Gifting family heirlooms in your Will
When it comes to estate planning, one of the most meaningful ways you can leave a legacy is by passing on treasured family heirlooms. Whether it’s a vintage watch, a piece of jewellery, or a beloved Royal Doulton tea set, these items often carry immense sentimental and historical value. But how do you ensure that these heirlooms are passed on in the way you intend?
In this article, we’ll explore how to gift family heirlooms in your will, the legal and practical considerations involved, and how to avoid common pitfalls.
What Is a Family Heirloom?
Family heirlooms usually fall into one of two categories:
Items of high sentimental value (e.g. handwritten letters, modest jewellery, old photographs)
Items of monetary value passed down through generations (e.g. antiques, designer handbags, watches, valuable art pieces)
When preparing your will, it’s important to reflect on which category your heirloom falls into. If the item holds considerable monetary value—or could cause disagreement among beneficiaries—it’s wise to include it as a specific gift in your will.
How to Gift Heirlooms in Your Will
If you prepare your will with Vicca Law, we provide a Letter of Wishes template to help outline your intentions for specific gifts, including items that may not be explicitly listed in the will. While this letter isn’t legally binding, it provides your executor with guidance and clarity.
For items of substantial financial or emotional value, we recommend listing them as specific gifts directly in your will. This ensures your intentions are formally documented and enforceable.
Common heirlooms we’ve seen gifted include:
Jewellery
Luxury handbags
Collectible crockery or china
Vintage watches
Furniture or artwork
Deciding Who Will Receive the Heirloom
Choosing who should receive a family heirloom isn’t always straightforward. While many people naturally pass items to their children or grandchildren, others may wish to gift heirlooms to nieces, nephews, or close family friends.
If you’re unsure who should receive a particular item—or if you want to leave some flexibility—you can empower your executor to make the final decision. This approach works well when:
You expect family dynamics to evolve over time
You’re concerned the intended recipient may not appreciate the item
You want your executor to consider sentimental connections at the time of your death
Your executor can then assess who the heirloom would best serve, based on your broader wishes.
What Happens if the Gift Fails?
A specific gift in a will can fail for several reasons—if the item has been sold, destroyed, lost, or damaged beyond repair. If this happens, the person named as the beneficiary may seek compensation from your estate.
While this is uncommon, it can lead to delays and additional legal costs. To avoid this, we recommend:
Keeping your will up to date if you sell or dispose of any gifted items
Reviewing your estate plan every 3 to 5 years
Including fallback clauses or alternatives where appropriate
Regular Will Reviews Are Essential
Family heirlooms are often deeply personal, and their significance may change over time. You might sell, upgrade, or pass them on during your lifetime—so your will should evolve with you.
Review your will annually and aim to formally update it every three to five years. This ensures that your instructions are current, your gifts are accurate, and your executor has clear guidance.
Final Thoughts
Including family heirlooms in your estate plan is a beautiful way to honour your legacy. But it’s important to ensure that your intentions are clearly documented and legally sound.
If you’d like to speak with a lawyer about how best to gift family heirlooms in your will, we’d be happy to help. At Vicca Law, we specialise in estate planning that’s tailored to your life, your values, and your legacy.
Book a free consultation with Lydia Vicca at www.viccalaw.com.au.