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In addition to planning for the distribution of your financial assets, consider making a list of your personal belongings and think about your preferences for distribution.
If you would like a certain items to go to a specific family member or friend, then you can write down your wishes for the distribution of those personal belongings.
Another way to accomplish this task is to encourage family members themselves to decide in advance “who wants what.” Here’s one way to do it.
The Who Wants What List
1. Make a list of all the personal belongings that you feel would be of interest to your family.
2. Distribute copies of the list to all immediate family members.
3. Ask each family member to write a 1, 2 or 3 next to each item.
4. Compile the responses of your family members into a master list.
5. If only one person wrote the number 1 next to a specific item, then it can go to them.
6. If more than one person had a number 1 for the same item, encourage them to work out among themselves who will receive it.
Compiling the list and using this process can help start the communication that will allow your loved ones work through what could be a very challenging process after your death. Sharing your wishes can also be very helpful for everyone.