Pass on personal property to loved ones with this free Tangible Personal Property Memorandum for Colorado residents.
Coloradans can use this downloadable, fully editable Tangible Personal Property Memorandum to leave personal belongings to family members, friends, and other beneficiaries as part of their estate plan. This document is designed to work together with a Last Will and Testament and helps simplify the transfer of personal property after death.
Colorado law allows a testator (a person executing a will) to pass tangible personal property to beneficiaries by using a written statement or list referenced in the will, under C.R.S. S. 15-11-513.
What Is a Tangible Personal Property Memorandum?
A Tangible Personal Property Memorandum is a written document used to give away personal possessions that are not real estate, cash, or investment assets. Common items included in a memorandum may include personal property not otherwise specifically addressed in the will, such as:
- Jewelry
- Furniture
- Artwork
- Family heirlooms
- Antiques
- Electronics
- Collectibles
- Household goods
- Vehicles.
Benefits of Using a Tangible Personal Property Memorandum
Using a Tangible Personal Property Memorandum in Colorado offers several important estate planning advantages:
Avoid Rewriting Your Will
One of the biggest benefits is flexibility. If you later decide to change who receives a specific item, you can simply create a new memorandum instead of preparing an entirely new will.
Keep Your Estate Plan Organized
A separate memorandum allows you to maintain a detailed list of personal belongings and beneficiaries in one convenient document.
Reduce Family Disputes
Clearly identifying who should receive sentimental or valuable personal property can help reduce misunderstandings and conflicts among surviving family members.
Easy to Complete
This downloadable Colorado Tangible Personal Property Memorandum template includes step-by-step instructions to help you properly complete and sign the document.
Legal Requirements under Colorado Law
To be effective under Colorado law, the Tangible Personal Property Memorandum must meet the following requirements:
- It must be specifically referenced in your Last Will and Testament.
- It must adequately describe the items and beneficiaries so that your estate executor can know with reasonable certainty which items / beneficiaries are being referred to.
- It must be signed and dated.
The Memorandum should be kept with your original Will and your other estate planning documents (power of attorney, advance directive, etc.)
Download the Free Template
This free template will help you complete your legally compliant Tangible Personal Property Memorandum. The form is:
- Downloadable instantly
- Fully editable
- Easy to use
- Designed specifically for Colorado residents.
Help ensure your personal belongings are distributed according to your wishes with this simple and convenient Colorado estate planning document.
