You can cover most of your estate planning wishes through a few legally binding documents, such as a will, powers of attorney and, perhaps, a trust. More options do exist, of course.
Yet you probably have a few thoughts bouncing around in your head that you are unsure how to cover. This is where a letter of instruction can be invaluable. While it is not legally binding, it can help those you leave behind understand a little more about your wishes. Here are some of the things it could detail:
How you want your send-off to be
Do you hate big funerals where people who have hardly seen the deceased in years come to pay their respects in a somber atmosphere? Would you prefer to invite only a few people who you really cared for and who truly cared for you, and give them a fun occasion to remember you by? You can use your letter of instruction to spell your plans out. While there is no guarantee that people will stick to it, it will certainly make it much more probable they do.
An easy-to-understand guide to your estate plan
Legal documents can be confusing to the layperson. Writing in plain English what your executor needs to do and where they can find all the information they need will make things simple for them and the beneficiaries who depend on them to do a good job. Important contact numbers and a list of all your assets and their locations are just some of the helpful pointers you can leave in your letter.
Learning more about estate planning can help you make one that works for you and your family.
