I just finished reading a great book on estate planning called Smart Women Protect Their Assets by Wynne Whitman, an estate planning attorney in New Jersey.  The book is a fun read that breaks down the estate planning process into bite-sized, easy to understand chunks.  Although I disagree on a few things she mentions in her book (after all, ask any 3 experts in any profession and you’re likely to always have some differences in their advice), I’m going to start recommending this book to all of my friends and family who don’t know how to get started in planning their estate to protect their loved ones.  I even have a link on my website where you may order the book directly from Amazon.

 One of the ideas Wynne suggests in her book is preparing “Letters of Instructions” to your loved ones following your death.  This is a road map to everything your loved ones need to know following your death.  I’m always impressed by the thoughtfulness of clients who take the time to put important information together for their families saving them lots of headaches and stress.

Here are some ideas on what you should include in your Letters of Instruction:

•  List of your professional advisors (including your attorney, accountant, financial advisor, life insurance agent, etc.) and other people, including friends and family, who should be notified following your death.  Include phone numbers and addresses.
• Make a list of where all of your important papers, such as your Will or Trust, deeds, stock certificates, titles and other legal documents, are located.  If you’ve done planning with me, you probably have an Estate Organizer Binder which has most of your important papers already.
• List of all of your death benefits your family is entitled to upon your death, including life insurance policies, retirement benefits, annuities, etc.  Be sure to include account numbers, beneficiary information, and contact information for your life insurance agent, plan administrators, human resources directors, etc. 
• Location of all of your account passwords and user names or other information to access online accounts.
• Location of hidden items such as cash, jewelry, collectibles, etc.
• List of all assets you own or have an interest in and estimated value thereof.
• List of all your creditors, including credit cards, mortgages, lines of credit, etc.
• Bank and brokerage accounts and account numbers.
• Organizations that may provide a death benefit such as Veterans Administration, unions or social organizations.
• Your safe deposit box and key.  (Make sure you have some other than yourself listed on your safe deposit box so they may access it after you die.)
• Memorial and final disposition instructions with your preferences on burial, cremation, memorial services, etc.

Although your loved ones will still need to clean out your closet, by leaving them a detailed Letter of Instruction, you’ll save them the aggravation and stress of having to look for important papers after your death.  The more organized and detailed you are in your Letter of Instruction, the easier it will be for your family and loved ones to administer your estate and affairs.  After all, they’ll have enough to deal with as they are grieving your loss.  Getting organized truly is one of the best gifts you can leave your family when you’re gone.

Posted by Kristen Marks, Esq., a/k/a My Pink Lawyer™, Florida Women’s estate planning, probate and minor’s guardianship attorney.  Reposting of this article permitted with proper credit given to author and trackback to her website.