A Will tells your Executor what to do with your assets. A letter to your Executor tells them how to find everything and what you were thinking. The two documents serve very different purposes.
What a Letter to Your Executor Is
A letter to your Executor — sometimes called a letter of instruction or letter of wishes — is an informal document (not part of the Will and not legally binding) that provides practical guidance to help your Executor do their job. Unlike the Will, it can be updated freely without witnesses or a Notary.
What to Include
Location of documents — Where is the original Will? Where is the Power of Attorney? Insurance policies, property deeds, vehicle registrations, investment statements, tax returns, the safety deposit box key?
Account information — a list of bank accounts, investment accounts, pension plans, and RRSPs/TFSAs. Include institution names and account numbers. Do not include passwords — keep those separately in a secure location and tell your Executor how to access them.
Debts and liabilities — mortgages, car loans, credit cards, lines of credit, anyone you owe money to.
Digital assets — social media accounts, email accounts, online subscriptions, digital photo libraries, cryptocurrency if applicable.
Reasoning behind Will decisions — if you have made an unequal distribution among children, or excluded someone who might expect to be included, a private explanation in this letter can reduce conflict and help your Executor understand your intent.
Funeral and burial preferences — these are better placed here than in the Will, since the Will is often not read until after the funeral.
Keep It Current
A letter to your Executor that is five years out of date may be more confusing than helpful. Review it at the same time you review your Will — at minimum annually, and after any significant change in your circumstances.