Articles
Leaving Personal Items to Beneficiaries in The Will
by Golden Memorial A business that feels like a familyNo matter what you own in life, it is crucial to plan for what would happen to those things when you are gone. Fortunately, you do not really need to make an exhaustive list of all those things, especially personal belongings.
In Florida, personal items such as furniture, painting, jewelry, dishes, etc. may not be included in a will. But these may still create contention between siblings or grandchildren for the emotional attachment these items possess. And to avoid any future arguments, you may, however, be able to draft a list of the possessions as a personal property memorandum.
This record can be modified over time as required. You may add any newly acquired items, and the drafter can also get a witness to sign the document, not necessary though.
Most states make it mandatory to validate the memorandum and add a clause in the will, referring to a separate memorandum to dispose of personal property directly. If it is the parents’ will in question, they may ask kids for any items that they have a special attachment to. This helps prevent any bitter feuds amongst the surviving family members.
Besides assets or personal belongings, a funeral insurance policy is something you can consider leaving for the beneficiaries. It takes the financial burden off your family’s mind, leaving them with a non-taxable income source to settle your final bills. You can anytime invest in a suitable policy, no matter you are 18 or 50 in age. It is an excellent deal!
Moreover, if there are no names, the policy may not be considered part of the estate and is left to benefit the surviving family members. If there is no such policy, the savings or legacy left behind is used to pay the liabilities, including the funeral costs of the deceased.
Including any assets or other bequest in the will would demand professional legal advice for precise paperwork and distributions. Florida laws work differently than most other states, so you would want to be sure at every step. You may want to contact professional and high-skilled funeral insurance companies in Florida in the case of insurance. For leaving other tangible items, consult a competent attorney practicing in Florida to help you write a will.
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About Golden Memorial 
A business that feels like a family
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Created on Oct 15th 2020 01:20. Viewed 241 times.
