Letter of Instructions


Richard Morgan, Morgan and Disalvo.

There are a couple of documents which we ask our clients to consider creating on their own. We tell them what to do and then hopefully they’ll do them on their own. The first one is a letter of instructions. What is a letter of instructions? Think about if you are incapable of acting, you become incapacitated and one day you’re going to pass away. Someone else has to take over your whole financial situation. What accounts do you have? What are your passwords? What bills do you pay? What are your insurance issues? Who are your advisers? All that kinds of information, someone needs to know to carry out your plan and to make sure that you’re in good shape. That your health insurance is paid, all those kinds of things.

So what we ask you to do either on the computer, write down somewhere, a whole list of all that information. Hopefully keep up to date, keep it with your important papers. You want to make sure no one else can get to it because it’s a map to all your financial status, but you keep it in a safe place. And then hopefully you give the access to that person and tell them where it’s located, if they ever need it. So it’s a letter of instructions.

Richard Morgan, Morgan and Disalvo.

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