Platteville, Wisconsin
15 West Pine Street
Platteville, WI 53818
(608) 348-9506

A Comprehensive Guide to Tangible Property November 13, 2018

Platteville, Grant
A Comprehensive Guide to Tangible Property, Platteville, Wisconsin

When drafting critical estate planning documents, it’s easy to overlook tangible property. Unlike investments accounts, stocks, securities, and real estate, most people don’t consider tangible property to be part of their life savings. Additionally, it can be hard to quantify the total value of these belongings. As a result, many people fail to include them when distributing assets to loved ones. Unfortunately, it’s often tangible property that sparks disputes among beneficiaries because of its sentimental value. Here is what you should know about distributing these belongings to mitigate conflict during probate. 

What Is Considered Tangible Property?estate planning

In estate planning, tangible property refers to personal belongings like jewelry, furniture, collections, clothing, appliances, and automobiles. In other words, it includes everything but intangible property, or assets like investment accounts and real estate. Distributing your tangible property may not seem as important as bequeathing major assets like vacation homes and stocks, but such property likely means a lot to your surviving loved ones. 

How Should Tangible Property Be Distributed?

You can distribute tangible property however you wish. The easiest way to account for it in your estate plan is to leave it all to one individual, like your spouse or child. Few people have such a simple family dynamic, though. Fortunately, if you want to leave certain items to specific individuals, you can draft a Tangible Personal Property Memorandum; however, to ensure this document is unambiguous and legally binding, it is wise to turn to an attorney for help. 


If you want to learn more about distributing tangible property and other assets, turn to the estate planning attorneys at Scott & Heenan in Platteville, WI. Since 1999, they have been representing clients throughout Grant County in a variety of areas. In addition to estate planning, they handle cases that fall under personal injury law and criminal law. To view all the legal services they provide visit their website and then call (608) 348-9506 to schedule your initial consultation. 

Other Announcements, Events and Deals from Scott & Heenan LLC
What to Do If You're Cited for a Traffic Violation, Platteville, Wisconsin
From a driver stopped for speeding to a pedestrian ticketed for crossing against the light, several infractions result in a traffic violation. While many are tempted to write a more
FAQ on Boundary Disputes, Platteville, Wisconsin
Many people use a fence to contain their property and mark the edges of the land. However, neighbors sometimes get into boundary disputes when putting up barriers or taking more
What Should You Look for in a Criminal Attorney , Platteville, Wisconsin
If you have a loved one that is facing a criminal charge, you should hire a criminal law attorney that is best equipped to represent them. Knowing what to look for simplifies more
Your Guide to an OWI Charge in Wisconsin, Platteville, Wisconsin
If you are facing an OWI charge, you’re likely concerned about the future. From fines and license revocations to potential jail time, the possibilities alone are more
What You Need to Know About Underage OWIs in Wisconsin, Platteville, Wisconsin
Most people understand how critical it is to avoid getting behind the wheel after they’ve consumed alcohol. If not, they’ll need the help of an OWI attorney to avoid significant more