  We propose a stochastic approach for the description of the time evolution of
the magnetization of nanomagnets, that interpolates between the
Landau--Lifshitz--Gilbert and the Landau--Lifshitz--Bloch approximations, by
varying the strength of the noise. In addition, we take into account the
autocorrelation time of the noise and explore the consequences, when it is
finite, on the scale of the response of the magnetization, i.e. when it may be
described as colored, rather than white, noise and non-Markovian features
become relevant. We close the hierarchy for the moments of the magnetization,
by introducing a suitable truncation scheme, whose validity is tested by direct
numerical solution of the moment equations and compared to the average deduced
from a numerical solution of the corresponding stochastic Langevin equation. In
this way we establish a general framework, that allows both coarse-graining
simulations and faster calculations beyond the truncation approximation used
here.
