Letters of instruction along with will can eliminate confusion about last wishes

And with it, we need to attach what professionals call a “letter of instruction.’’

Jackson left behind three children and a lot of debt, but also assets that may increase in value because of his death.

There was some doubt as to whether Jackson had a will. His mother, Katherine Jackson, asked a judge to appoint her executor of her son’s estate. But it turned out he did have a will naming his attorney and a longtime friend executors of the Michael Jackson Family Trust.

Had Jackson communicated his last wishes better, there would not have been such confusion. His 79-year-old mother could have avoided having to go to court as she was mourning her great loss.

So let me ask you, who knows where to find your important documents in the event of your death?

For most of us, our estates won’t be nearly as complicated or large as Jackson’s. Our estates are pretty simple. Still, you need to leave instructions of where to find the documents that leave a trail of your holdings.

A letter of instruction includes the names of who should be contacted in the event of your death and the whereabouts of all your essential documents, plus guardianship instructions should you still have underage children.

Consider the letter of instruction as a master list, detailing where you keep your financial documents. For example, write down that your will is in a lock box or safe-deposit box.

What should be in this letter? In addition to directions about your will and any trust documents, include any information about, and the location of, the following:

►Your life insurance policy or policies.

►Social Security or Veterans Affairs records.

►A complete list of your assets - liquid and illiquid. Liquid assets would include cash. Illiquid would include such property as your home - things that would have to be sold to produce cash.

►Documents relating to your assets - mortgage papers, vehicle titles, marriage certificate, divorce or separation papers, any military records, investment information, bank accounts, and retirement plans.

►A list of any major debts outstanding, such as your home mortgage or car loans. Often after someone dies, creditors will contact the family. Additionally, it’s important you know that unless you cosigned for such debt, you are not personally obligated to pay it.

►The names of your lawyers and any professional advisers, including your accountant, broker, and insurance agent.

►If you own a business, include documents related to it and a list of key employees who should be contacted.

Michelle Singletary is a columnist for The Washington Post. She can be reached at singletarym@washpost.com.