Jump to Navigation

Contact Form

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Office Location

Aventura Corporate Center
20801 Biscayne Boulevard
Suite 400
Miami, FL 33180

305-932-2293 Miami-Dade County
954-760-7077 Broward County

Subscribe to RSS Feed FindLaw Network

Remember to plan for priceless possessions

In estate planning, individuals often worry about the big picture, such as preparing for the eventual transfer of the high-value items, such as cash, stock portfolios or homes. But residents of Miami and across the U.S. need to ask this question: Who should inherit property that has more sentimental than monetary value?

At least one expert said that after a death, family members argue the most over things that no one outside the family would want, such as the desk where they saw their father work throughout the years. We might not recognize that each of the things we accumulate throughout the years might be of great sentimental value to others.

Those are the items that must be part of an estate-planning document. That also can include family photos and papers. Photos, these days, can be shared with many family members by converting them to digital, so they should be left in the hands of the person who will follow through and complete that task.

Additionally, possessions such as marriage licenses and baptismal records might mean the world to a person's descendants, especially if that person has them from previous generations, as well.

The expert said his most prized possession is a dining table that had belonged to his grandmother, then to his mother. The table had held a special spot in his parents' house, and when his mother died, his father held on to it until he was ready to pass it down to his son.

If he sold that table, the expert said, he might get only $100. To him, however, there is no amount that could convince him to sell it. He said he will keep it until he is ready to pass it down to one of his kids.

Parents and adult children should have a conversation as to what each child would most like to have one day and include those items in their estate plan to keep disagreements from occurring later on.

Source: The Times, "ESTATE PLANNING: Plan for your memories," Christopher Yugo, Aug. 4, 2012

No Comments

Leave a comment
Comment Information