People who are creating an estate plan should ensure that they have everything in order so their assets can be distributed in accordance with the plan. Typically, the estate plan will include the will and trusts that provide that information.
Many people don’t realize that there’s another document that can be very helpful to their loved ones. This is the letter of instruction. While this isn’t a legal document, it’s one that can help them considerably. Be sure that someone knows where to find this letter so they can get to it when they need it.
What should you put in a letter of instruction?
The letter of instruction can be accessed if you become incapacitated or pass away. It doesn’t go through the court so it can include information to guide your loved ones. Just remember that this isn’t legally binding so you still need to provide instructions in your estate plan components.
Things that you may include in the letter of instruction vary greatly. The document may contain information about where to find bank accounts and how to access those. It may also contain instructions about your funeral or memorial service. You can even write your own obituary and put it in the letter of instruction.
Creating your estate plan means that you need to think about various aspects of your life. You need to get all the components in order so your loved ones know what to do when you pass away. Working with someone who’s familiar with this area of law is important so you understand how you can clearly and legally convey your wishes.