Note found apart from will

As executor for mother's estate with six adult family beneficiaries I have obtained the original copy of the will which simply directs the residual estate be divided equally. Upon opening the safety deposit box, a dated and signed handwritten note directing specific items go to specific family members was discovered. Is the note viewed as a codicil? As executor am I bound to carry out the wishes of the note? Are the designated items to be valued as part of the total estate or are they viewed as gifts?

It's going to depend very much on what state you are in. First, IF the dated note was made before the will, AND the will specifically referred to the note, then it will be valid in any state as an 'incorporation by reference.' But, even if it was made after the will, it will be valid in Uniform Probate Code (UPC) states -- about 30 states, as long as it was signed by the testator. Either way, it is not technically called a 'codicil.' As to whether you have to carry it out, again it depends on your state law. As to your second question, I'm assuming your discussing "total estate" for the purpose of federal estate taxation. If so, then yes ALL PROPERTY is technically included in the "gross estate." However, practically speaking, if the item are of little value -- no single piece > $3,000 and total not > $10,00 then unless you sell the items as executor, you probably do not need to report it on the estqte tax return. By the way, what state are you in? I am in Illinois...if you are in IL, I can give you a more specific answer as to the will question. Good luck.

Thanks for replying so promptly. I am in Alberta, Canada. The note found apart from the will is dated 5yrs after the date of the will and the note is also signed. The will does not refer to the note specifically. The will only speaks of gifts or codicils in part (b) where it directs that "all taxes be paid out of the capital of the estate in connection with any property, insurance or gift or benefit given or conferred by me either during my lifetime or by this my will or any codicil hereto". Even if the note is not viewed as a part or codicil to the will, the fact remains that it still reflects the wishes of the deceased. The question then is: are the designated objects to be included as a portion of the equal sharing of the residual estate (for the purposes of the beneficiaries)or are the objects just that, gifts, hence do not really have a dollar value relative to the balance of the estate? Otherwise, those designated something of value, may in essence be penalized when it comes to distributing the balance of the estate.?

Sorry, I have no clude about Canadian law. See if you can find yout what the requirements for a valid will are. A short consultation with an attorney may do the trick.

I have no idea what the law is but my mother passed away two years ago and she had given us kids what it was she wanted us to have before she passed. These were things that had special meaning to us as individuals and she knew that. As far as what you may want to do, if I were in your shoes I would give them what she has listed in the note and don't worry about what is may be worth. I will guarantee you that it will bring more happiness to you and your siblings than any amount of money ever could.
I hope you take this to heart and give the gifts the way your mother intended. Please don't let this start a rift between you and your siblings, it just isn't worth it. Good luck!

When I originally posted this real scenario I was faced with, I did not want to indicate to the readers how I personally felt; but in light of the family resolving the issue, I would like to share the following: Of the six children 3 thought the items should be treated as gifts and not valued (including me) the other three felt they should be part of the overall residue of the estate as the will did not specifically refer to the note. Fortunately, we all felt family relations were more important thant the items and both sides softened their positions to a point where there was agreement those mentioned in the note would get what was wished them, and there would be a small token value attached to be deducted from their share of the residue. Everyone was in favor, so the story has a happy ending. My appreciation to those who replied for their feedback.