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A memorandum is a document that can be used with a will or living trust to leave specific property to certain loved ones.

Generally, a memorandum is not used to transfer real estate, business interests, or bank accounts. Instead, a memorandum may be used to express your specific wish that a certain relative or friend receive a particular item of personal property. For example, you may have a diamond necklace that you want your daughter to have after your death, but that you do not want to gift her during your lifetime. Similarly, you might have a piece of artwork that you want to keep in your home now but that you want your son to own after your death. Family heirlooms such as china, silver, or specific pieces of furniture may also be included in memorandums.

If You re Are Going to Create a Memorandum Then You Need to Do it Right

You likely have important reasons why you want certain people to inherit individual pieces of your estate. Thus, it is important to make sure that:

  • Your intentions are clear. Your bequest and the named beneficiary should be unambiguous.
  • You sign and date the memorandum.

If you have already left specific bequests in your will then there is no need to repeat them in a memorandum.

You are creating a memorandum because you have clear goals about who should receive individual pieces of your estate. You deserve to know, with certainty, that your wishes will be honored. Please contact us today. We are happy to answer questions via a live chat or you can submit a contact form if you would like us to contact you. We also always welcome your phone calls to our office at 714-459-5481.

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Due to the CoVid19 virus California has issued a Stay-at-Home order. We understand how important the health and safety of our clients, and our staff is. We are complying with this order by continuing to work from our homes. While we are not in the office, we are still here to answer your questions, conducting consultations for review, and initial appointments by phone and email during normal business hours. We know that in this time, more than ever, it is important to have peace of mind about your estate planning. We are here to help you through this. Call our office number or email us and we will respond as quickly as possible.