Tangible Personal Property Memoranda

A tangible personal property memorandum (or direction) is a separate document that is incorporated into the will by reference. This means that the will says something like “This will incorporates the provisions of a separate Tangible Personal Property Memorandum....” Then the TPPM is regarded as part of the will. The TPPM is dated and lists items of tangible personal property (e.g., jewelry, artwork, furniture) and the people you want the property to go to.

Many states recognize the validity of such a signed instrument, and usually no formal procedures are required. A few require it to be in existence at the time the will is signed. For those states that do not give full effect to this type of document, the executor usually will attempt to comply as closely as possible with your desires, as indicated by the TPPM. In those states, TPPMs are similar to precatory gifts in your will or trust. If you don’t direct that a certain asset go to a certain beneficiary, but merely express a hope, wish, or recommendation that the asset be given, most courts would hold that the language creates a moral obligation but not a legal obligation.

Here are some things to keep in mind when writing your TPPM. It should not include items you specifically bequeath in your will. You should use it to bequeath personal property such as jewelry, furniture, and clothing. You should not use it to give money, real property, stocks and bonds, etc. Such items should pass through your will. You should clearly describe each item of tangible personal property you list in your memorandum so that it is easily identified and not confused with another similar item. Of course, you should carefully identify each beneficiary, including relationship to you and address, to avoid possible confusion after your death.

If you do use a TPPM, it’s important to remember to make provisions for what happens to any of the property listed if the person who is in line to receive it should die before you do and you neglect to adjust the TPPM accordingly before your death. You may provide for an alternate beneficiary if the first named beneficiary does not survive you, or specify that the gift that the gift lapses (fails) and simply goes back into your residuary estate, to be disposed of as indicated in your will.

To revise a TPPM, you write “revoked” across each page of the old one, sign each page, and include the date of revocation. Attach the new TPPM and make sure it’s kept where it will be found after your death. If you have incorporated the TPPM in your will by reference, some states require you to amend the will to incorporate the amended document.