Statement / Letter of Wishes

The document titled 'Statement / Letter of Wishes' is a statement made by the account holder, expressing their wishes and preferences regarding the distribution of their estates after their death. It is important because it provides guidance to the executor of the will, although it does not impose any legal obligation on them. The statement of wishes does not revoke or change the provisions of the account holder's will, but it serves as a supplementary document for the executor to consider.

 

The document begins with an introduction by the account holder, stating that they are of sound mind and making the statement in reference to their last will and testament. They emphasize that the statement does not alter the provisions of the will, but they express their desire for the executor to take their wishes into account when administering the estates.

 

The document covers various sections, each addressing different aspects related to the account holder's wishes. These sections include:

 

1. Funeral Arrangement: The account holder provides instructions regarding their funeral arrangements upon their death.

 

2. Notification List: If applicable, the account holder lists the individuals who should be notified upon their death, including beneficiaries.

 

3. Guidance: The account holder suggests seeking guidance from specific individuals upon their death.

 

4. Location of Documents: The account holder provides a list of documents they possess and their respective locations.

 

5. Schedule of Assets and Liabilities: The account holder includes a schedule of their assets and a separate schedule of their liabilities.

 

6. Specific Bequests: If applicable, the account holder specifies any specific bequests they are making.

 

7. Wishes: The account holder shares additional wishes for the executor to consider.

 

8. Reasons: If provided, the account holder explains the reasons behind their wishes.

 

The document concludes with an account sign block, including the current date. It is important to note that the executor has the ultimate ability and discretion to make decisions based on the provisions of the will, regardless of the wishes expressed in this statement or any previous statements.

 

Overall, this document serves as a supplementary guide for the executor, providing detailed instructions and preferences from the account holder regarding the distribution of their estates.

How to use this document?

Guidance for using the 'Statement / Letter of Wishes' document:

1. Funeral Arrangement: Upon the account holder's death, follow the instructions provided for their funeral arrangements.

2. Notification List: If the account holder has listed individuals to be notified, ensure that the listed people, including beneficiaries, are informed of the account holder's death.

3. Guidance: Seek guidance from the specific individuals mentioned in the document upon the account holder's death. Consider their advice and input in the administration of the estates.

4. Location of Documents: Refer to the list of documents provided by the account holder and locate each document as specified. These documents may be important for the administration of the estates.

5. Schedule of Assets and Liabilities: Review the account holder's schedule of assets and liabilities to gain a comprehensive understanding of their financial situation.

6. Specific Bequests: If the account holder has made specific bequests, ensure that they are carried out according to their wishes.

7. Wishes: Consider the additional wishes expressed by the account holder and take them into account when making decisions related to the distribution of the estates.

8. Reasons: If the account holder has provided reasons for their wishes, carefully consider these reasons when making decisions, although the ultimate discretion lies with the provisions of the will.

Remember, this document does not alter the provisions of the account holder's will, but it serves as a supplementary guide for the executor. Always prioritize the legal obligations outlined in the will when administering the estates.