A letter of wishes – should I have one?

What is a letter of wishes?

A letter of wishes is a private, informal, non-binding document that sits alongside your Will.

Why have one?

It’s often a very helpful document to have as it can guide your trustees or executors on how you’d like your affairs handled after you die. Whilst your Will, which is legally binding, states how your estate will be distributed, a letter of wishes is often used to provide more context, including your intentions behind your Will.

A letter of wishes is also a helpful document to have because, unlike a Will, it does not become a public document after you die. As such, a letter of wishes can contain more personal and private information. It also given you the opportunity to express yourself more informally than is necessary with the contents of a Will, and can provide comfort to your loved ones.

As letter of wishes can be changed easily at any time without any formalities – for example, it does not need to be witnessed. It should be signed and dated though. It is important to know, however, that if there’s something in your Will that conflicts with something said in your letter of wishes, then the contents of your Will be prevail.

What is typically included in a letter of wishes?

Here are some examples of what clients typically wish to include:

• Guidance for guardians – such as your aspirations for your child or children’s education and upbringing.
• Information on your pets – such as their likes and dislikes and how you’d like them to be looked after.
• Funeral preferences – such as how and where you’d like to be buried, details of how you’d like your funeral arranged.
• Instructions on how you’d like your personal effects distributed
• The reasoning behind some of the decisions you’ve made in your Will – such as why you’ve decided to give more to one beneficiary than another. This can help to alleviate family tensions, for example, or help to avoid future disputes
• Long term guidance on how you’d like to your trustees to manage a trust.

Summary

A letter of wishes is a very helpful document to accompany your Will. Your executors are not legally obliged to follow your letter of wishes but executors often find it a very helpful document.

Please contact us at info@theburnsidepartnership.com for more details.