Wealth Planning Insights
The Power of a Personal Letter in Your Estate Plan
Abigail Gunderson, CFP®, April 2025
The passing of a beloved family member is often an emotional and stressful time. By adding a personal letter to your estate plan, it can offer your loved ones valuable insight, comfort, and clarity when carrying out your wishes. It is an opportunity to convey both practical instructions and your personal sentiments in a meaningful way. Here are some key items to consider:
Personal Message or Reflections
This is often the most heartfelt section, where you express your love, pride, and gratitude toward your family and loved ones. This can also include a reflection of your life, lessons you want to impart, and shared memories that you cherish.
Purpose of the Estate Plan
Explain how your estate plan was designed and why certain decisions were made. Reassure your family that these were made with careful consideration. For example, if a Corporate or Co-Trustee was incorporated to act with a child until they reach a certain age, your intentions could be to help build guardrails so that they learn how to manage their inheritance wisely before they become Sole Trustee of their own Trust.
Family and Relationship Guidance
Some people state their intentions and ask families to support one another, resolve any conflicts peacefully, or remind them to honor longstanding traditions and family values. For example, one client specifically expressed his desire for his children to consider investing a portion of their inheritance on experiences that will allow them to spend time together and invest in physical property that will routinely bring the family together. For another, instructions were made to ensure that a disabled child is included in family events and regular visitation in the facility where they reside.
Philanthropic Wishes
This is where you can express what charities or organizations had a special significance or positive impact on your life, if named in your Will or through an existing Donor Advised Fund or Family Foundation.
Funeral and Burial Instructions
You can provide guidance on how you would like your funeral or memorial to be handled, whether you prefer to be buried in a cemetery, or cremated and have your ashes scattered, as well as include music or service preferences.
Executor and Trustee Notes
You can provide a list of appointed individuals and financial professionals who can assist your family in properly settling your estate per your plan and wishes.