A carefully drafted Will versus letter of wishes is not an either-or decision for many families. They do different jobs, and using both properly can give your executors and trustees clearer direction at a difficult time. For business owners, landlords and anyone with property or significant investments, that clarity can be just as valuable as the documents themselves.
A Will sets out who should inherit your estate and who will administer it after your death. A letter of wishes adds the personal context that may be unsuitable for, or unnecessarily restrictive within, a Will. Understanding the distinction helps you retain control while giving your family the flexibility they may need.
What a Will does
A Will is a legally binding document, provided it has been properly prepared, signed and witnessed. It states how your assets should be distributed on death, appoints executors to deal with the estate, and can name guardians for children under 18.
Your Will can cover your home, savings, investments, personal belongings and your share of any jointly owned assets, subject to the way those assets are held. It can also deal with business interests. If you own a company, partnership share or investment property portfolio, your Will should sit alongside any shareholder agreement, partnership agreement or business succession arrangement. A conflict between documents can cause delay and place an unwanted burden on the people left behind.
For many people, a Will also creates trusts. This may be appropriate where you want to protect assets for children, provide for a spouse or partner while preserving capital for the next generation, or safeguard an inheritance for a vulnerable beneficiary. Trust planning can be especially relevant where family wealth includes rental property or a trading business that should not be divided or sold hastily.
Because a Will is binding, it needs careful wording. Vague gifts, outdated beneficiary details and assumptions about ownership can lead to disputes. It must also be reviewed after major changes, such as marriage, divorce, a new child, a business sale, a property purchase or the death of a beneficiary or executor.
What is a letter of wishes?
A letter of wishes is a separate, private document that gives guidance to the people responsible for administering your estate or managing a trust. It is not usually legally binding. Instead, it records your intentions, priorities and the reasoning behind decisions that your executors or trustees may need to make.
This distinction matters. A letter of wishes cannot override your Will, change who inherits a fixed gift, or repair a Will that has not been validly executed. Nor should it be used as a substitute for proper estate planning. Its strength lies in explaining how you would like discretion to be used where your Will or trust gives that discretion.
For example, you may leave funds to a discretionary trust for your children and grandchildren. Rather than fixing precisely what each person receives and when, you can tell the trustees in your letter of wishes that you would like them to prioritise education, a first home deposit, medical needs or support during financial hardship. You might also explain why one beneficiary should not receive a large sum outright at a particular age.
The trustees are not automatically required to follow the letter. However, a clear and sensible letter is likely to carry considerable weight, particularly where it shows that you understood the family circumstances and deliberately gave trustees flexibility.
Will versus letter of wishes: the key differences
The simplest way to view the two documents is that a Will creates the legal framework, while a letter of wishes explains how you would like that framework to be applied.
A Will becomes public once probate is granted in most cases. A letter of wishes generally remains private between those who need to see it. This can be helpful where you want to explain sensitive family circumstances without placing them on a public record.
A Will is also more formal. It must meet strict legal requirements, and amendments should be made through a new Will or a properly executed codicil. A letter of wishes is more flexible. You can update it as circumstances change, without remaking your Will each time, provided the updated letter is clearly dated and stored safely with the relevant legal documents.
That flexibility is useful, but it comes with a trade-off. If your wishes are fundamental, they should not be left to a non-binding letter. If you want a named person to receive a defined sum, a particular property or a share of your company, this belongs in your Will or another legally effective agreement. A letter should support the plan, not carry its weight alone.
When a letter of wishes can be particularly valuable
A letter of wishes is often most useful where family life, assets or future needs are unlikely to remain static. It enables you to give guidance without forcing trustees to follow instructions that may no longer make sense years later.
For property investors, a letter can explain your approach to a portfolio. You may ask trustees to consider retaining a property that provides dependable income, avoid selling during a weak market where possible, or obtain professional advice before making decisions. It cannot compel a course of action, but it can help trustees understand whether your priority was income, long-term growth or preserving a family asset.
For small business owners, it can explain the role you hope family members will play after your death. Perhaps you would prefer the business to be sold to a co-owner, transferred to a capable child, or run professionally for a period before a sale. The legal route for achieving those aims must be set out in the right business and estate planning documents. The letter then provides the commercial context that a standard Will rarely captures.
Blended families are another common example. You may want to provide comfortably for a surviving spouse or partner but preserve capital for children from an earlier relationship. A trust within the Will can establish the protection. Your letter can help trustees understand the balance you hoped to strike, including whether housing, income, school fees or care needs should take priority.
Letters of wishes can also be used to express preferences around personal belongings, funeral arrangements and charitable giving. These matters should be handled with care. If an item has sentimental or financial importance, a legally binding gift may be safer. Funeral wishes are not binding either, so it is wise to discuss them with your executors and close family during your lifetime.
Common mistakes that weaken both documents
The most frequent mistake is treating a letter of wishes as an informal replacement for a Will. A handwritten note saying who should receive the house or business does not usually have legal effect. If the Will says something different, the Will takes priority.
Another problem is failing to keep documents aligned. A Will drafted before a property portfolio expanded, before a company was incorporated or before a new relationship began may no longer reflect the estate you actually own. Equally, a letter of wishes that refers to people who have died, arrangements that have ended or trustees who are no longer suitable can create confusion rather than guidance.
There is also a risk in being too prescriptive. Trustees may need room to respond to tax changes, a beneficiary’s health, financial vulnerability, divorce or creditor issues. A well-written letter explains the objective behind your wishes, not merely a rigid set of instructions. For example, protecting a child’s long-term security is more helpful than requiring trustees to release a fixed amount regardless of circumstances.
Finally, documents are only useful if they can be found. Your executors and trustees should know that your Will and letter of wishes exist, where the originals are held and who to contact for support. Secure document storage and a clear review process are practical parts of protecting an estate.
How to make the two documents work together
Start with a full picture of what you own, how it is owned and what you want to protect. This should include property, business interests, pensions, life policies, investments, liabilities and any assets held jointly or in trust. Beneficiary nominations on pensions and death-in-service benefits also need to be considered, as they may sit outside your Will.
Your Will should then establish the legal arrangements: executors, guardians, beneficiaries, trusts and any specific gifts. If flexibility is needed, the trust provisions should be drafted to give trustees appropriate powers. The letter of wishes can then set out the practical guidance behind those arrangements in plain English.
Review both documents regularly and after significant life or financial events. A review every few years is sensible for many people, but business owners and active property investors may need to revisit their arrangements more often. Growth in asset value, a refinance, a new company structure or a change in family circumstances can all alter the risks.
At The Legacy Wills, the focus is on making sure the legal documents and the wider protection strategy tell the same story. The right answer depends on your family, your assets and the degree of flexibility you need.
A Will gives your estate a legal direction. A letter of wishes gives it a human voice. Put both in place thoughtfully, keep them current, and you give those you trust a far clearer path to follow when they need it most.