Why Are Letters Of Instruction Important?

Of all the ways to plan for your future, drafting a will or trust is one of the best. Creating a comprehensive estate plan also provides a great deal of protection for your family members in the event that you pass away. During this difficult time, your loved ones will have to make many difficult decisions and your estate plan can provide them with the guidance they need.

While many people first think of wills and trusts when drafting their estate plan, they often overlook a letter of instruction. Below, our Daytona Beach estate planning lawyer explains what these letters are, and what to include in yours.

What is a Letter of Instruction? 

Unlike wills and trusts, a letter of instruction is not a legal document. It is simply a ‘cheat sheet’ that outlines your final wishes in the simplest of terms. For example, if you want your child to inherit your home after you pass away, you can include this in your letter of instruction. While these instructions are not legally binding unless you also include them in a will or trust, a letter of instruction is in plain terms and so, they are often easier to understand than legal documents.

Benefits of Drafting a Letter of Instruction 

Letters of instruction have many benefits. Firstly, they can include information that is not contained in your will, such as where your loved ones can find important documents such as your will or Social Security card. They can also inform your loved ones of your funeral preferences. Including these instructions in your will means your family will learn of them too late.

It is also easier to make changes to a letter of instruction than it is to a will or trust. They also do not have a set structure and do not require court approval. This can make it easier for your loved ones to understand your final wishes.

What to Include in a Letter of Instruction 

There are many different details to include in your letter of instruction. These are as follows:

• Where your will, trust, and other estate planning documents are located
• An explanation of your property for your surviving spouse, and how you use that property
• A list of names and contact information for important individuals and companies such as your attorney, bank, accountant, family members, and friends
• As much information as you can provide regarding bank accounts, business affairs, CDs, safety deposit boxes, and important documents and contracts
• A list of life insurance policies, employment pension benefits, and the contact information for them
• Where to locate separation agreements or divorce settlements
• Where tax returns are located
• A list of all beneficiaries and their contact information

Our Estate Planning Lawyer in Daytona Beach Can Draft Your Important Documents 

Creating a comprehensive estate plan can become complicated, which is why it is important to always work with a Daytona Beach estate planning lawyer. At Bundza & Rodriguez, our experienced attorney can draft all of the documents you need and ensure that you and your loved ones have the protection you need. Call us now at 386-252-5170 or chat with us online to schedule a consultation and to get the legal help you need.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html