The Power of a Letter of Wishes
Your life is so much more than just a bit of paperwork.
Your thoughts, feelings, stories, and guidance deserve to be recorded for your kids and the people looking after them.
All these important bits that make you *you* don’t go in your Will [that’s a formal legal document – more about that over here]. Your Letter of Wishes is where you record the things that aren’t so legal-ish, but are crucial for your loved ones to thrive.
Providing Comprehensive Guidance
A Letter of Wishes allows you to record your parenting directions and guidance for the people caring for your kids in the event of your death [ie. the testamentary guardian – more about them over here].
There are no rules when it comes to a Letter of Wishes. What you choose to record depends on your unique values and preferences. You might include things like education preferences, screen time, who your child spends time with, extra-curricular activities…anything that’s important to you as a parent.
Having this written record allows the power players in your estate plan (guardians, executors, trustees) to refer back to your directions when they’re making a decision. It ensures everyone has a clear understanding of your wishes and expectations.
Unlike the formalities of a Will, a Letter of Wishes offers a more flexible and adaptable approach. It can be more easily updated and revised as circumstances change or as your child grows older, reflecting your evolving priorities and insights. This dynamic nature allows you to account for new developments and address emerging concerns without the need for formal legal amendments.
You know your child best. Your head is full of your priceless parenting intellectual property – knowledge about your child’s unique needs, preferences, and upbringing.
Each of our Will Value Packages includes a Letter of Wishes in our estate workbook. The Letter of Wishes has a dedicated section for parenting instructions, allowing you to outline essential details ranging from practical matters such as medical needs, schooling, and extra-curricular activities to sentimental aspects like preferred methods of comfort and emotional support. This ensures that your chosen guardians are equipped with the insights necessary to provide the best care for your child.
A written Letter of Wishes minimises the potential for misunderstanding that may arise from a verbal discussion alone. It is a lasting communication tool, ensuring that your guidance is easily accessible despite the passage of time.
In the event a power player in your estate plan is uncertain how to proceed or if a new guardian steps in, your Letter of Wishes is there to guide the decision-maker and bring clarity to the decision-making process.
A well-drafted Letter of Wishes can be instrumental in preserving family harmony by addressing potential areas of conflict and offering solutions in advance. By openly expressing your desires and reasoning behind certain decisions, you provide a foundation for understanding for your loved ones. This thoughtful gesture can mitigate potential conflicts and promote a sense of collaboration in executing your estate plan.