Wills Sometimes Not the Best Way to Distribute Personal Items
A will is a simple and effective tool for passing down your assets to your loved ones after your passing. However, you should not use a will to create a full, line-by-line inventory of the items you own and what you wish to happen to them.
If you have certain personal items that do not have much financial value, but that you want to make sure go to a certain person, then by all means you may include those items in your will. But there are different strategies you can use to split up the rest of your property not included in a will:
- Speak with your loved ones: Ask your family members and friends what they want of yours, if anything. Chances are your loved ones may feel more strongly about what happens to particular items you own than you do. See if they can come to some agreements among themselves about what will happen with these items.
- Create a personal property list: If there are specific instructions you want to leave behind that would not be at home in a will, you may create a personal property list and share it with your loved ones. The list would note all the items you have and who gets what.
- Create a strategy for other items: Work with your loved ones to create a strategy for how you will determine what happens to other items that go unclaimed after your death. Will there be an estate sale? Will items be donated to charities? It can be helpful to get involved in these conversations before you pass away so you know what will happen to your possessions.
A will is an important estate planning document, but it could be just the beginning of your overall strategy. To learn more, consult a skilled Florida estate planning lawyer with The Charles Law Office.