Do You Have a Letter of Last Instruction? You Should, and So Should Your Loved Ones
There are many estate planning documents that attorneys often recommend. Few, however, are as simple or practical as a Letter of Last Instruction.
A Letter of Last Instruction is an organized way to give your family direction on information that may be difficult to locate after you have passed. It is easy to create, can often be prepared without an attorney, and helps organize personal and financial information alongside estate planning documents. While not a legal document, a thoughtful letter can ease the burden on loved ones during an already difficult time by reducing confusion and unnecessary scrambling.
Below are some basic items to consider when creating your own Letter of Last Instruction.
Death notification
Create a list of individuals and organizations that should be notified of your death. This may include relatives, friends, neighbors, your employer, business associates, professional advisors such as your attorney, CPA, insurance agent, and organizations like a church, alma mater, or social groups.
Funeral arrangements
Outline your preferences for funeral or memorial arrangements. This might include whether the service should be public or private, burial or cremation preferences, disposition of ashes, music selections, memorial donations, obituary information, pallbearers, and burial location.
Personal documents
Let loved ones know where important documents are stored. This may include instructions for locating a safe deposit box, lockbox key, desk files, or filing cabinets.
Many people also store documents electronically. If you use a digital vault or cloud storage, include instructions for how to access those files. Regardless of where documents are kept, clear guidance can save time and reduce frustration.
List of accounts and subscriptions
Provide a list of financial accounts, such as bank or credit union accounts, retirement plans, brokerage accounts, and credit cards. Include relevant contact information.
Also list subscriptions and memberships, how they are paid, and whether they should be discontinued. Many subscriptions renew automatically and may no longer be needed.
Insurance
List any life insurance and property or casualty insurance policies. Include where policy documents are located and note any coverage that may need to be canceled or updated.
Electronic access and passwords
A significant portion of daily life now exists online. Consider how loved ones will access your devices, email, accounts, photos, and social media.
If you are uncomfortable sharing passwords directly, you may provide hints that your loved ones can reasonably figure out. Just be careful not to make access overly difficult. Apple users can name a Legacy Contact to grant access to data after death. Searching “Apple Legacy Contact” online provides stepbystep instructions.
Billpaying instructions
In many households, one person manages bill payment. If that is you, explain how bills are paid, whether through autopay, a credit card, or a specific account. Clear instructions make it easier for someone else to manage ongoing expenses or cancel services that are no longer needed.
Personal notes and messages
On a more personal level, you may wish to include final notes to family members or close friends. In my own Letter of Last Instruction, I included short notes throughout to share what my wife and children mean to me.
This list covers many, but not all, of the items you may want to include. Rather than feeling overwhelmed, start with the most important information. Your letter can be handwritten, created in Word, or organized in a spreadsheet with multiple tabs. Many templates are also available online, including one created by our team.
This is a living document. Update it regularly as circumstances change. None of us knows when our time will come, and helping loved ones navigate practical details is a meaningful final gift.
Feel free to use our Estate and Administrators Guide template to get started. The guide is not a legal document and should not be relied upon as legal advice. The document can be completed digitally or printed for handwritten use.
This is intended for informational purposes only. You should not assume that any discussion or information contained in this document serves as the receipt of, or as a substitute for, personalized investment advice from Savant. Please consult your investment professional regarding your unique situation.
Kenneth R. Duetsch
Managing Partner / Financial Advisor
CFP®, CFA®, MBA