What Happens to Your Stuff After You’re Gone? Understanding Probate Assets and the Power of Personal Property Planning

When most people think about estate planning, they focus on major assets like homes, bank accounts, and investments. But what often goes unmentioned — and unplanned for — are the everyday belongings tucked away in closets, attics, and display cabinets. These include family heirlooms, collectibles, furniture, and even sentimental knick-knacks.

These tangible, personal belongings frequently hold emotional significance and can become flashpoints for conflict during probate. If left unaddressed, they can turn what should be a peaceful transition into a divisive and painful process for families.

What Are Probate Assets?

Probate is the legal process that follows someone’s death, involving the validation of their will, settling of debts, and distribution of their assets. Probate assets are any possessions that do not automatically transfer to someone else, typically those not held jointly or lacking named beneficiaries.

These can include:

• Real estate titled solely in the deceased’s name

• Bank and investment accounts without designated beneficiaries

• Vehicles, business interests, and tangible personal property, such as jewelry, furniture, art, and household goods

According to the American Bar Association, unless an item is jointly owned or clearly directed to a beneficiary through estate planning documents, it likely passes through probate.

The Underrated Role of Personal Property in Probate

While personal property is often viewed as “less important” than financial assets, it is frequently the leading cause of emotional disputes after someone dies. Research from the University of Minnesota Extension reveals that tangible personal property is more likely than money to lead to family conflict, especially in cases where items carry sentimental value.

A 2022 survey conducted by Trust & Will found that:

• 82% of Americans say they own sentimental items they want to pass down

• But 68% have not made a list of who should receive these items

• 49% of respondents said they have experienced or witnessed family conflict over an estate

This disconnect between intention and documentation is at the heart of why personal property becomes so problematic during estate settlement.

Why Wills Alone Aren’t Enough

Many wills include generic language like:

“All personal belongings shall be divided equally among my children.”

This sounds fair, but it’s functionally vague. What does “equally” mean? Who chooses first? Do children draw lots for sentimental items like a wedding ring, or auction them off and split the cash?

Without specifics, executors are left to interpret the deceased’s wishes. That ambiguity often leads to resentment, conflict, and in some cases, litigation.

The Power of a Personal Property Memorandum

A personal property memorandum is a tool allowed in many U.S. states. It’s a separate document referenced in your will where you can itemize possessions and specify who should receive them. The key benefits:

• It’s easy to update without amending your will

• It provides clarity for your executor and family

• It helps ensure your intentions are followed

However, for it to be legally binding, your will must reference the memorandum, and the list should be signed and dated. Despite its usefulness, this tool remains underused. According to Caring.com’s 2024 Estate Planning Report, only 32% of adults have any kind of estate plan, let alone a detailed personal property memorandum.

Data-Driven Estate Planning: Making the Process Easier

Technology is helping to close the gap between intention and execution. Platforms like SaveOr are designed to help families proactively manage personal property decisions, particularly during downsizing, aging transitions, or estate preparation.

Key data-backed benefits of platforms like SaveOr:

• Collaborative inventory creation: A 2023 study published in the Journal of Elder Law found that family collaboration significantly reduces conflict in estate planning when parties are involved in inventory and decision-making beforehand.

• Digital documentation: According to the Insurance Information Institute, having a digital home inventory can speed up insurance claims by up to 50% and helps ensure adequate coverage.

• Legacy storytelling: Items aren’t just things — they carry stories. Documenting them can preserve family heritage, an idea supported by multiple gerontology studies linking life review with improved well-being for seniors.

SaveOr in Practice: Bridging the Gap Between Legacy and Logistics

SaveOr enables users to:

• Photograph and catalog belongings

• Assign future recipients

• Record stories or audio notes about the items

• Enable family members to express interest or leave comments

• Build a digital personal property memorandum

For example, in one documented case (shared with permission), a couple moving into a Maryland senior living community used SaveOr to document their belongings and share access with their children and grandchildren. The family was able to express preferences, approve donations, and decide collaboratively — avoiding confusion and creating a more peaceful transition.

Final Thought: Sentiment Is Not a Legal Strategy

Planning for your tangible personal property is just as important as handling your finances and legal documents. These are the items your loved ones will touch, hold, and remember you by. Failing to plan for them creates a vacuum where emotion often takes over, leading to avoidable conflict.

Whether through a formal legal memorandum or a digital inventory tool like SaveOr, the key is clarity, communication, and documentation. Because while your family may not fight over your IRA, they just might over your favorite armchair.

Author:

Matthew Scola

Founder of SaveOr, an estate planning platform focused on helping families through challenging life events. His insights come from interviewing and working with families and professionals to find a solution to the challenges of downsizing, estates, and estate management.