Many Texans have family valuables or heirlooms that are passed down through generations. Whether it’s an antique ring or a grandmother’s china, some people do not think about including these items in their estate plan. However, putting these valuables in an estate plan can reduce family disagreements and simplify potential future issues. Below are some tips and advice from estate planning attorneys on how to handle family heirlooms and why it is better to include these objects in an estate plan.
What Are the Benefits of Including Family Heirlooms in an Estate Plan?
One benefit of listing heirlooms in a will is so the valuables are given to the person the deceased actually intended to receive it. While the individual may tell someone that they want them to have the heirloom after they pass away, there is no guarantee they will receive it unless it is included in the will. This could lead to family fighting where multiple people claim they are the rightful recipient of the heirloom. Only by including the valuables in the estate plan will the estate executor be able to make sure the objects go to who the deceased actually intended.