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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 require attention and a degree of flexibility in describing and assigning such things not necessarily called for with real property and financials. Over time you may acquire new tangibles or dispose of others. And the person you initially thought to gift does not want or need the item.

Flexibility is accommodated by using a separate list rather than or in addition to identifying certain items in the body of the trust or will. To have legal effect the list must be referenced by the trust or will. Each item listed must contain a clear, precise description of the tangible(s) to be transferred and clearly identify each recipient. The list must be dated and signed by you.

Clarity can be achieved through initiating discussions in addition to clearly describing each item and the intended recipient on the list. Discussions now for giving later can initiate valuable conversations that can greatly benefit you in your planning for that later giving. Such discussion can also identify and allow you to address areas that could be sources of family squabbles, giving you the opportunity to address them before they develop over what you intended as a loving bequest. Discussions now do not deprive you of making different decisions later.

Giving now those things that you are ready to gift is another means for both flexibility and clarity. And this could give you the pleasure of seeing the gift received and appreciated. It can also give an opportunity to your family members to ask you to share the stories that attach to it; stories that maybe only you know.

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


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