When a loved one passes away, family disputes often arise—not over large assets, but over sentimental personal items. It’s not unusual for arguments to erupt over a favorite coffee mug, a piece of jewelry, or a painting. Fortunately, you can avoid these conflicts by creating a personal property memorandum to accompany your will or trust.
What Is a Personal Property Memorandum?
A personal property memorandum is a legal document that specifies who should inherit items that don’t have a formal title or ownership record. This includes tangible personal property such as:
- Furniture and artwork
- Jewelry and collectibles
- Household items like china, silverware, or tools
However, a personal property memorandum cannot include titled or financial assets such as:
- Real estate or business interests
- Cash, bank accounts, or investment accounts
- Stocks, bonds, IOUs, or intellectual property rights
How to Write a Personal Property Memorandum
When preparing your memorandum, keep it clear and simple. The document typically lists each item alongside the name of the person you wish to receive it. You may write it by hand or type it, but it should always be signed and dated.
To avoid confusion later, include specific details about each item—such as its description or location—and provide complete contact information for each beneficiary. Do not include any items that are already mentioned in your will or trust, as that could create conflicts.
The Flexibility of a Personal Property Memorandum
One of the greatest advantages of a personal property memorandum is its flexibility. Unlike a will, which often requires formal amendments, you can easily update your memorandum at any time.
- If you change your mind about who should receive a certain item, simply create a new list.
- You can destroy older versions or keep them with signatures and dates to show your most current intentions.
This flexibility allows you to maintain control over your belongings without the need for complex legal updates every time your preferences change.
Why You Should Include a Personal Property Memorandum in Your Estate Plan
Adding a personal property memorandum to your estate plan helps:
- Prevent misunderstandings and family disputes
- Ensure sentimental belongings go to the right people
- Keep your estate plan organized and legally sound
It’s a simple yet powerful tool to communicate your wishes clearly and protect family harmony after your passing.
If you’re ready to create a personal property memorandum or update your estate planning documents, our team can help. We’ll ensure your wishes are legally protected and your plan is complete.
📞 Contact us today at (207) 848-5600 or visit our Contact Page to schedule a consultation.
