Estate Planning and Tax Lawyer Blog

Summer is the time many families gather for reunions, reminding us of the tangible items that make memories: great-grandmother’s silver service, mom’s china, childhood ornaments collected over the years…. all of it contributes to family traditions and memories that make a life.

When doing your estate planning, you should consider the materials things your heirs may treasure in addition to the financial assets they will inherit. Too often, parents or grandparents may be unaware of the value their descendants place on tangible assets and neglect to provide instruction on how they should be dispersed. This has led to many a family dispute, which can easily be avoided with some forethought and planning.

First, you may wish to consider giving these items to their designated recipients before your death. This ensures your wishes are carried out, and gives you the pleasure of seeing your heirs enjoy and benefit from your gifts. If you prefer to designate specific recipients for your tangible assets, you should:

• Identify the items and the intended recipients;

• Write your wishes down and share them with your family members or the executor of your estate;

• Include your wishes in written form in your Will or other estate planning documents.

A qualified Florida estate planning attorney can further advise you of all your options as part of a comprehensive estate plan.