Statement of Wishes
Informal Document Supporting Your Will
A “Letter of Wishes” (sometimes known as a “Statement of Wishes”) is an informal document that can be made in support of your existing Will. It is important to note that a Letter of Wishes is not legally binding.
A “Letter of Wishes” is a simple guide to assist your executor(s) in administrating your estate the way you want. Whilst a properly drafted Will does this for you, its formalities and strict wording can sometimes make it confusing for your executor(s).
Moreover, a Letter of Wishes assists your executor by setting out in plain, simple language how and to whom should he or she distribute your estate.
As a Letter of Wishes is an informal document, it is not part of your Will. Instead, it should be addressed to the executor(s) of your Will and provided to them upon your passing.
Most importantly, the Letter of Wishes is a confidential document. Your executor(s) will read this to understand your intentions as the testator. Thus, your beneficiaries should not be have a copy of your Letter of Wishes.
Reasons For Preparing a Letter of Wishes
The key reasons for why someone would prepare a Letter of Wishes include:
1. Explaining certain distributions (or lack of)
A Letter of Wishes can explain why someone has been left out of your Will or why you have left him/her a portion of your estate that can be inadequate in their view.
2. Location of personal documents or assets
Listing out the locations of your personal documents or assets that your executor may need to distribute your assets or access certain documents/information in administering your estate. Additionally, you can provide your login details for specific accounts in your name.
3. Providing your preferences regarding your children
4. Funeral arrangements and burial
You may list out who you want to be the guardian(s) of your minor children, as well as your preferences in relation to other major choices such as their education and schooling, religion, values and so forth.
You may list out your funeral arrangements, including the payment of the funeral expenses (potentially from your assets), and how you wish to be buried or cremated.
Whilst a Letter of Wishes can be helpful in assisting your executor(s) in understanding how exactly you want your estate administered, you must draft it properly in a manner that does not contradict or differentiate to how your Will would be read.
Having a contradicting Will and Letter of Wishes opens the risk of family provision claims and litigation.
Accordingly, having a solicitor who specialises in drafting Wills and Letter of Wishes can assist to ensure that the distribution clauses in your Will and your wishes in your letter align and do not contradict each other.
Importance of a properly drafted Letter of Wishes
Whilst a Letter of Wishes can be helpful in assisting your executor(s) in understanding how exactly you want your executor to administer your estate, you must make sure that you properly draft the letter. The manner of drafting must be in such a way that does not contradict or differentiate to how your Will would be read.
Consequently, having a contradicting Will and Letter of Wishes opens the risk of family provision claims and litigation. But if you have a solicitor who specialises in drafting Wills and Letter of Wishes, he or she can ensure that the distribution clauses in your Will and your wishes in your letter align and do not contradict each other.
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