Great!! Ask about the house titling too. I am dealing now with my dad’s estate. My mom is still living but I am the representative. He had a will and thought everything was all set. Except he forgot to name my mom as the successor to some stock he owned, so…probate! (Having her in the will was not enough. The Transfer on Death instruction had to be on record with the financial institution where the stock is held.) Attorney fees are in the low thousands just so far and it is still ongoing.
My poor in laws thought they had so much valuable stuff, nothing is very valuable when you try to sell it used, not furs, not art, not jewelry, not expensive furniture (especially not furniture!). If FIL had not been such a jerk and tried to micromanage everything and fought moving out of the house, basically fought everything, we probably could have sold some things more slowly and carefully and maximized resale, but, we just had to do all we could do to get them out of the house and sell everything so they could not insist on moving back in.
Oh, and FIL did specifically promise me a particular “collectible”, the star item in the collection and I would have enjoyed that item, though it would not have been valuable for resale like he thought, but I guess he forgot. I could not take it on the plane that trip, planned to get it the next drive trip, at which time it had already been given away to a family friend. I could not be too mad at him, he forgot; I was irritated that the family friend would be given a choice and take the obviously very best piece in the collection without at least checking with all of us kids!
My parents had a house full of nice furniture, early American mostly. They died within three months of each other. Everything was left to the four kids. But one brother died before them, one brother lives half the year overseas and I have a small house 1500 miles away. Nobody wanted anything but my youngest brother so he took it all with our enthusiastic support. Now when we visit him we see something of our parents’ house at his house. I did take the Singer Featherweight but nobody else wanted it.
Reading all these stories reminds me to take my S and BIL out to dinner every time we are near after they did the "3000’ ft to 1600’ purge with my parents.
@Wellspring, if that featherweight ever needs a new home…let me know!
My FIL is selling his home as they are now living full time in Florida. It’s all 1980’s style and full of the fussy wood furniture that was so popular then - Baker, Henredon, Kittinger, Kindle, etc. He has deluded himself that it’s “worth a fortune” because it was expensive - never mind that none of the pieces are unique and that no one really wants that style these days. He had it appraised at an auction house and was disappointed when they told him it was worth way less than what he paid. He thinks he can “shop it around.” We roll our eyes and say - it’s not worth much, just give the pieces away to the grandchildren, who are all twentysomethings in their first apartments/houses. Stuff just isn’t worth a lot in resale. I have to sell my mother’s jewelry and I know already I’ll be lucky if I get 10% of what it was bought for.
Yep, 10% seems to be the going rate. We recently sold all of our furniture on Craigslist, rather than haul it across the country. We got no more than 10% even for our “good” stuff.
Same here, about 10%. Did 3000’ to 1100’ feet last year – wish I’d had @dragonmom 's S & BIL to help. 
@countingdown that one is mine but I bought one at an estate sale last year that might like a new home. I don’t need two!
@Wellspring, we should talk!
My mother just downsized and happily gave furniture from her huge house to whichever grandkids would take it. We paid to ship some stuff not because it made economic sense but because she felt much better if the furniture was being put to good use by her grandchildren (or children).
Per the OP’s original question, there is standard legal language to ensure that if the child dies but has kids, the money he/she would have received is split in equal shares by the kids. That’s definitely in my parent’s will (which I helped them put together years ago). We’ve done it differently (though the net effect is identical, but our situation is more complex.