When people prepare a Last Will and Testament, they often focus on property and savings. However, personal belongings can carry just as much importance. These belongings, or Chattels can become an important part of your estate.
What are Chattels?
Chattels are tangible items that you own and use in everyday life. Simply, they are physical possessions that you can touch and move.
These possessions can be:
- Furniture and household items
- Jewellery and watches
- Vehicles (such as cars or motorcycles)
- Art, antiques and collectibles
- Electronics and appliances
- Clothing and personal effects
- Books, memorabilia and hobby items
These items often reflect your lifestyle and personal history. As a result, they can carry sentimental value that goes far beyond their market price.
However, chattels do not include:
- Money or cash
- Bank accounts or savings
- Investments (such as shares or ISAs)
- Property or land
- Business assets used mainly for trade
The law defines chattels under the Administration of Estates Act 1925, as updated in 2014.
Why You Should Include Chattels in Your Will
While personal possessions may seem less valuable than property, they often carry strong emotional value. For many families, disagreements arise over items that hold memories rather than monetary value.
Without clear instructions in your Will:
- Items may fall into the residuary estate
- Family members may disagree over who receives which belongings
- Executors may face delays and uncertainty
- Sentimental items may get sold instead of passed on
What Happens If You Do Not Make a Will
If you do not leave a valid Will, the Rules of Intestacy apply. Under these rules, chattels usually pass to a surviving spouse or civil partner.
If no spouse or civil partner exists, the items form part of the wider estate. They then pass to relatives based on a set legal order. This process may not reflect your personal wishes.
How to Include Chattels in a Will
1. Leave Specific Items to Named People
You can choose to gift particular items to specific individuals.
For example: “I give my gold watch (serial number: 12345678) to my son”.
Where possible, include details such as serial numbers or locations. This works well for items with sentimental or financial value.
2. Leave All Chattels to One Person
Alternatively, you can leave all chattels to one individual.
For example: “I give all my chattels to my daughter”.
However, this may not reflect your wishes for specific items. As a result, the chosen person may need to decide how to share items with others.
3. Use a Letter of Wishes
A Letter of Wishes allows you to guide your executors on how to distribute your belongings. While it is not legally binding, it provides useful flexibility.
You can:
- List items and who should receive them
- Explain the reasons behind your choices
- Update the document easily over time
- Keep your Will clear and concise
However, if the Letter of Wishes conflicts with the Will, the Will takes priority.
4. Include Chattels in the Residuary Estate
If you do not make specific arrangements, any chattels will form part of the residuary estate. Executors may then sell these items and distribute the proceeds in line with the Will.
This option suits simpler estates or situations where items hold little sentimental value. However, it does not allow for personal wishes or emotional attachments.
Valuing Chattels for Probate
Executors must value all assets, including chattels, for Probate and Inheritance Tax purposes. The valuation should reflect the open market value at the date of death. In other words, it represents the price the item would realistic achieve if sold at that time.
In practice:
- Everyday items can be grouped together for a reasonable estimate
- Items worth around £500 or more may require professional valuation
- Vehicles should be valued used recognised industry guides
- High-value items (such as jewellery or art) should be assessed by specialists
Accurate valuations help avoid issues with HMRC and protect executors from potential liability.
Do You Need a Will?
Our experienced team is here to help you protect your legacy with expert will writing and estate planning advice. Contact us today to speak with a specialist and discover how our personalised solutions can give you and your loved ones peace of mind.
01452 698 989 | office@willguardian.co.uk | Facebook
This article is for general informational purposes only and does not constitute legal or financial advice. While we aim to keep our content up to date and accurate, UK laws and regulations are subject to change. Please speak to a professional for advice tailored to your individual circumstances. Will Guardian accepts no responsibility for any issues arising from reliance on the information provided.