Making Specific Bequests
Help prevent disputes over personal property and family heirlooms.
If there's one area that can lead to problems and disputes among family members, it's deciding who gets what of the personal property and family heirlooms. For example:
- Which daughter gets that beautiful diamond ring?
- Which child gets that painting over the mantelpiece?
- Who gets the grandfather clock that's been in the family for three generations?
And on and on. Think about it. Are there things you own that you'd like to pass along to someone specific when you die? Or items that you know your children would like to inherit? You can ensure these wishes are fulfilled through clear and specific bequests, which are provisions in your Will for passing things along.
You can actually make your wishes known in various ways: verbal instructions, written notes, audio recordings, even labelling your instructions right on the objects themselves. However, all these methods invite challenge and dispute. The safest way to make your bequests legally binding is to include them in either directly in your Will or a memorandum incorporated into your Will. (As you age or downsize your home, you may consider giving away some of the items while you are alive. Just remember to revise your Will if you do.)
It's also a good idea to discuss your bequests with the people involved. Sometimes an item that you think is very important to someone may actually mean very little to him or her. Or, one of your children might treasure something you value very little.
The important thing is to at least think about these things when you're preparing your Will. If you want to avoid disputes, hard feelings or disappointments among your family, it's the wise thing to do.
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Will Planning Guide
Our Will Planning Guide is a straightforward tool you can use to get a head start before meeting with a legal advisor to write your Will.
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Please keep in mind that this information on Wills is in no way complete. It is simply an overview and does not deal with many of the legal issues involved in creating a Will. This content does not replace the need to contact your professional advisors, such as your lawyer, notary or other qualified advisor.
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