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

Paula Walker

Tangibles—why handled separately?

Tangibles are called out and handled specifically and separately from your real property or your remaining financial assets, because their very nature is a complex mixture of financial value and emotional attachment. Because of their shared sentimental value, they harbor an inherent potential for family conflict where several family members desire a particular item.

Though highly subjective, fairness is an important consideration …. the value of a tangible may be in the mind and heart of the beholder(s), not the worth that can be objectively appraised. Even those items that have an objective value to assign, may have an importance beyond that monetary value. Tangibles can be those unique ties with parts of our lives that hold deep meaning to us and connect us to moments we hold special. They may have high financial value (our engagement ring, the antique clock etc.) and they may not (the little flower vase that grandmother had in her kitchen window).

An excellent website to check out follows, published by the University of Minnesota Extension Service to help families make good decisions in distributing "tangibles" with a sensitivity to their family's particular and unique circumstances. Titled: "Who Gets Grandma's Yellow Pie Plate?". www.youtube.com/watch?v=z3NNoVRQpI8

Your Life. Your Legacy. Your Way.

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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

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