FLORIDA LETTERS OF INSTRUCTION - PART 2

“In this second part of our two-part discussion on letters of instruction in Florida, we are going to look at the

specific kinds of information you might choose to include in your letter.”

ROBERT J. KULAS FLORIDA ESTATE AND MEDICAID PLANNING ATTORNEY

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In this second part of our two-part discussion on letters of instruction in Florida,

we are going to look at the specific kinds of information you might choose to

include in your letter. As with every estate planning tool, making sure your letter

meets your individual needs and desires can take some time and preparation.

Also, as your life and needs change, you need to be ready to update your letter as

needed. So, today, let's look at what you might want to include in your letter of

instruction, and why it's useful information to have.

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MANAGING PROPERTY

One of the most important tasks your estate administrator will be called upon to

perform is the management of your property. This job will require the

administrator to manage that property until it can be distributed to new owners,

but it will begin with identifying exactly what you own. What assets do you have?

What do you owe? Where is the property located? How will the administrator

take control?

Because property often comes into and out of our lives, a letter of instruction is

the ideal tool to allow you to identify what you own because you can change it as

needed.

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For example, if you have a bank safe deposit box you can use your letter of

instruction to tell your administrator about it, what it contains, where it is

located, and who to talk to in order to gain access. If you subsequently decide to

stop using the box, you can simply remove that portion from your letter.

It's important to point out that your list of property should also include a

description of the liabilities

you have. Your administrator

will need to know who might

have a claim against your

estate, and a list of debts will

give him or her a good idea.

Also, you might want to think

about using your letter of

instruction to distribute

personal property or family

heirlooms. At the very least,

you should leave clear instructions about how you want this type of property

distributed, or who you want to decide distribution issues.

ACCESSING INFORMATION

In addition to identifying your property you'll also want to include any necessary

access information that will allow the administrator to manage that property with

as little difficulty as possible. For example, you'll want to include bank account

numbers, the name of the institution that holds the account, and any relevant

contact names, passwords, or anything else the administrator might need.

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Beyond that, a comprehensive list of your digital assets and access information is

also important. As the Internet and online property becomes more ingrained in

our lives, listing what you have online, how to access it, and any information your

administrator will need can be a great help.

Further, letting your administrator know if you have personal information or

documents on your phone, computer, or other digital devices is important. If you,

for example, have family photos in your home, keep your tax records on your

computer, or have other important digital documents, your administrator will

need to know about them.

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CONTACTING PEOPLE

The estate administration process isn't conducted in a vacuum, and your

administrator will likely need to contact a number of people as he or she goes

about the process of settling your estate. Including the names of your attorney,

physicians, accountant, financial representatives, or anyone else who has

important information about you will be a key part in the process of crafting an

effective letter of instruction.

Beyond those names you might also want to include the names of family

members, friends, organizations, or anyone else you might want notified of your

death, or in the event of an emergency.

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CRAFTING A LETTER FOR YOUR PLAN

A good letter of instruction must be able to accomplish several tasks at the same

time. Not only must the letter allow you the ability to pass along key information,

but it must do so in such a way that it does not interfere with the other estate

planning tools your plan will rely upon. Further, you cannot make the mistake of

using your letter as a substitute for the legally enforceable tools your plan will

rely upon for various purposes.

In short, the creation and use of a good letter of instruction is something that

requires the advice and guidance of an experienced attorney. If you have yet to

craft a letter of instruction, have questions, or want to get started, contact us as

soon as possible so we can help you.

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About the Author Robert J Kulas

Robert is the founder and principal shareholder in the Port St. Lucie and Vero Beach law offices of Robert J. Kulas, P.A. Because he believes that helping his clients manage their personal affairs wisely is one of the most worthwhile professional activities he can pursue, he has devoted his practice exclusively to estate planning.

Robert has invested considerable time and energy helping to educate others in estate planning and is widely regarded as a dynamic speaker

who can make even the most complex estate planning issues easy to grasp. He provides free monthly seminars to inform the public on the importance of proper estate planning. Over the past twenty years, thousands of people have come to hear him speak. “Helping people understand their options for estate planning is very important to me,” Robert said. “I like to think that people in our community can look to me for the kind of quality information they need to decide what is best for them and their families.”

About Robert J. Kulas, P.A. Attorneys at Law

Robert J. Kulas, P.A. Attorneys at Law is a full service estate planning and wealth preservation law firm servicing Port St. Lucie and Vero Beach, Florida.

The firm is dedicated to providing you with quality estate planning resources, so you can become familiar with all of the existing options. When you visit or call the office, we want you to feel comfortable discussing such an important issue concerning both you and your family. We want to arm you with the information you need to make an informed decision about your family's future.

www.kulaslaw.com

East Lake Professional Center

2100 SE Hillmoor Drive, Suite 105 Port St. Lucie, FL 34952 Phone: (772) 398-0720

Univest Building 2770 Indian River Blvd., Suite 321

Vero Beach, FL 32960 Phone: (772) 778-8481