Does this item have value? Your loved ones may be called upon to make this judgment hundreds of times when sorting through all of your papers and possessions in the event of your death, incapacity (think of Terri Schiavo), or move into an assisted living facility. (Or, it may be you who must make these judgments about another person’s items.)

Value here should be thought of in broad terms. An original van Gogh painting has obvious financial value. The one thousand page TIME 2003 Almanac* on my desk probably has no financial value whatsoever, yet to me it is priceless because it was a Christmas gift from my father, who died a few months later. His handwritten inscription to my wife and me warms my heart and reminds me of his clever, good-natured humor: “Dear Kim and Mark, Please don’t ask me any more questions. Love, Dad”

*Note to younger readers: an “almanac” is a comprehensive annual publication of facts, figures, lists, forecasts, etc. It is printed with ink on paper and bound into an often imposing physical specimen called a “book.” Books were quite common before the advent of the Web.

Here are THREE STEPS you can take to make sure your loved ones know what of yours has personal or financial value, and what is safe to sell for $10 at a yard sale.

FIRST, identify the items you have that hold significant personal and/or financial value. If you can do so without damaging the item, attach a note describing why the item is valuable, as well as the location of any helpful documents (see step two).

If you’re unsure about an item’s worth, consider hiring an appraiser. Yes, you’ll pay a fee, but an honest and qualified appraiser can help you identify whatever furniture, jewelry, paintings, coins or other items are valuable. A dusty old wooden chair might turn out to be a rare Chippendale original.

Skeptics should consider the experience of a guest on the long-running PBS television series “Antiques Roadshow” who learned that an old housewarming gift was in fact a 1937 painting by American Expressionist artist Clyfford Still, estimated to be worth $500,000.  Imagine how often an item like this is sold for $25 at a yard sale.

SECOND, organize all of your original purchase receipts, appraisals and other documentation. For certain art and antiques, this might include old letters or photographs that provide evidence of an item’s history of ownership, which help to establish that the item in question is not a forgery or reproduction and was not illicitly acquired.

THIRD, communicate to your loved ones. Speak with them about what makes your valued possessions valuable, convey the location of documents mentioned in step two above, and then write everything down. It’s important to write everything down, in case something happens to you, because loved ones are often overwhelmed in a crisis and unlikely to remember or all agree in their recollection of what was said.

Here http://bit.ly/inv_valuables is a free workbook-style PDF, from “12 Critical Things Your Family Needs To Know,” for documenting your most important valuables. Anyone is welcome to print this out for their own personal, non-commercial use.

Mark Gavagan is the author of two books that help families organize and plan their personal & financial affairs: “The It’s All Right Here Life & Affairs Organizer” and “12 Critical Things Your Family Needs to Know”.