Leaving 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 layout 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!
Keys components of your letter…
1. Locations of Important Legal Documents: Wills, Trusts, Birth Certificates,
Marriage Licenses, Social Security card, etc…
2. Financial Documents: Life Insurance Policies, Bank Accounts, Deeds, etc…
3. Employer Information – Location, Phone numbers, Benefit info, etc..
4. Creditor Info – where you keep “The Bills”
5. And your last wishes.