A will is not always the way – Passing on prized possessions is a tricky affair
You might think that handing down family heirlooms is a problem for the distant future. But you never can tell. One thing you don't want to do is to drive your family apart, which can happen in a dispute over the silverware or a diamond ring.
A will can't do it all, but an addendum to a will can be lengthy and explicit. What's more, you have an opportunity to tell why a certain person should have a certain item. It's called "a memorandum of personal property."
You can also use your smartphone to make a quick video. You can make it elaborate or simple. There doesn't have to be a reason for each piece, but giving one helps others understand your choice.
Before making the video, walk through your home and make a list of items, who gets them, and what you will say. Think about telling the history of an item. This could be a wonderful gift to future family.
Hearing your voice helps heirs to know the choices were really yours.
You won't be able to cover everything you own, so set a method of distribution for the rest. Heirs could take turns picking a number of items with leftovers going to charity.
Another good idea involves giving some of your stuff away now. It's especially helpful if you are moving to a smaller place, cleaning out the attic, or moving to a different home where some things won't fit the decor.
Your kids could take turns selecting; starting with the oldest or youngest or drawing numbers to see who goes first. Then do it in reverse.
Allyson Good curates senior living, health, and family content. She is formerly the Managing Editor of Active Life, a print newspaper published in 2016-2017 for seniors, choosing practical articles on health, money, safety, and everyday living for older readers. She is also an avid gardener and offers up Garden Hints and Tips on a regular basis.
