Personal Property Memorandum in Colorado Estate Planning
- Lucas Green
- Aug 19
- 3 min read
When it comes to estate planning in Colorado, most people immediately think of houses, retirement accounts, or life insurance policies. But one of the most overlooked (and most contested) categories of assets after someone passes away is personal property such as heirlooms, jewelry, tools, collections, furniture, and keepsakes that carry deep sentimental value. A powerful way to handle these belongings is with a Personal Property Memorandum. This tool works alongside your will or trust and ensures that your family has clear instructions about who should inherit your personal items.
What Is a Personal Property Memorandum in Colorado?
A Personal Property Memorandum (PPM) is a legally recognized document in Colorado that lets you decide who will receive your tangible personal property after your death. It is used in conjunction with your will or trust with said documents referencing the memorandum to give it legal effect.
The key benefit is flexibility. Unlike your will or trust, which requires formal witnesses and execution, a personal property memorandum can be updated anytime. This means you can make changes as your property or your wishes evolve without going through the entire amendment process and having to pay an attorney their hourly rate.
Why a Personal Property Memorandum Matters
Many families assume they will “work things out” after a loved one’s death. Unfortunately, personal property is often one of the biggest sources of disputes in probate. Unlike money, which is often divided equally, personal belongings are unique because there is only one wedding ring, one guitar, or one photo album.
By including a Personal Property Memorandum in your Colorado estate plan, you:
Reduce family conflict by giving clear instructions on who receives specific items.
Save time and money since you don’t have to update your will or trust each time you want to change the distribution of personal belongings.
Provide peace of mind knowing that your wishes for both sentimental and valuable items will be honored.
Ensure legal enforceability as long as the memorandum is referenced in your will or trust and properly signed and dated.
How to Create a Personal Property Memorandum in Colorado
Here’s how the process typically works:
Set up your will or trust with an estate planning lawyer. Your will or trust must reference the memorandum for it to be enforceable.
Write out your memorandum. Usually, this is a simple list or table where you describe each item and the person who should receive it.
Example:
Grandmother’s diamond ring → to X Person
Woodworking tools → to Y Person
Cherry dining table → to Z Person
Sign and date the memorandum. While notarization isn’t required, your signature and date are necessary for validity.
Store it safely. Keep it with your other estate planning documents.
Update as needed. You can change or replace the memorandum anytime without having to re-sign your will or trust.
Why Work With an Estate Planning Lawyer in Colorado Springs?
While a Personal Property Memorandum seems simple, it only works if it is set up correctly within your estate plan. At Evergreen Law, we ensure your Colorado estate planning documents work together to protect your wishes and make things easier for your loved ones.
The Personal Property Memorandum is one of the most practical and flexible tools in estate planning. If you are ready to create or update your estate plan to reduce uncertainty and conflict, Evergreen Law is here to help. Contact us today to schedule a free consultation with a Colorado estate planning attorney in Colorado Springs and start protecting your property and your family.
