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, even your bank and brokerage accounts are “personal property.” The term only excludes the other category, real property. Even most of the things inside your real property (your house) are still personal property.
In our experience, people often fail to give much consideration to what will happen to smaller, physical items like furniture, household contents and the like. Your possessions are likely worth a lot less than you think. But when you add sentimental value, your family might haggle and disagree over what to do with it all.
On the other hand, our experience suggests you might see the opposite problem. Your family may not be the least bit interested in your furniture and collectibles — even though they are precious to you, and the family knows that.
What does all this mean? We think you spend some time thinking about what will happen to your personal property when you die. You might even talk with your family about it, and adjust your planning accordingly.