Support Local Journalism!        

Link to Owner Dr. Robert B. Pamplin Jr.

FONT & AUDIO

MORE STORIES


This article brought to you courtesy of Paula Walker of Confluence Law Center, Gresham Outlook Insider Estate Planning Expert.

{img:324212

What means more may not always have high financial value.

Very often a client's focus is on those items that are of relatively little monetary value, but of great sentimental worth.  At times the discussion of this type of personal property eclipses discussing the transfer of financial assets.

Your assets consist of two broad categories, real property, and personal property. Personal property is divided into intangible property (financials) and tangible. I often find that tangibles, items representing family history, a favorite painting, wedding rings, grandmother's antique chest, the tea set, the grandfather clock mean more to my clients and occupy more of the conversation in planning as regards what passes to whom.

In general, tangibles are personal property that can be felt or touched, and are moveable, i.e., can be physically relocated. These as opposed to intangibles, those assets that cannot be directly felt or touched e.g., stocks, bonds, bank accounts etc. regardless that they may have a paper embodiment. Tangibles can include everything from furniture, collectibles, clothing, and other personal effects in a home; boats, movable machinery, manufactured homes, and vehicles; as well as living creatures such as livestock and our treasured animal companions, i.e., "pets".

The core value contained in those tangibles often are many true-to-heart connections that bear intense consideration for their care and their passage.

Your Life. Your Legacy. Your Way.

Teleconferencing Options for Estate Planning.

Confluence Law Center here to help you at the confluences of your life.

Serving Clackamas, Hood River, Wasco, Deschutes, Multnomah, and Washington Counties.

}

Confluence Law Center

24461 E. Welches Road, Suite 4

P.O. Box 964

Welches, OR 97067

503-616-3113

www.confluencelawcenter.com

Go to top
JSN Time 2 is designed by JoomlaShine.com | powered by JSN Sun Framework