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Broadly speaking a letter of direction (letter of instruction)1 is any letter that gives instruction and guidance to a recipient. Letters of direction are also common in situations when somebody has passed away, and the executor requires documentation to prove they are in control of the deceased’s estate.
If you’ve ever been the executor of someone’s estate, you know that the role is a difficult one. Mourning the death of a loved one is painful in and of itself. Add to it the responsibility of sorting out what they’ve left behind and you can quickly become overwhelmed.
A number of questions must be answered before the actual legal settlement process can even begin. Where does the deceased keep all of their documents? Where are all of their assets? Do they have property somewhere that you don’t know about?
Resolving these issues can be very tedious and frustrating if the answers aren’t readily available. While you can’t control how other people organize their affairs, you CAN spare whomever you designate this frustration by offering a clear plan to follow in the event of your death.
Some statements that might be included in a Letter of Direction are as follows:
As my Executor(s) I authorize you to purchase, at the expense of my estate:
It is always advisable to obtain proper legal advice when creating a Letter of Direction in order to ensure that the document contains clear instructions for anyone responsible for managing the affairs of a deceased person.
This publication and website are intended for Ontario residents only and the information contained is subject to change without notice. Mutual Funds are offered and regulated through Global Maxfin Investments Inc. (GMII). Insurance products (including Segregated Funds) and Income Tax Planning is provided under the name of Ausim Mobeen. GMII does not supervise these activities and will not be accountable, responsible or liable for such activities. This publication contains opinions of the writer and may not reflect opinions of GMII. The information contained herein was obtained from sources believed to reliable, but no representation, or warranty, express or implied, is made by the writer or GMII or any other person as to its accuracy, completeness or correctness. This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisors for advice based on your specific circumstances.
