A frequent question that arises concerns leaving a list of personal property which is to go to persons named on the list after death. In Missouri, the law provides that a person can leave a list of personal property with his or her Will designating who is to receive that property after death (Section 474.333 RSMO). The statute relating to Wills does have limitations as to what cannot be on the list (money, evidences of indebtedness, documents of title, securities and property used in a trade or business).
If the person has a trust, then that person can include a list of personal property in the trust, which list would designate who is to receive the personal property upon the death of the Grantor. A trust only affects items that are placed in the trust during lifetime or which become part of the trust after death through a non-testamentary transfer (ie beneficiary deed for personal property). The list of personal property that is part of the trust would not have the same limitation as that applicable to a list left with a Will, that is, one could include on the list money, evidences of indebtedness, documents of title, securities and property used in a trade or business.
A real problem develops if one leaves a list with the Will designating one person or group of persons to receive the items on the list and designates a different person or persons to receive the same items on a list left with a trust. This would create an ambiguity, and the only resolution would be for a Court to try to determine what was the intention of the person who created the documents. A person wants to avoid ambiguities when doing estate planning so that the intentions regarding the disposition of that person’s assets after death are honored.
My suggestion is that if you have a trust, include the list as to who is to receive your personal property with the trust. Make sure you have assigned the personal property to your trust before death or leave a Beneficiary Deed for personal property designating your trust as the beneficiary of your personal property. Do not designate different people to receive the same items of property in your Will and/or Trust.
In preparing your list, you should date and sign it. If you are amending the list, insert language that this list supercedes all prior lists. This will avoid confusion regarding your intentions as to who is to receive your personal after your death.
The information herein is general in nature and is not intended to create an attorney client relationship. If you have questions regarding the matters discussed, please confer with your attorney.