The University of Wyoming is an equal opportunity/affirmative action

institution.1

TRANSFERRING PERSONAL PROPERTY

Bill TaylorCommunity Development Area EducatorUW Cooperative Extension Service

University of Wyoming2

Who Gets My Personal Stuff?

We all have personal items that are important or precious to us or to those that are associated with us

In estate planning, personal items are often ignored, yet they may cause some of the most significant emotions and conflicts

University of Wyoming3

Families and Personal Inheritance

Inheritance is not simply an economic and legal issue and personal items are a major part of the process

Complex emotional and family relationships impact decision making

Inheritance decisions concerning personal property involve economic and emotional consequences and can enhance or destroy family continuity

University of Wyoming4

Families and Personal Inheritance

There tends to be less stress and emotion if a plan is developed before death

While property holder is of clear mind and sound health, if possible

University of Wyoming5

Unique Challenges for Personal Property Transfer

Sentimental meanings make decisions more emotional

Objects involve the process of grieving and saying goodbye

Objects help preserve memories, family history and family rituals

University of Wyoming6

Unique Challenges for Personal Property Transfer (cont.)

Being “fair” is more complex:– Personal belongings have different meanings– Difficult to measure worth or value– Impossible to divide items “equally”

Distribution methods and consequences are less-clear

University of Wyoming7

What is Non-Titled Property?

Personal items that do not have a registered title, such as land or vehicles

Non-titled property includes items like:– Guns - Linens, needlework,– Tools quilts– Furniture - Clothes– Books, papers - Jewelry– Dishes - Tack– Collections - Photos, pictures– Hobby items - Personal care items– Anything that has emotional and/or economic value

HANDOUTS