Planning for Life

7 Ways to Divvy Up Your Stuff

Posted by Harry S. Margolis on April 23, 2019

By Harry S. Margolis

estate planning - soft goods -Margolis & Bloom

When you die, your possessions will go to your heirs. Savings and investments are easy to divide up since they can be turned into cash. While real estate is more difficult, it can be turned into cash by selling it or co-owners can share it. But the most difficult items to divvy up are your personal possessions -- silverware, dishes, artwork, furniture, tools, jewelry -- that are unique rather than fungible. In legal speak these are known as "tangible personal property" and  can become the focus of family feuds, often one or more children claiming that a parent had promised them a particular item.

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Topics: will in massachusetts, will, tangible personal property

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