There’s no doubt that many Baby Boomers are planning for the future …but even the savviest among them may overlook one crucial element in their estate plan: a letter of final instruction.
If you’re a member of the Baby Boomer generation, there’s a good chance you have not done even the most basic of estate planning. In fact, only 56 percent of you have a will, according to a 2011 survey by Rocket Lawyer. So, if you have covered that base, give yourself a well-deserved pat on the back … but not too heartily. As SmartMoney recently pointed out, most people overlook another crucial element in their estate plan: a letter of final instruction. The letter of final instruction is a non-legal document that guides your family through important tasks after your…