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Transfers of personal property should be considered carefully to avoid family disputes.
In the ACTEC survey, the majority of respondents indicated they spend less 20 minutes discussing tangible personal property with their clients.
An example of a statement of meaning can be found in George Washington’s handwritten will to describe the gift of a sword and the responsibility that came with it.
On average in the United States, inheritance lasts somewhere between 36 and 48 months.
If clients are careful and transparent in their TPP intentions, they are more likely to have family disputes after their passing.