As many of us decide to downsize when entering retirement, it’s important to consider our material legacy. Which assets will we pass on to beloved family members, and which personal keepsakes will be appreciated? Inheritance items can be a great source of comfort, financial support, or sentimentality, but they can sometimes be a headache. Here are 21 things people would rather not inherit when family members pass away.
Silverware
Silver-plated tea sets and ornate cutlery were prized valuables anyone would happily inherit. But nowadays, heirloom silver isn’t as fashionable as it once was. Not only are younger generations unlikely to polish silver, but its depreciating value means grandma’s silverware won’t sell for much.
Financial Burdens
Unfortunately, more older people than ever are accumulating debt during their retirement. While a parent’s estate is usually responsible for paying any money still owed, children sometimes receive reduced inheritance because of these debts.
Timeshares
Vacation homes are often nostalgic locations that hold cherished memories. But despite their sentimental value, timeshares can be a burden to inherit. Contracts are notoriously difficult to get out of, but the additional costs are ongoing and ever-increasing.
Old Clothes
Inheriting a few pieces of clothing from our parent’s closet can be a great comfort during the grieving process. The clothes might even be hardly worn vintage pieces that can be re-sold or re-worn. But few heirs want to inherit piles of second-hand clothing that are out of fashion.
VHS Tapes
VHS tapes might have been the epitome of family entertainment in a bygone era, but they are essentially useless nowadays. Younger generations rarely see the use in keeping old-fashioned video players, cassettes, and VHS tapes unless there’s nostalgic value attached to these items.
Holiday Decorations
Each household has an attic filled with boxes of holiday decorations, from strings of tinsel to fairy lights and synthetic Christmas trees. But decorative trends are always shifting, and it’s unlikely our children use the same style of ornaments to decorate their homes for the festive season.
Figurines
For many older people, porcelain figurines are staple household items, lining shelves, mantelpieces, and table tops throughout the home. While they had a definite heyday, figurines aren’t as popular among the Millennial and Generation Z crowd.
Unresolved Conflict
While not a material inheritance, many people pass down generational family conflict when they pass away. This can cause untold stress for the children and grandchildren left behind, who must navigate the aftermath of age-old arguments.
Legal Troubles
From tax implications to an unequal splitting of assets, it’s not uncommon to inherit legal troubles when a family member passes away. To ensure loved ones don’t have a legal battle on their hands, inheritance planning is crucial.
Old Shoes
Discovering piles of old shoes in the closet of a loved one who’s recently passed on isn’t an ideal situation. Like old clothes, worn-out shoes rarely appear on the list of things children want to inherit from their parents.
Neglected Properties
Inheriting a house can be wonderful and help your children safeguard their financial future, but only if it’s left intact. Children who inherit neglected properties riddled with structural problems often spend a lot of money fixing them. This can mean a cherished childhood home quickly becomes a burden.
Books
Unless your loved ones are avid readers with enough space for a new library, they may not want to inherit physical books. Young people are more inclined to read e-books or listen to audiobooks, meaning your old book collection could quickly gather dust.
Glassware
No matter how unique or expensive your glassware collection is, if it isn’t dishwasher-friendly, there’s a slim chance your children will want to inherit it. Nowadays, glassware is a practically-minded purchase, and those with young children might not want breakables hanging around.
Fine China
Like glassware, fine china can be a tricky collection to inherit, especially if it doesn’t match your personal style. Unless the china is modern, plain, and dishwasher-safe, it might not be of much use to younger members of the family.
Outdated Technology
Rarely used gadgets or relics of the past aren’t usually well received by younger generations. Once-coveted but outdated tech such as game consoles, iPods, or radios aren’t typically what people want to inherit. Unless it’s a rare collectible item or special edition, of course.
Knicknacks
We live in an age of minimalism where young people are more likely to shed household items than add to their collections. This has created a world where knickknacks aren’t as welcome as they once were. Inheriting a collection of paperweights, miniature statues, or novelty candles doesn’t hold the same excitement as it once did.
Guns
Inheriting a firearm can quickly become an overwhelming experience, as there’s a lot of legality and personal opinion involved. Even if an heir decides they want to keep grandpa’s gun, there are numerous regulations and restrictions to wade through.
Collections
From stamp collections to figurines and stacks of ancient vinyl, many of us have a collection or two. While you probably spent years amassing these collections, they likely won’t mean the same to the person inheriting them.
Old Furniture
Furniture fashion changes with each season, and the appearance of our houses is ever-changing. At one time, vintage furniture sets were all the rage, but these days, modern pieces are more popular. While you might think your 1950s mahogany coffee table is chic, your children or grandchildren are likely to disagree.
Clutter and Chaos
As we get older, our homes can descend into disarray no matter how hard we try. A lifetime’s worth of possessions, heirlooms, and knickknacks can quickly build, whether they’re stored away or in plain sight. Children rarely want to inherit clutter and chaos, especially if there’s nothing of value among the masses of items.
Kitchen Appliances
From breadmakers to food processors and specialty cooking tools, the previous generation had an obsession with kitchen gadgets. But the reality is that cooking habits have changed beyond recognition, and the tools used to cook have altered with them. Young people may not want to inherit these items.
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