There are many different tools you can use to help explain to people the goals of your estate. The most basic of these is your will, which articulates who will receive guardianship of any minor children, who will serve as your personal representative or executor handling the administration of your estate and what happens to your assets.
However, a letter of instruction may be one supplemental estate planning document that can help to communicate vital information to your heirs and fiduciaries. You may choose to write multiple letters or consolidate them into one.
How Does a LOI Help with Estate Planning?
For example, you may wish to provide a letter of instructions to any trustees who will be managing trusts for minor parties, to help explain the goals that you have for those minor beneficiaries.
Your letter of instruction helps you communicate to loved ones your wishes, thoughts, wisdom and belief. However, it’s a very narrow way to be your letter of expression as only accomplishing this goal. You may wish to leave behind specific instructions for someone serving as a health care agent who is eligible to make medical decisions for you if you’re still alive, but unable to do so, and a separate letter of instruction for someone who will be handling any financial matters if you become unable to speak for yourself.
Choosing an Estate Planning Attorney to Draft Documents
Make sure to discuss all of your appointed key parties and to construct a comprehensive estate plan that establishes all of these goals. As your needs change over time, having a relationship with an established estate planning lawyer will make it much easier to keep these materials up to date. Our Massachusetts estate planning office can help you talk through all your options with a letter of instruction and other estate planning tools.
