What is a tangible personal property memorandum under the UPC?

A tangible personal property memorandum under the Uniform Probate Code (UPC) serves a specific purpose in the distribution of a decedent's assets. This memorandum allows a testator to specify how certain tangible personal property—items that are movable and not classified as real estate—will be distributed upon their death.

This is particularly useful for items such as jewelry, art, furniture, and personal effects that may hold sentimental value. The memorandum acts as a supplemental document to the will and can be created or modified more easily, allowing for flexibility in how personal property is addressed without the need to amend the will itself. It ensures that the testator's wishes regarding those items are respected and carried out after their death.

In comparison, the other options do not align with the definition of a tangible personal property memorandum. A document that lists real estate properties does not encompass the intangible personal property focus. A formal contract detailing asset distribution generally implies a more complex legal agreement than what the memorandum entails. Lastly, a list prohibiting the distribution of personal assets is contradictory to the purpose of a memorandum, which seeks to clarify and facilitate the distribution of such assets, not restrict it.