Getting Your Affairs in OrderA letter of instructions is an informal document that gives your survivors information concerning important financial and personal matters that must be attended to after your demise. As opposed to the other three essential estate planning documents — your will, durable power of attorney, and health care proxy living will — which you should have an attorney prepare, you can prepare a letter of instructions yourself. Although it doesn't carry the legal weight of a will and is in no way a substitute for a will, a letter of instructions clarifies any special requests to be carried out upon death. It also provides essential financial information, thus relieving the family of needless worry and speculation. Information to include in a letter of instructions.
Quicken Willmaker Plus 2019 Edition: Book & Software Kit
Estate Planning Forms, Wills & Trusts
It's a fact of life that we're all going to die at some point. While it's not something you probably want to think about, you can make things a lot easier on yourself and your family if you get everything in order now. Here's what you need to do. Your inevitable demise is hopefully not on your mind too often, but it's still something you should think about long enough to get everything in order. Doing so ensures that everything in your life is organized so others can see what you want to happen after you're gone, what you own, and how to handle a variety of situations. If this sounds daunting, don't worry too much: being unmarried, without children, and without a useful asset to speak of, I was able to get everything in order in about two hours I still had a lawyer friend double-check everything to ensure I wasn't accidentally giving my dog medical power of attorney. The more you own the longer it'll take, but it's not nearly as time-consuming as it looks because most of this stuff you probably already have ready to go.
Organizing Your Records
If you're like many people, you know it has something to do with having a will. A good estate plan goes further and addresses many aspects of your current situation, as well as how to thrive in the years to come. Consider this definition:. Caring for yourself and your assets while you are living, and providing for the transfer of assets to other persons and entities — both during your life and afterwards. When you do, you can:.