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Genuine Parts Families: Why a Letter of Instruction Can Simplify Estate Planning

Healthcare Provider Update: Healthcare Provider for Genuine Parts: Genuine Parts Company, primarily known for its automotive replacement parts, benefits from its association with several healthcare providers, but its specific health insurance options are not publicly detailed. Generally, employees are likely covered under major national providers such as UnitedHealthcare, Anthem, or Aetna, which offer group health plans as part of their employee benefits. Potential Healthcare Cost Increases in 2026: Healthcare consumers can anticipate significant premium hikes in 2026, driven by the looming expiration of enhanced subsidies under the Affordable Care Act (ACA). Reports indicate that many states could see premiums increase by as much as 66%, with average national hikes exceeding 20%. These increases stem from soaring medical costs and projected double-digit rate adjustments proposed by major insurers, putting additional financial strain on millions of Americans reliant on marketplace plans. If not addressed, this combination of factors could push some consumers' out-of-pocket healthcare expenses up by 75% or more, effectively pricing many individuals out of adequate coverage. Click here to learn more

'Genuine Parts employees can bring more clarity to their estate plans by using a well-organized letter of instruction, which is a practical way to help families navigate important decisions with greater confidence.' — Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'Genuine Parts employees can create a smoother transition for their families by using a clear letter of instruction, which can be an effective way to support loved ones during estate administration.' — Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

Why a letter of instruction can support your estate plan.
What to include in a letter of instruction.
How Genuine Parts employees can use a letter of instruction to help streamline estate administration.

Important Lessons

Estate planning documents like a will and a revocable trust are important, but they might not give your family all the information they need to handle your affairs when you pass away, especially for Genuine Parts employees with complex benefits.

In addition to an estate plan, a letter of instruction can offer your loved ones more information about your assets and personal preferences.

A letter of instruction can contain additional details, such as burial plans and the placement of essential documents, but it should not conflict with your estate planning documents.

Your loved ones might not know who to call, where to find your assets, or how to recognize reputable creditors if something were to happen to you today. By providing clear, supplemental guidance, a letter of instruction can help reduce the stress and work involved in the estate administration process.

A Letter of Instruction: What Is It?

A letter of instruction is an informal document outlining your assets and last wishes, sent to an executor, personal representative, or family members. It adds helpful information not included in legally binding estate planning documents like a will or revocable trust. For Genuine Parts employees managing multiple retirement and savings plans, a letter of instruction can help simplify administration for family members, even though it is not legally required.

Since this letter is informal, it can be updated without consulting an attorney as circumstances change over time. It can contain supplementary information that supports your estate plan, but it should not contradict anything in your legal estate planning documentation.

How to Compose an Instructional Letter

Funeral Plans

You might provide information about your preferred funeral or burial type, funeral home, clergy member, music, speakers, or tribute. You can also include details about pre-paid or pre-arranged funeral or burial plans and where related paperwork is located. Some people also provide biographical details—something Genuine Parts retirees can include for clarity.

Crucial Records

You can note the location of your Social Security card, recent bank account statements, deeds, titles, mortgage documents, important records, and estate planning documents. Some individuals also indicate where to find recent tax returns, which may help identify assets or income sources. If these documents are stored in a lockbox or vault, providing access instructions may be helpful.

Contact Details for Financial Representatives

The names and contact information for bankers, tax preparers, lawyers, insurance agents, real estate agents, and financial advisors can be included in the letter. These professionals can assist with background information, asset identification, account transfers, and final tax filings.

Details of the Assets

You can list your assets’ locations, titling, identifying details, and current values. This may include real estate, stock certificates, savings bonds, annuities, time shares, bank accounts, brokerage accounts, retirement accounts, company interests, safe deposit boxes, life insurance, and personal belongings with monetary or sentimental value.

Computer Files and Online Accounts

You may wish to list your digital files and accounts and designate a successor in your estate planning documents to manage them, since state and federal laws may limit access without written approval. For Genuine Parts retirees who store retirement and benefits information online, this documentation may help reduce challenges.

Details of Debt

You can include information regarding your debts, such as account numbers, balances, statements, and lender contact details.

Beneficiary Details

The beneficiaries listed in your estate plan, along with their contact details, may be included in the letter. This makes it easier for an executor to locate and communicate with those who will receive assets—an important step for families with Genuine Parts retirement accounts.

