Many Wills leave personal chattels (jewellery, furniture, art, family heirlooms and similar items) to the Executors to hold and distribute as they think fit, or in accordance with any letter of wishes.
The Letter of Wishes can then set out, and be updated to reflect, exactly who should receive which items, how to resolve competing requests for the same item, and whether unallocated chattels should be sold and the proceeds added to residue.