Leave Memories, Not a Mess
Over the next 50 years, an estimated $45 trillion is expected to pass through estates to heirs and charities, the largest transfer of wealth in history.
That alone justifies the importance of having estate documents in place, such as a will, powers of attorney for health care and finances, and possibly trusts.
However, there is a document you need to create that will help your heirs understand and carry out your wishes during a difficult time: a letter of instructions.
It is not a legal document, but a letter of instructions allows you to lay out what you want to see happen with your money, body, burial and other details that are not specified in your will or trust.
This letter should also contain where important financial documents are located, provide the names of all your financial advisors, attorneys, accountants, and names of people to contact in the event of your death.
Once you have written your letter of instructions, take the time to review and update it annually.
As life changes, the letter will need to be changed. Be sure to store your letter in an accessible location (not a safety deposit box) known to your family and address it to your spouse, a family member, or a close friend.
Remember, your will addresses many important legal matters and may not be the most appropriate place for your personal requests.
Writing a letter of instructions can help ensure that your final wishes are done right and will help your family through a very difficult time!
Key components of your letter:
Locations of important legal documents: Wills, Trusts, Birth Certificate, Marriage License, Social Security card, etc.
Financial Info & Documents: Life Insurance Policies, Bank Accounts, Deeds, etc.
Employer Information: Location, Phone numbers, Benefit info, etc.
Creditor Info: Where you keep “The Bills”
And your last wishes
Contact my office today to assess the key components needed in your letter of instructions.