14th JULY 2022
Many people draw up a Will to ensure that their ‘big’ possessions - such as their house or car - are passed on to the right person following their death. However, something that many people fail to realise is that your smaller and less expensive possessions can also be included in a Will.
Disputes over personal possessions are not uncommon during the estate administration process and the best way to ensure that your loved ones do not have to deal with this extra stress following your death is to outline exactly who should receive any items that might cause friction. This could include possessions with great monetary value such as watches and jewellery, or possessions with great sentimental value, such as a wedding dress, photo albums, journals, and family heirlooms.
Still, disputes may arise over sentimental possessions where beneficiaries believe they should be entitled to something that has been explicitly gifted to someone else. To prevent this from happening to the best of your ability, you might include a ‘letter of wishes’ alongside your Will.
A letter of wishes is a letter explaining why you have chosen to give each possession to its beneficiary. This may help your loved ones to understand your reasoning and may prevent them from going against your wishes following your death.