Letter of instruction: preparing your intentions for your estate

PART II: FINANCIAL DETAILS Your family or estate administrator also needs to know the facts about your finances. You could include the names and phone numbers of your employer, attorney,

financial planner, insurance agent, or stock broker. A list of your pension plan, bank, brokerage, or retirement accounts will help your administrator know where to look for assets for your

beneficiaries. Include instructions on how to get in touch with any beneficiaries to your accounts. To make your administrator’s job easier, explain where you have located your important

documents, such as your Social Security statement, birth certificate, will, trust, deeds, life insurance policies, income tax returns, citizenship papers, marriage license, divorce decree,

or military discharge papers. You also should include information about any debts, such as your mortgage, credit card accounts, or car loans. You’ll want to include as much detail as

possible. For example, if something is in your safe deposit box, tell what bank, the box number, and where the key is located. If you have important documents on your computer, what are the

file names or passwords? A detailed letter will save your administrator a lot of time and trouble—and reduce fees that the accountant or attorney may charge your estate. This means more

money for your family. PART III: PERSONAL EFFECTS The third part of your letter helps eliminate family feuds over the relatives and friends you want to have your personal items. We all have

heard stories of family fights erupting over how to divide family pictures, necklaces, the stamp collection, or the wedding gift from Uncle Bill. The items may not have monetary value, but

getting them to the right person can make a big difference to you—and to them. If you want to make sure that your granddaughter gets the pearl necklace you got for your high school

graduation, or you have already promised your best friend that she gets your figurine collection, put your wishes in your letter. Be sure to leave instructions about care for your pets.