Inherited items can sometimes be worth more than people expect. There are several reasons for this:

Rarity and collectability - Items that are rare, unique, or have historical significance can be valuable. People may not always be aware of the rarity or historical importance of an item they inherit.

There are times when you inherit a piece of jewelry or a watch that holds great value for you because it belonged to someone you loved. When that happens, you put it away somewhere safe and take it out and wear it on special occasions. You would never think of selling it. 

Did you know that Queen Victoria, who ruled Great Britain from 1837 until her death in 1901, was buried with a lot of her favorite pieces of jewelry?

She personally selected the items of jewelry that she wanted to be buried with her. They included pieces of jewelry that had been given to her by her late husband Prince Albert, as well as a number of bracelets and other items that held personal value for her.

How much were these items worth? We don’t know. But we do know one thing about them . . .

If you have an elderly relative who is about to enter a nursing home or assisted living, chances are you are already working with a counselor who is helping you deal with their financial assets. Today’s post is not meant to serve as a substitute for the expert advice you can get from those counselors, who know the ins and outs of Medicare and other factors that can impact on financial planning for elders.