I have been working on a Will for a new client. She had a Will executed just a few years ago. That Will contained maybe 50 bequests of specific property, things like furniture, furnishings, and jewelry. She wants to change the Will because some of her beneficiaries have died, and because she wants to remove and add others. In order to accomplish this, we will have to draft an entirely new Will or a Codicil. Codicils are seperate documents that alter the terms of a Will. I never reccommend these because what happens if a person has executed one or more Codicils, but the Codicils are not found with the original Will? The Codicil is not worth anything and the terms of the original Will are followed if this happens.
Dispersing tangible property like this is much easier if it’s done within the context of a trust:
1. As part of the living trust process, we assign the client’s tangible personal property to the trust.
2. The trust includes a provision allowing the client to leave a written direction, telling where specific items will be distributed upon his death. The trust also contains a default provision for items not listed in the written direction.
3. Because the written direction is not part of the Will, it isn’t subject to the execution formalities of a Will. The above written direction can be changed as often as the client wishes, by the client (so no attorney involvement is needed) — it’s really just a note, left with the client’s other important papers.
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