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Downsizing made easy

On Behalf of | May 24, 2023 | ESTATE PLANNING - Estate Planning

There are plenty of reasons for Illinois residents to want to downsize. Minimalism continues to become a popular lifestyle choice for millions of people across the country, and many people choose to downsize when they get older and begin the estate planning process. If you’re looking to downsize in a hurry, it’s much easier than you may believe.

The four Ps

There are some items that most people want to keep, even when they’re downsizing. Experts consider these the “Four Ps.” They include:

  • Paperwork
  • Photos
  • Prescriptions
  • Perishables

Having certain paperwork on hand is a crucial component of estate planning. Additionally, most people want to hold onto photographs and certain perishables while prescriptions are a vital part of life for most people.

Determining what really matters

Even when you’re downsizing, there are some items that you’ll want to hang on to. Those items are those that really matter whether for sentimental reasons or the practical benefits that they provide. When downsizing, consider the usefulness of each item you come across and let go of things you don’t need.

The leftover dilemma

Once you’ve decided which items you plan on holding onto, you’ll have to decide what to do with the items that remain. A garage sale is a great way to turn the items you don’t want into cash, but pricing and selling those items can become tedious.

If you don’t want to put the work in to sell the items, consider donating them to a local organization. There are some organizations that pick up large items such as furniture for resale. Even if you don’t find one, you can often find people who will haul off the items you no longer wish to keep.

Taking a minimalistic approach to life has some benefits. If you don’t want to spend a lot of time downsizing, these tips can help you get through the process quickly.