A letter of instructions is an
informal document that benefits both you and your survivors by providing
specific, detailed information necessary for making your funeral arrangements
and settling your affairs according to your wishes. It should not, however, be
regarded as a substitute for your will, but rather as a supplement to your will.
Like all estate planning documents, it should be reviewed and updated
periodically.
My I.C.E. Plan can help you in creating a Letter Of
Instructions by gathering the most important information needed when one passes
on. The LOI-FIN (Letter of Instructions and Financial) section contains most if
not all the data that is needed to create a well executed letter that can be
left your survivors.
The Letter
of Instructions may be kept with your will if you have one and in a safe
location that others can get at. Keeping documents in a safe deposit box may not
be the best location for them to be stored since most
banks will prevent access once they
hear the owner of the box as deceased . They will do this
even if there is joint ownership. It is a state law in most states. Check with your attorney regarding
this law for the state and area you live in.
A copy of
the letter can be kept with a relative or friend you trust and in place
outside of your own location. This will prevent loss to the letter if one of the
location is destroyed from a fire or other disaster. Keeping the
letter with a lawyer may not also be the most desirable choice. If the
death occurs on a week end or off business hours, contacting the lawyer's office
may be difficult. The Letter of Instructions should be something you would want
handy because death arrangements usually are made within a day or two or
sooner. Since the letter contains much data regarding the funeral it should be
rapidly available. Your survivors should know where the letter is located and
how to get at it, i.e.: safe combinations etc.
See Creating Letter of Instructions
for detailed
help
