Introduction: In this article – the third of a three-part series – Jessica Edwards share some ideas to help you plan what to do with family heirlooms and memorabilia after you’re gone. Jessica has had a lifelong interest in her family’s history, and has documented and added more than 37,000 people to her family tree!
In Part 1 of this series, I described some of what I went through in planning what to do with my family heirlooms after I’m gone. I continued my story in Part 2, then started to share some ideas that might help you regarding your own family heirlooms and memorabilia – which I will continue here in Part 3.

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For a number of reasons, these personal possessions are often not specifically accounted for in wills, trusts, and other estate planning documents. In her book Who Gets Grandma’s Yellow Pie Plate? Professor Marlene S. Stum, an expert in family social science at the University of Minnesota, warns of the infighting that can occur when there’s no plan for who inherits these personal effects. She writes:
“What surprises many people is that often the transfer of non-titled personal property creates more challenges among family members than the transfer of titled property. Research has shown that disputes over inheritance and property distribution are one of the major reasons for adult siblings to break off relationships with one another.”
An article I read suggested the following strategy: after making an inventory of all of your belongings, start gifting them during your lifetime: You don’t have to wait until you die to pass on your heirlooms and keepsakes, and you may prefer to give away certain special items while you are still living. By doing so, you get to personally witness the joy your loved ones experience when they receive the gift, and you can also personally explain the reasons you want each person to have a particular item.
Another article suggested making a list to answer the following questions about your heirlooms and keepsakes:
- What is the name of the item?
- When did you acquire it?
- How did you acquire it?
- When and how have you used it?
- Who else has owned it before you?
- Who do you want to give it to when you no longer need it?
- Why do you want this person to receive it?
- What other memories do you have of this item?
- What memories do you have of the people who owned this before you?
One article I read from AARP suggested taking photographs of what you want to gift. That will help you remember and enjoy the items. Also, you can send the photos to people you’re thinking of gifting the items to, to gauge in advance if those people are interested in them. For those that do not get a particular item, a photo at least can be a way of preserving family memories.

Photo credit: https://depositphotos.com/home.html
If your heirlooms and/or keepsakes have a high monetary value, you should keep gift tax issues in mind when you give them away. That said, the IRS has a high annual gift tax exclusion ($19,000 in 2025) and an equally high lifetime exclusion ($13.99 million in 2025), so few people will need to worry about such taxes.
This is far different from inheritance taxes, which are mandatory in certain states (there is no federal inheritance tax). Six states impose an inheritance tax: Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania. Generally, the value of the inherited assets has to exceed a minimum amount before an inheritance tax is due.
Keep in mind, the lifetime exclusion amount of gift taxes will revert to its pre-2018 level of around $5 million per individual in 2026, so if you are considering gifting high-value possessions, you may want to do it sooner, rather than later. In any case, if you have possessions you want to give away that might trigger gift taxes, meet with your financial planner to discuss your options.
Include items in your estate plan using a personal property memorandum. As with other assets you want to pass on after your death, you should include heirlooms and keepsakes in your estate plan by adding them to your will or trust. The best way to do this is by using what’s known as a personal property memorandum.
A personal property memorandum is a separate document that is referenced in your will or living trust. The memorandum allows you to list which items you wish to leave to each individual and detail the reasons you are giving each item. In many states, if it’s properly incorporated into your will or trust, a personal property memorandum is a legally binding document.
My mother’s personal property memorandum, along with the list of items, also included descriptions of why they were important to her and how they were obtained. One suggestion along this line was to either audio or video tape her descriptions, as they will be of later importance to the family.
Furthermore, unlike a will or trust, you can create and update your memorandum without a lawyer’s help. You can change your memorandum as many times as you like – just make sure you sign and date it each time to ensure authenticity (witnesses or notarization can also help). Your memorandum can be as long or short as you like, which allows you to account for even the smallest or seemingly insignificant possessions.
Most types of tangible personal property can be included in your memorandum, but it’s important to note that you cannot list certain assets in a memorandum, including: titled property, such as real estate and vehicles; assets with a beneficiary designation, such as life insurance, 401(k)s, and bank accounts; or intellectual property, such as works protected by a copyrights or trademark. If you are unsure if you should include a certain possession in your personal property memorandum, consult with your financial planner.
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Note on the header image: family heirlooms (not from the author’s collection). Photo credit: https://depositphotos.com/home.html
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