Legacy Objects: Transfer planning for non-financial assets

What is a “legacy object”

A legacy object is a physical item with value that is not held in a normal financial account:

• art, jewelry, watches
• collections (coins, stamps, whisky, wine)
• heirlooms with sentimental weight
• furniture, instruments, memorabilia
• anything that can trigger disputes or border issues

Estate planning for these items is different because:

• many have unclear title history
• value depends on condition and documentation
• some are restricted from movement or sale

ACTEC describes tangible personal property as physical assets like furniture, vehicles, electronics, and jewelry, and notes that including provisions for them in an estate plan helps smooth inheritance and prevent disputes.

The real problem: your heirs inherit confusion, not objects

When people die, families do not fight over your brokerage account. They fight over:

• who promised what to whom
• “mom told me that ring was mine”
• objects that carry emotional meaning

Add cross-border heirs and the chaos doubles.

So the goal is not just “who gets what.” The goal is:

• clarity
• legality
• operability, meaning your heirs can actually take possession, store, ship, insure, and sell if needed

Step 1: build an inventory that is good enough to survive court and customs

Your inventory should be boring and precise:

• item description, photos
• identifying marks, serial numbers
• materials (important for wildlife restrictions)
• location (which country and which storage)
• current condition summary
• any paperwork, provenance, authenticity, service records
• who you want to receive it, and why

This inventory becomes the spine for probate, insurance, and customs compliance.

Step 2: decide how you want distribution handled

There are three common structures. You can use more than one.

Option A: specific gifts in the will or trustThis is clean for a small number of high value objects. It can get messy if you have a large collection.

Option B: executor or trustee discretion with a letter of wishesIn the UK context, it is common for wills to give executors discretion over personal possessions, often guided by a memorandum of wishes rather than hard commands. This reduces legal rigidity but increases the need to choose a trusted executor.

Option C: personal property memorandumIn many U.S. states, people use a personal property memorandum to list who receives specific personal items; it can be easier to update than a will, but whether it is binding depends on state law and how the estate plan is drafted. General consumer guidance explains the concept and its purpose.

Blunt truth: a “list” only works if your executor will follow it, and if your jurisdiction recognizes it. So treat it as a tool, not magic.

Step 3: plan for estate administration reality, not fantasy

In the UK, government guidance stresses you should only distribute an estate after debts and taxes are paid or you are sure the estate has enough to pay them; executors can be personally at risk if they distribute too early.

Practical effect:

• your executor may need to hold objects for months
• storage, insurance, and security matter immediately after death
• “who gets it” can be delayed by estate cash flow needs

So your plan should include:

• who pays for storage and insurance during administration
• where the items physically sit
• who has keys and access

Step 4: handle the cross-border compliance traps upfront

Legacy objects often contain restricted materials or trigger cultural property controls.

CITES and wildlife materialsIf an item contains a specimen of a CITES-listed species, cross-border movement may require permits and must comply with entry and exit rules.

UK guidance states that CITES permits or certificates must be presented to customs when they enter or leave Great Britain, and that designated ports must be used for moving CITES-listed specimens. U.S. Fish and Wildlife Service guidance explains you must have a valid CITES document to engage in international trade in CITES specimens, subject to regulations and exemptions.

Operational takeaway:

• heirs cannot “just ship it”
• if they try, they risk detention or seizure, and some jurisdictions do not fix missing permits after the fact

Ivory rulesIf an object contains ivory, sale and movement can be heavily restricted.

UK government guidance explains you need evidence and must register items under exemptions to deal in items containing ivory, with thresholds like pre-1947 items with less than 10% ivory and pre-1975 instruments with less than 20% ivory, among other rules. UK legislation sets the framework for the Ivory Act exemptions process. There is also UK guidance for applying for an exemption certificate for certain pre-1918 items of outstandingly high value, with updates as recently as May 2025.

Operational takeaway:

• if you own ivory-containing items, your heirs need a plan file, not a guess

Cultural export licensingCertain cultural objects require export licences from the country of departure, depending on age, value, and category. UK guidance states you need a UK export licence to export objects of cultural interest from Great Britain to outside the UK.

Operational takeaway:

• even lawful heirs can get blocked if they try to move culturally sensitive objects without licences

Step 5: make the objects “bankable,” even if nobody will ever borrow on them

Bankable means: insurable, sellable, and movable.

To do that, you create a “life file” for each major object:

• provenance and authenticity documents
• condition reports and photos
• receipts and appraisals
• storage and insurance records
• permits and licences if the object includes restricted materials

This is the paperwork premium applied to legacy planning.

Step 6: reduce family conflict with a simple process

Here is the conflict-minimizing system:

1. pre-allocate “sentimental picks”Let heirs select a small number of personal items early, with rules. This reduces later fights.
2. professional valuation for high value itemsNot for ego; for fairness and tax reporting.
3. one decision authorityEither executor discretion with guidance, or a family committee with a tie-breaker.
4. sell the rest transparentlyIf items are to be sold, do it through known channels, and document fees and results.

Step 7: plan the “keep vs sell vs donate” routes now

Legacy objects usually end up in one of three paths:

KeepNeeds storage plan, insurance plan, and cross-border movement plan.

SellNeeds custody, authentication, and venue plan. Also needs compliance readiness if the buyer is in a different country.

DonateNeeds charity selection and paperwork, and sometimes export licensing or other compliance.

If you do not choose, your executor will choose under pressure.

Ship asset: Legacy Objects Transfer Checklist

Inventory and records

• photo inventory with identifiers and materials
• provenance, receipts, authenticity, service history
• updated valuations for major items

Legal instructions

• will or trust language for tangible property distribution
• letter of wishes or memorandum guidance where appropriate
• name an executor who can handle conflict and logistics

Storage and custody

• where items sit during estate administration
• who has access, how condition is protected

Cross-border compliance

• CITES exposure checked; permits and designated ports planned
• ivory exposure checked; registration or exemptions planned
• export licence needs checked for cultural objects

Legacy objects are “small” only to the person who does not have to administer them. For heirs, they are logistics, paperwork, and emotion in one box. The winning plan is boring: inventory, clear instructions, and compliance files for anything that crosses borders. If your heirs can prove what the object is, prove they own it, and prove they are allowed to move it, then the object can actually become a legacy, not a lawsuit.