12 Items Baby Boomers Can Safely Leave to Their Children in Their Wills

March 27, 2024

As Baby Boomers approach the stage of life where estate planning becomes a significant consideration, the question of what to leave behind for their children becomes paramount. Beyond mere financial assets, Baby Boomers often seek to pass on cherished heirlooms, family businesses, and other sentimental items that hold deep meaning and heritage within the family. In crafting their wills, Baby Boomers have the opportunity to not only provide financial stability for their children but also to impart valuable treasures that reflect their personal stories and legacies.

In this listicle, we explore twelve items that Baby Boomers can safely leave to their children in their wills, encompassing both tangible assets and intangible heirlooms that serve as a testament to a lifetime of memories and accomplishments. From family heirlooms to digital legacies, these items represent the essence of what Baby Boomers can bestow upon the next generation, ensuring a lasting impact that transcends mere material wealth.

1. Family Heirlooms

Pass down sentimental items like jewelry, watches, or antique furniture that hold significant emotional value and heritage within the family.

2. Real Estate

Consider leaving the family home to your children as a lasting legacy and potentially a valuable asset for their future.

3. Investments and Stocks

Transfer ownership of stocks, bonds, or other investment portfolios to provide financial stability and growth opportunities for your children.

4. Artwork and Collectibles

Pass on valuable art pieces, sculptures, or collectibles that can appreciate in value over time and serve as a meaningful inheritance.

5. Family Businesses

If you own a family business, ensure its continuity by passing it on to the next generation, allowing your children to carry on the family legacy.

6. Retirement Accounts

Designate beneficiaries for your retirement accounts such as IRAs or 401(k)s to provide financial security and support for your children’s future.

7. Life Insurance Policies

Even the end of our lives is a financial event. There are usually medical bills, funeral expenses and other debts after someone dies. By leaving behind life insurance policies, you ensure your children assistance in covering those expenses. In addition, funds from your policy may provide a financial cushion for your children or spouse.

8. Trust Funds

Set up trust funds for your children to manage and distribute assets responsibly, providing them with financial support and guidance beyond your lifetime.

9. Vehicles

Transfer ownership of cars, motorcycles, or other vehicles to your children, offering practical assistance and potentially sentimental value.

10. Recreational Properties

If you own a cabin, boat, or other recreational property, consider leaving it to your children to continue enjoying cherished family experiences.

11. Valuable Books or Collections

Passing on a collection is passing a piece of who you are. Whether it is valuable books, stamps, baseball cards or Mason jars your collection will preserve your connection to your loved ones. In addition, you might just spark the interest of one of your descendants.

12. Digital Assets and Memorabilia

In passing on family history and memories, do not forget digital records and online accounts. Include digital assets such as photos, videos, or online accounts in your will. That will ensure that your children have important links to a part of who they are.

Lasting Legacy

By incorporating them into your estate planning, you can leave behind a meaningful and lasting legacy. Your children and future generations will benefit from that legacy. Resulting in both financial stability and sentimental treasures to cherish for generations to come.

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Max Erkiletian

Max K. Erkiletian began writing for newspapers while still in high school. He went on to become an award-winning journalist and co-founder of the print magazine Free Bird. He has written for a wide range of regional and national publications as well as many on-line publications. That has afforded him the opportunity to interview a variety of prominent figures from former Chairman of the Federal Reserve Bank Paul Volker to Blues musicians Muddy Waters and B. B. King. Max lives in Springfield, MO with his wife Karen and their two cats. He spends as much time as possible with his kids, grandchildren, and great-grandchildren.