It is advisable that Last Will & Testaments and Will Trusts include a formal Letter of Wishes to augment these legal documents.
A beneficiaries inheritance of items of high value such as property and large sums of money should always be detailed within a Last Will & Testament or a Will Trust. However, it is more appropriate that a comprehensive list of less financially valuable items or smaller sums of money that people should be given is detailed within a formal Letter of Wishes.
If an item that is detailed in a Last Will & Testament of a Will Trust becomes destroyed, lost, stolen, sold or given away before the death of the person making the Will this can cause a substantial and expensive delay in the completion of Probate. If the item is instead detailed in a Letter of Wishes it is unlikely to cause a delay in the completion of Probate.
A Letter of Wishes may also be used to express the Will makers views and the stipulations made within their Will or their Will Trust. It may be used to explain why certain individuals have not been included as beneficiaries or why non family members have been included as beneficiaries. This can assist deterring anyone seeking to mount a legal challenge against the stipulations made within the Will.
A formal Letter of Wishes in relation to a Last Will & Testament or Will Trust is that it can be easily amended at any time before death without the need to redraft the Last Will & Testament or Will Trust.
We provide professionally drafted and fully insured Letter of Wishes at very reasonable prices.
However, if you purchase either of our Standard Death Planning, Total Lifetime Planning or Inheritance Tax Planning Package you will receive a free Letter of Wishes.
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