Letter of Wishes

A Letter of Wishes is a non-binding document that accompanies a will or trust. It provides guidance to executors, trustees, and beneficiaries on how the testator (the person who made the will) would like their estate to be managed and distributed. While it doesn’t have legal standing, it can be incredibly useful in ensuring that the testator’s personal preferences and intentions are respected.

Key Points About a Letter of Wishes:

Purpose:

Guidance: It offers detailed instructions and personal insights that might not be appropriate or necessary to include in the formal will.

Flexibility: Unlike a will, which is a legal document, a Letter of Wishes can be updated easily without the need for legal formalities.

Content:

Personal Messages: It can include personal messages to family members or friends, explaining the reasons behind certain decisions.

Specific Instructions: It can provide specific instructions on matters such as the care of dependents, distribution of personal belongings, or even funeral arrangements.

Trustee Guidance: For trusts, it can offer guidance to trustees on how to manage the trust in line with the testator’s wishes.

Benefits:

Clarity: It helps to clarify the testator’s intentions, reducing the potential for disputes among beneficiaries.

Personal Touch: It adds a personal touch to the formalities of a will, allowing the testator to communicate their values and wishes more intimately.

Ease of Update: Since it is not legally binding, it can be updated as often as needed without the need for legal assistance.

Limitations:

Non-Binding: It is important to remember that a Letter of Wishes is not legally enforceable. Executors and trustees are not legally obligated to follow it, though they often do out of respect for the testator’s wishes.

Confidentiality: Unlike a will, which becomes a public document after probate, a Letter of Wishes remains private, which can be both an advantage and a limitation depending on the circumstances.

How to Write a Letter of Wishes:

Start with a Clear Introduction:

State the purpose of the letter and its relationship to your will or trust.

Be Specific and Clear:

Clearly outline your wishes and the reasons behind them. The more specific you are, the easier it will be for your executors and trustees to follow your guidance.

Update Regularly:

Review and update your Letter of Wishes regularly to ensure it reflects your current intentions and circumstances.

Consult with Professionals:

While it is not a legal document, consulting with a legal professional can help ensure that your Letter of Wishes complements your will or trust effectively.

A Letter of Wishes can be a valuable tool in estate planning, providing a way to communicate your personal wishes and ensuring that your legacy is managed in accordance with your values and intentions.

Feel free to get in touch if you have any more questions or need further assistance!