Schedule A Consultation Today 425-333-2358

Helping You Plan Your Future And Solve Your Problems

View Our Practice Areas

Sentimental items can be more important than money in a will


When many Washington residents plan their estates, they are focused on preserving wealth so that their heirs will have a good start in life. Certainly, that's a good goal. However, estate planning isn't just about money. In fact, surveys show that the estate assets people care about the most are those with mostly sentimental value.

Allianz Life Insurance Co. of America recently conducted a survey of American adults and found that large majorities were more concerned with non-monetary legacies and inheritances than they were with money. Among Americans age 72 and older, the survey found that 74 percent felt that the part of their legacy that concerned them the most was preserving their family history. Among baby boom-generation Americans, that number stood at 86 percent.

The survey also found that sentimental items were the primary interest of those who stand to inherit. Only 9 percent of baby boomers said they were eager to inherit money.

These results may give a warm, fuzzy feeling, but they point to a less pleasant reality: Many, if not most, disputes over inheritance involve family mementos and sentimental items, not dollar amounts. These disputes are also harder to resolve than purely monetary ones. Sometimes the only way to resolve a dispute over the inheritance of a bank account is to close the account and split the proceeds. That solution won't work if the dispute is over grandmother's old rocking chair - especially when the rocking chair isn't worth anything to people outside of the family.

In estate planning, it's important to consider these items. A Washington attorney with experience in estate planning can help people to make decisions about sentimental items in their wills, but perhaps more importantly, they can help people to discuss these matters with their families before they pass away. When planning one's legacy it's important to minimize the possibility of legal disputes over the estate.

Source: Market Watch, "Your heirs want this even more than your money," Andrea Coombes, Dec. 16, 2013

No Comments

Leave a comment
Comment Information

Make Your Consultation Appointment

To speak with an attorney at Gellner Law Group about estate planning, probate, trusts, wills or tax controversy, contact our law office in Kent, Washington, today. You can call 425-336-2908 or send us an email. We provide representation across the entire Seattle-Tacoma metropolitan area.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Email Us

Kent Office
8407 S. 259th Street
Suite 203
Kent, WA 98030

Phone: 425-336-2908
Fax: 253-852-0400
Kent Law Office Map

Kent Office

Spokane Office
505 W. Riverside Avenue
Suite 500
Spokane, WA 99201

Phone: 425-336-2908
Fax: 509-769-0202
Map & Directions

Spokane Office