Family in flux?  How a flexible “letter of wishes” complementing your Will can help

Writing a Will can be a time-consuming and emotional process.  Your Solicitor will help you make sure it is as “future-proof” as it can be, however it’s not always possible to predict changes to your assets or family structure.  You may wish your Marlow collection of classic cars to be passed to your favourite niece, but what if she moves to Australia, or what if you exchange your cars for Oxfordshire farmland before you die? 

This is where a letter of wishes can help.

A letter of wishes is a separate document which sits alongside your Will and provides your executors with guidance about how you would like your assets to be passed to your beneficiaries.  It is not legally binding; however it is flexible; you can alter it whenever you like to reflect your changing circumstances.

Its contents are entirely up to you; you may for example wish to include an explanation as to why you’ve made certain decisions, potentially avoiding issues between family members after you die. 

It is also a useful document for you to set out your personal preferences, for example:

• Where you would like your funeral to take place, whether locally in Marlow or Oxford, or further afield, and whether you’d like a favourite piece of music to be played,
• Who you would like to look after any children, and guidance on how you would like them to be raised, and
• Who should receive specific sentimental items. 

If you are establishing a trust in your Will, you can provide guidance to the trustees on how you would like the trust to be managed within your letter of wishes. 

The letter of wishes is confidential so, unlike your Will, will not become public on your death.  It can therefore be a useful way of keeping the details of your specific assets and wishes private.

If you would like to discuss your Will and would like guidance on an accompanying letter of wishes, please contact Bethan Chant at bethan.chant@theburnsidepartnership.com.