Put It in a Letter

Author

RTI Wealth Management– Anthony Cisneros

For more information about the author, click to view their website: RTI Wealth Management

Posted on

Dec 06, 2022

Book/Edition

Colorado - Northern Colorado

American actor Lee Marvin once said, “As soon as people see my face on a movie screen, they knew two things: first, I'm not going to get the girl, and second, I'll get a cheap funeral before the picture is over.”

Most people don’t spend too much time thinking about their own funeral, and yet many of us have a vision about our memorial service or the handling of our remains. A letter of instruction can help you accomplish that goal.

A letter of instruction is not a legal document; it’s a letter written by you that provides additional and more personal information regarding your estate. It can be addressed to whomever you choose, but typically, a letter of instruction is directed to the executor, family members, or beneficiaries.1

Make a Cheat Sheet

Think of a letter of instruction as a “cheat sheet” to your estate. Here are a few ideas and concepts that may be included:

  1. The location of important legal documents, such as your will, insurance policies, titles to automobiles, deeds to property, etc.
  2. A list of financial assets, including savings and checking accounts, stocks, bonds, and retirement accounts. Be sure to include account numbers, PINs, and passwords where applicable.
  3. A list of pensions or profit-sharing plans, including the location of their explanatory booklets.
  4. The location of your latest tax return and Social Security statements.
  5. The location of any safe deposit boxes and their keys.

Identify Funeral Wishes

A letter of instruction is also a good place to leave burial or cremation wishes. You should consider giving the location of your cemetery plot deed, if you have one. You may even wish to specify which hymns or speakers you would like included in your memorial service. Although a letter of instruction is not legally binding, your heirs will probably be glad to know how you would like to be remembered. It also may be helpful to leave a list of contact information for people who should be notified in the event of your death.

There is no “best way” to write a letter of instruction. It can be written in your style and reflect your personality, or it can be written to simply convey information. You should decide what type of letter best fits your estate strategy.

1. Investopedia.com, 2021

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. Copyright 2022 FMG Suite.

Editor’s Note: This article was submitted by Anthony Cisneros, CRPC®, AWMA® CRPS®.

Anthony Cisneros is a Wealth Advisor and President of RTI Wealth Management, and may be reached at 970-236-8800 or by email at acisneros@rtiwm.com

Securities and investment products and services offered through LPL Financial, member FINRA/SIPC. RTI Wealth Management is a separate entity from LPL Financial.

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RTI Wealth Management

Financial Advisor 400 East Horsetooth Road, Fort Collins, Colorado, 80525

Our mission is to grow, educate and prepare our clients for the complexity that life can bring through consultation and education to arrive at individual solutions that fit you and your family.This is accomplished by taking a proactive approach at understanding the lives that each of our clients have. We then become that advocate that can help to coordinate and facilitate communication with tax, legal, and insurance professionals as well as other trusted advisors and often even family members.It is not about the value of your things, but what you value. It is everything that makes you, you. Your stories, the challenges you have overcome, the successes you have experienced, as well as what is important to you. You will have a dedicated advisor surrounded by a team with more than 40 years of combined experience in the industry to walk side by side with you on your journey.