You may have made an effort to be extremely thorough in your will, trust, and other estate planning documents. But you may still be uneasy with the idea that your estate’s administration will inevitably be out of your control when you are, sadly, no longer around. And so, you may worry that your message and intentions are still not clear enough for the necessary parties to interpret. Well, you may give yourself the assurance you need to rest easier at night, so to speak, by also writing and establishing a letter of intent. Please read on to discover what to include in your letter of intent and how a seasoned Broward County estate lawyer at The Probate Lawyers can help you incorporate it into your estate plan.
What items should be included in my letter of intent?
First of all, by its simple definition, a letter of intent is a non-legal document that typically supplements a legally-binding will, trust, and other estate planning documents. It is a means of clarifying the instructions you left in these legal documents, all while minimizing the likelihood of disputes amongst your beneficiaries and other interested parties later on. With that being said, you may look to include the following items within your letter of intent:
- Personal messages to your beneficiaries on how you wish for them to handle their inheritances.
- Personal messages to your executor and trustee on how you wish for them to administer your estate.
- A list of your major assets and the locations of the important legal documents associated with them.
- Details about which assets you wish to distribute to whom, and why you came up with this decision.
- Instructions on how to honor your wishes for a burial, cremation, and/or memorial services.
- Identify the adult you prefer to serve as the guardian of your minor children.
- Indicate the exact donations you wish to give to certain charitable organizations.
How will others know I included a letter of intent in my estate plan?
You should not keep your letter of intent a secret from key individuals like your executor, trustee, and beneficiaries. In fact, you should physically keep this supplementary document in the same location as your other estate planning documents, and inform these individuals on how to access them when the time comes. It also may not hurt to produce a copy of it and give it to the lawyer who helped you write it in the first place.
That said, it is worth reiterating that a letter of intent is not a mandatory, legally-binding estate planning document. And so, it is not a requirement for this letter to be submitted to the Florida probate court alongside your will and other legal documents. In contrast, once the court processes your will, your executor and lawyer may send notices and copies of the will to your named beneficiaries. Also, your will may be made a public document accessible and readable by anyone who requests it.
All in all, the same cannot be said about your letter of intent. This is all the more reason why you must consciously attempt to ensure that this letter lands in all the necessary hands. There is no need to go through the important process of writing down your estate plans alone. Please seek the support and assistance of a competent Broward County estate lawyer. Contact The Probate Lawyers today.
