How can I incorporate a Letter of Wishes into my Testamentary Trust to serve as a reference?
A Letter of Wishes, also known as a Letter of Instruction or Memorandum of Wishes, is a document that provides guidance and instructions to the individuals responsible for administering your estate, Trust or other affairs after your death. This letter typically addresses non-legal, personal, and discretionary matters that are not covered in your legally binding Will, Trust or other legal documents.
It is not mandatory to have a Letter of Wishes for your Trust as the document itself is generally not legally binding in the same way a Will or Trust is. It does not have the same formal legal requirements, such as witness signatures, that a Will does. Instead, it serves as a supplemental document that can help your executors, Trustees, or family members understand your intentions and preferences. While it is not legally binding, it is usually respected and considered by those responsible for administering your estate/Trust.
Regardless, it is important to make sure that your Letter of Wishes DOES NOT CONTRADICT the instructions in your Testamentary Trust. If you have any additional instructions to the Trust itself, you should add them directly under Additional Trust Instructions.
To add a Letter of Wishes to refer to in your Testamentary Trust, separately print out the Letter of Wishes and label it clearly and make reference to the Letter of Wishes within the Trust. Do keep the Letter of Wishes alongside your Will (i.e. keep them at where you safekeep your Will).
In the platform, under Additional Trust Instructions, key in the following:
My Trustee(s) may also refer to my Letter of Wishes, found together with my Will, for additional guidance.
As the Letter of Wishes is not legally binding nor part of the actual Will/Trust document, there is no right or wrong way to draft it so long as it does not contradict the Will/Trust.