What are goods and chattels?
Most people collect a lot of ‘stuff’ throughout the course of their lives. Much of these personal possessions fall under the definition of ‘personal chattels’.
Personal chattels are defined by s55(1)(x) of the Administration of Estates 1925 as amended by the Inheritance and Trustees’ Powers Act 2014. This definition broadly covers all ‘tangible moveable property’ other than property used solely or mainly for business purposes or held as an investment.
When it comes to dealing with personal chattels in the will there are a few options available:
1. They could be left to the residue to be distributed but this could cause disputes between family members. Disputes about the destination of chattels can often turn bitter, often because of the sentimental value attached to them.
2. The chattels could be gifted specifically in the will, but it may be impractical to make a long list of chattels and their
recipients. It is also impractical for the testator to execute a codicil or a new will every time they wish to change the destination of a chattel or add or remove a chattel or beneficiary.
3. Leave all the chattels to a specific person, usually the executor, with a request that they distribute the chattels according to a separate letter of wishes left with the will.
At Assured & Legal we use option 3 as a matter of default as it allows for the writing of a letter of wishes giving direction and as such can be changed if wishes change without altering the will.
It should be noted that digital assets such as images or sound files on a laptop, tablet or computer are not classed as chattels under the current definition but we incorporate an amendment to include such and instruct your executors to look for a letter of wishes if there is one.
