personal effects vs. personal property

[Dustin]

nys - will states one party to receive all personal effects. paperwork received which we are supposed to sign refers this same party receiving all personal property. i am fairly sure there is a difference. am i correct? thank you.

 

[ALawyer]

You are right. New York's Estate Powers and Trust Law defines at Sec. 1-2.15 Property: Property is anything that may be the subject of ownership, and is real or personal property.

The EPTL does not define personal property, but that term would include many items that go beyond the usual definition of the term "personal effects" and could include valuable art and likely stock, bonds, CDs, etc.