Personal Property Memorandum

Use your Estate Plan to share what you love with those who share the passion

 in Estate Plan  tagged inheritance / Personal Property Memorandum

Do you find peace on long hikes, slow bike rides or gardening? Do you love books or films, collect coins or stamps? What hobbies are you passionate about?

Whatever those loves, you likely shared them with some of the people close to you.

Those friends you hike with, bike with, or enjoyed the intricacies of coins with… These are people with whom your friendships are special.

As you create you Will, after going over your financial assets consider using your Estate Plan to go beyond — to pass your belongings to the great people you shared those hobbies with.

You can use it to say thank you to the people who have touched your life—by sharing something of that hobby or passion with.

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Don’t overlook memories as an important part of an Estate Plan

 in Estate Plan  tagged heirloom / Heirs / inheritance / memories / Personal Property Memorandum

When thinking about an Estate Plan most people think primarily about their large financial assets: Real property, bank accounts, investment accounts, family businesses, etc.

Often though, the most heart-wrenching family rifts and disputes are not over the money, but over the little things that have little or no monetary value.

Your parents’ wedding rings, grandma’s heirloom candlesticks, mirror, or locket… These are the items that end up costing families more in harsh words, hurt feelings, and legal fees than any expensive property or valuable bank account.

These are the items that have a high emotional value — but many parents or grandparents don’t consider this when making out their Wills or Trusts.

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Don’t let your valuable antiques end up in a yard sale

 in Estate Plan  tagged antiques / Personal Property Memorandum

Have you seen Antiques Roadshow — the PBS TV show in which antique experts travel around the country to critique and appraise antiques brought in by local people? If so, you’ve seen people bring in an old knick-knack they found in grandma’s attic and discover it’s worth hundreds or thousands of dollars!

Now imagine that for every person who makes this valuable discovery on the show, there are at least three people who sell their own unrecognized treasure for a few dollars at a yard sale. It’s painful to consider, isn’t it?

How can you ensure that your family recognizes the value of your treasures?

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