One of the most challenging jobs for a successor trustee or personal representative of an estate: dividing personal property among the beneficiaries or heirs. If you’re in charge of administering an estate, how do you decide which of your siblings gets the silver, who gets the antique furniture, and how you’re going to handle thousands…
A close family member has died, and you are in charge of administering personal property of the estate. How do you handle the challenge? If your family member left a will, it might give you some direction. Many wills (in Arizona, at least) take advantage of the ability to make a list of personal items…
Your personal property is just, well, property. That means that if your will says (paraphrasing) “I leave all my stuff to my mother” that will include those personal effects. But consider what will actually happen to your furniture, your Moon Audio setup, even your car. And what about family antiques and your personal collectibles? Technically,…
Have you completed a personal property list to go with your will (and trust)? It’s an important part of your estate plan.
JULY 21, 2014 VOLUME 21 NUMBER 26 When you create a revocable living trust, you usually want to transfer most (maybe even all) of your assets to the trust — especially if one of the reasons for creating the trust is to avoid the probate process. A new deed to your home, a change in…