Value of possessions

[sharonwsmn]

I'm having a real problem putting a fair market value on everything I own! Like: I have a ton of books. Just regular hard cover books with various themes. Any ideas on how to price books? The other thing is many fishing rods, many reels & many old cameras (not antique but collectible).

[ladyjenn]

My atty told us to price them as what you would pay for them at a garage sale.

[plisar]

Same as above. And you don't need to come up with a price for each individual book, dvd, or software package you own. You need categories. For example:

Furniture: $250
Clothing: $5
Books: $50
Etc...

I broke it out into a much more detailed list and had my lawyer laugh in my face. Never hurts to be thorough, but you don't need to worry about categorizing and sorting all of your possessions.

[sharonwsmn]

Thank you so much to both of you who posted a reply to my question. You have been very helpful.

[Heli]

I used this guide from the salvation army as a guideline when putting a value on everything. Wasn't questioned by the trustee at all and already have my report of no dist, just counting the days now.

[sharonwsmn]

Thank you for the guide line, I will check it out immediately!