What is a Memorandum of Personal Property?
When you prepare your estate plan, one of the things that you’ll need to consider is how you want your personal effects to be distributed, including jewelry, collectibles, antiques and art work, even your pets. If you have specific people in mind to receive certain items, then you’ll need to spell out your wishes in a separate writing called a Memorandum of Tangible Personal Property. Disadvantages of Making a Personal Property List in Your Will or Trust Why not just put the list right in your Last Will and Testament or Revocable Living Trust? Because if you later decide that you want to change who gets what, then you’ll need to sign a formal Codicil or Trust Amendment. By using a Memorandum of Personal Property instead, you’ll be able to change who and what’s on the list without worrying about the formalities required to sign a Cod
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