This Assignment acts as the method of transferring all of your tangible personal property assets (generally such assets do not have a title or an ownership document) to your Trust (thereby avoiding the necessity or possibility of having to probate these assets); this Assignment also transfers your digital assets and/or rights (including any “social media”, on-line accounts and/or email accounts) to the Trust.
The convenient thing about the assignment of personal property is that you do not have to make all of your decisions prior to signing your Will. As time goes on, you may want your wedding ring to pass to a particular daughter – or you may want a friend to get your car – or you may change your mind about another bequest. This is expected to change over time. By creating a specific place to assign your personal property, contained in and referenced by your will, you can go in and edit your bequests at any time, without having to have your entire will re-executed or revised.
Contact one of our experienced attorneys today to learn more.