If I give someone real estate in my will or trust, does the personal property inside the home automatically get gifted with the real estate?

Nov 30

The answer is generally no.

Most wills and trusts have separate provisions for personal property vs real property (I.e., buildings and land). So when reviewing or creating your own will or trust, you’ll want to keep an eye out for two separate provisions or articles: one reference “tangible personal property” and the other referencing real estate or “real property”.

You should also be aware that most wills or trusts (or at least the ones in Massachusetts or New Hampshire) often have something called a “memorandum of wishes” or “memorandum of tangible personal property” which is specially designed to carve out certain sentimental items (like jewelry, religious items, artwork, etc.) to be given to specific beneficiaries.

The great thing about the memorandum of wishes is that it is a separate document legally incorporated into your will or trust, but can be updated at any time (generally without requiring a notary or attorney) without requiring you to update your will or trust. Please note, if you do have a separate memorandum of wishes, it should only be used for tangible personal property like the sentimental items mentioned above. The memo should not be used for cars, cash, or real estate.

If you found this video on estate planning informative and helpful, don’t forget to explore more valuable content on my YouTube channel. Click here to access more insightful videos dedicated to estate planning. Whether you’re looking for tips on Wills, Trusts or inheritance strategies, Perennial Estate Planning is your go-to resource for all things related to protecting your family’s future. Subscribe today and never miss out on essential estate planning advice!