MORE INFORMATION ON WHAT A TANGIBLE PERSONAL PROPERTY LIST IS FOR, HOW TO MAKE ONE, AND WHY IT’S A GOOD IDEA
Some time back I posted information about making a tangible personal property list to go with your will. It’s an efficient way to make gifts of personal items such as collectibles, family heirlooms, jewelry, even a grand piano or a car.
Since I wrote that post, I have had a number of clients ask me about how to handle their personal items in their estate plans. I even had a couple who wanted to change their wills, and were relieved to learn that they didn’t have to, to make provisions for tangible personal property.
Whether or not you will need to change your estate plan documents to make provisions for your personal items depends on how your estate plan is set up. Don’t assume that you don’t need to make any changes. If you have tangible items that you want to leave to particular individuals, consult your estate planning attorney.
Since it seemed timely, I decided to devote my newsletter this month to a fuller explanation of the tangible personal property list. My new Estate Planning Law Report is posted, as it is every month, in the publications section of deconcinimcdonald.com.
Your comments are always welcome.
The contents of this blog, this web site, and any writings by me that are linked here, are all my personal commentary. None of it is intended to be legal advice for your situation.