One of the elements of a will for most people focuses on specific bequests of personal property. In layperson’s terms, this is the part of a will that designates who is designated to receive specific items of personal property. For example, a person may desire a piece of jewelry to go to a specific person when he or she passes away.
There are a number of considerations to bear in mind when it comes to addressing the specific bequests of personal property. This includes a strategy that makes it easier for you to amend these types of specific bequests.
Specific Bequests: A Personal Property List
The reality is that you are likely to want to make changes regarding specific bequests of personal property from time to time. What you don’t want to have to do is change the provisions in your will each time you want to adjust personal property bequests.
In Pennsylvania, you have the ability to prepare a list of personal property bequests, referencing such a list in the will itself. By taking this course, you have the ability to amend the list of personal property bequests as necessary without adjusting the content of the last will and testament itself. You are able to forgo the expense and time associated with amending a will.
Reviewing the List on Regular Schedule
A key to addressing the issue of personal property bequests is making sure your list of these specific bequests is current. Your live evolves and changes over time. Not only are you likely to accumulate personal property items over time, your relationships with certain individuals are also subject to change.
Scheduling at least an annual review of your list of specific bequests is a wise course to take. Indeed, reviewing your entire estate plan on at least an annual basis is a recommended course of action.
Consult a Pennsylvania Estate Attorney
Making certain that your wishes are honored after you die is best ensured when you obtain professional legal assistance. A Pennsylvania estate attorney can ensure that you put in place the most suitable estate plan. This includes developing an appropriate strategy to address specific bequests of personal property. A Pennsylvania estate lawyer will schedule an initial consultation with you at no obligation and no charge.