THE PERSONAL PROPERTY MEMORANDUM
What is it and how do you use it?
Have one, or several, personal items that you want to ensure pass to certain people upon your death?The personal property memorandum is a tool that allows you to designate specific personal items that will pass to the people of your choice. The best part is that you can fill out the memorandum yourself, and you can add to it, change it, or modify it as often as you want without retaining an attorney to do so.
Not sure what personal property to put on the memorandum?Examples may include giving your coin collection to your best friend, your wedding ring to your only child, your antique gun to your nephew, your cedarwood chest to your neighbor, or wall-art to a co-worker. Just be sure to write down and describe the piece of property with enough detail and state to whom the property is going.