Tangible Personal Property

What Is Tangible Personal Property?

Tangible personal property refers to physical items that a person owns and can move or touch. These items are not attached to land or real estate and exist in a physical form.

Examples commonly include jewelry, furniture, electronics, vehicles, collectibles, and household goods.

In estate planning, tangible personal property is often addressed separately in wills or trusts because these items may have both financial and sentimental value.

Why It Matters

Tangible personal property can represent meaningful personal assets that families wish to distribute thoughtfully after death. Without clear instructions in an estate plan, disputes may arise among heirs regarding ownership of these items.

Estate planning documents can specify who receives certain personal belongings to avoid confusion or conflict.

How Tangible Personal Property Works

In estate planning, tangible personal property may be distributed through:

instructions in a will
a trust document
a separate personal property memorandum referenced in a will

Executors or trustees are responsible for identifying these items and distributing them according to the estate plan.

If no instructions exist, the property may be distributed according to probate rules.

Example

A will specifies that a family heirloom watch goes to one child and a collection of artwork goes to another.