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Bequeathing Gold

Posted: Thu Mar 27, 2014 7:39 am
by dualstow
Does anyone know of a standard way of wording the bequeathment of gold in a will, or do you just leave that to the lawyer?
I haven't updated my will since I got into the pp and I really should.

Re: Bequeathing Gold

Posted: Thu Mar 27, 2014 7:49 am
by annieB
"I leave all my gold to annieB".
That should do very well..

Re: Bequeathing Gold

Posted: Thu Mar 27, 2014 9:52 am
by dualstow
LOL. There's a friend of the family named Anne B. I think she would be quite astounded that I picked her!

Re: Bequeathing Gold

Posted: Thu Mar 27, 2014 12:03 pm
by WildAboutHarry
Never leave anything to the lawyer :)

You can certainly identify items and their recipients if you want.  If you have a trust you usually have a pour-over will that handles all non-trust property.  I think.

Maybe you need the lawyer after all.

Re: Bequeathing Gold

Posted: Thu Mar 27, 2014 8:36 pm
by dualstow
If I may ask, how are you handling it, WAH?

Re: Bequeathing Gold

Posted: Fri Mar 28, 2014 6:37 am
by WildAboutHarry
We have a family trust that holds the "big" stuff (real estate, taxable investment accounts), with a pour-over will for the balance.  Some accounts (IRAs, 401(k)s) pass per the beneficiary listed on the account (so it is important to periodically check to be sure the right beneficiaries are named).

As I understand it (naturally not having actually tried it yet :) ) the trust describes beneficiaries that will receive trust-held property.  The will "pours" other assets into the trust to be distributed per the trust upon my/our demise.  So this would include your personal property, your vehicles, your Aunt Matilda's antique sideboard, your sack of Krugerrands, etc.

And of course we have left precise GPS coordinates to the location of the boating accident where all our gold was lost.

Re: Bequeathing Gold

Posted: Fri Mar 28, 2014 8:28 pm
by dualstow
Hmm, I should consider this.