you never liked Hummel figurines (unopened) or smoking jackets?
Are you a homeowner? Discover 8 savvy money moves to stretch your budget
13. Dust
No one wants to inherit or deal with a dirty house. While you may have made peace with the dust bunnies and mildew in your unused bathroom, cleaning out and cleaning up an inherited property takes significant time and money.
If you have the means, consider paying for a deep cleaning now. It will also benefit you as you organize, streamline, and declutter.
14. Encyclopedias
Now’s the time to purge those encyclopedias. Although you can still find some printed encyclopedias, there’s no real market for them, and they can be difficult even to donate. They’re bulky, heavy, and not particularly useful to schoolchildren doing their homework.
15. Record players
Old record players with missing parts should also top the list. While record players and vinyl albums are making a comeback, old, broken players can be more hassle than they’re worth.
16. Money
Increasingly, parents opt to help their grown children get ahead financially while they're still alive. This can allow you the pleasure of helping your children succeed while you can see the money's benefit.
Some parents choose not to leave their children any gift funds — before or after death — wanting them to inherit a legacy of hard work over trust fund leisure.
Bottom line
Passing down cherished belongings can be a beautiful way to connect with your children and leave a lasting legacy.
Involve them in the downsizing process, letting them choose items that hold sentimental value or help them build wealth .
This way, they inherit not just objects but tangible memories and stories associated with them, strengthening the family bond for generations to come.
Money tips that can work for everyone
No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.
Focus on paying off your debt . Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.
Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.
Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).
Local News
