Is it a good idea to specify in my last will or trust which of my family members will inherit my household goods and personal items? Yes, usually. Those items often have sentimental value well in excess of their monetary value and can lead to family friction. You might consider asking your family who wants what, but they carefully and specifically spell that out in your will or trust. Also, consider that if the monetary value of those items is significant, you may want to subtract that value of those items from the share which that family member will inherit from your total estate.
Your estate planning attorney can explain your options on this subject.
-Attorney Jack N. Alpern
- The Inflation Reduction Act - September 13, 2022
- How Do I Trust Thee…Part II - July 1, 2022
- How Do I Trust Thee…Part I - July 1, 2022