Statement of Wishes

What is a Statement of Wishes?

Statement of Wishes (sometimes called Memorandum of Wishes or Letter of Wishes) is a non-binding document that provides guidance as to the object and purpose of Estate Planning documents and also allow the formal documents (such as a Will or Trust instruments) to remain flexible and broad.

Common uses include:

• Wills – to provide guidance to the Executors and the Trustees of Trusts established under the Will.
• Minor children – to provide guidance to Guardians of minor children appointed under a Will.
• Potential contentious Estates – to provide reasoning to the Executor as to why a certain beneficiary is not named in a Will.
• Discretionary Family Trusts – to provide guidance to the Appointors, Guardians and Trustees.