Estate planning is usually done and then forgotten.
Rarely do people think through the logistics of how their estate might be settled, and often, they forget how much stuff we have.
What makes handling or settling an estate especially more difficult is that the executor has to methodically review the will and distribute the estate assets properly. Usually, this is very time-consuming and done when family and friends are trying to process their own grief.
In other cases, settling an estate becomes more complicated if probate is required, or if the remaining relatives or loved ones disagree on certain items. In these cases, the executor may be obligated to wait before distributing the estate assets, and because the executor may not be certain on timing, this could freeze the whole estate.
A flexible solution for families handling an estate is renting a self-storage unit. And most families and loved ones will agree that the executor can place items into self-storage while handling the estate, because there are so many benefits:
Overall, a self-storage unit will save the estate money and help eliminate unnecessary stress while the estate is being settled.
When renting a storage locker, whether for estate purposes or otherwise, it is always important to keep records of which items are stored where.
It is also important to establish who should have access to the storage unit and who should rent the storage unit.
In addition to agreeing on who is renting the self storage unit, there must be agreement on who is paying that rent (and being reimbursed from the estate). In terms of who pays for the rent, you will want to ensure that person is credit-worthy and does not have financial difficulties, because failure to pay self-storage rent could eventually (in the worse-case) lead to an auction of the contents. In case the estate is complicated, or there are doubts about the executor, your self-storage facility can always provide receipts to evidence payments made. A possible solution, in you are concerned with rental payments, is to request the renter (usually the estate executor) provide proof of payment monthly via email.
Settling an estate is difficult work. There are often many emotions involved and the items being distributed are meaningful, which is why the process cannot be rushed.
At Storage Solutions, we understand these feelings and issues and we can provide support and the right self-storage solution. We make renting storage units from either our Milton self-storage facility our Woodstock self-storage facility simple and easy. We offer touch-less renting, which means you can rent, pay and communicate with us 100% online.
If you need self-storage while your settling an estate, call, text or email us, or visit us in person. Storage Solutions Woodstock is located across from Execulink at 1150 Ridgeway Road, Woodstock and Storage Solutions Milton is located at 9200 Twiss Road, Milton.
Your friend in self-storage,