Pets

You can specify who you want to care for your pets and any specific instructions if your estate documents do not mention them. You may also include your veterinarian’s contact information.

Distribution List for Personal Property

Some states allow individuals to draft a separate document listing specific items of tangible personal property and their intended recipients, as long as the will references the list. Even in states where this is not legally binding, a letter of instruction can still guide your executor and help minimize disagreements.

Private Notes and Clarification of Goals

Some people include private notes or explanations for their decisions regarding inheritance or financial principles. Although not legally binding, these notes can help prevent misunderstandings.

What Does a Letter of Instruction Not Need to Include?

A letter of instruction should not repeat information already found in your estate planning documents. It is intended to provide additional details only.

It also should not be used to make changes to legally enforceable estate documents. Informal updates are not binding and may create conflicts.

Where to Store Your Instruction Letter

You can keep a copy of the letter with your estate planning papers, provide one to your lawyer, or place it somewhere your family is likely to look first. You can also share a copy with your executor and discuss it with them if you feel comfortable. Updating the letter each year is useful as assets and personal information change—particularly for Genuine Parts employees with evolving retirement benefits.

Do You Need Guidance?

The Retirement Group can help you prepare for retirement if you are updating or creating your estate plan and want assistance organizing your family’s financial information. Call us at (800) 900-5867 .

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Articles you may find interesting:

Sources:

1. Parker, Craig. “How to Write a Letter of Instruction: A Step-by-Step Guide.” Trust & Will, n.d.,
https://trustandwill.com/learn/how-to-write-a-letter-of-instruction . Accessed 1 Dec. 2025.

2. AARP Education & Outreach. “State Your Intentions With a Letter of Instruction.” AARP, 9 Nov. 2022,
https://www.aarp.org/money/retirement/letter-of-instruction/ . Accessed 1 Dec. 2025.

3. Kuffel, Hunter. “Writing a Letter of Instruction for Your Estate Plan.” SmartAsset, 12 Oct. 2025,
https://smartasset.com/estate-planning/letter-of-instruction . Accessed 1 Dec. 2025.

4. McDonald Jacobs. “Letter of Instruction in Estate Planning.” McDonald Jacobs: Portland, Oregon Accountants & Business Consultants, n.d.,
https://www.mcdonaldjacobs.cpa/letter-of-instruction-in-estate-planning/ . Accessed 1 Dec. 2025.

What benefits does the GPC Pension Plan provide to employees of Genuine Parts Company, and how are these benefits calculated for both Group 1 and Group 2 employees? In the context of Genuine Parts Company, what are the critical factors that determine the pension benefits for employees and how have recent changes to the plan affected these calculations?

The benefits of the GPC Pension Plan for Genuine Parts Company employees are calculated based on the employee’s Final Average Monthly Earnings (FAME) and years of Credited Service. For Group 1 employees, benefits are frozen as of December 31, 2013, with the FAME calculated from the five highest-paid years within the last ten years of service before that date. For Group 2 employees, benefits are similarly frozen as of December 31, 2008, and the same calculation of FAME is applied using the highest earnings before that freeze date(Genuine Parts Company_P…).

How do the eligibility requirements of the GPC Pension Plan differ between Group 1 and Group 2 employees at Genuine Parts Company? Additionally, what specific service requirements must employees meet to qualify for the benefits under each group, particularly considering the impact of employment history and rehire status on benefits?

Eligibility requirements differ between Group 1 and Group 2 employees. Group 1 includes employees with Rule of 70 status, who opted to continue participation in the plan after January 1, 2009. Group 2 employees, which include those rehired before December 31, 2013, had their Credited Service frozen earlier in 2008. Group 1 employees have Credited Service frozen as of December 31, 2013, while Group 2’s freeze date is December 31, 2008(Genuine Parts Company_P…).

What strategies can employees of Genuine Parts Company consider for optimizing their pension benefits when transitioning to retirement? Are there specific actions that employees should take prior to retirement to enhance their benefit calculations under the GPC Pension Plan, particularly in relation to Credited Service and Final Average Monthly Earnings?

To optimize pension benefits, Genuine Parts Company employees should focus on maximizing Credited Service and Final Average Monthly Earnings (FAME). Ensuring a full work history before the freeze date (2013 for Group 1, 2008 for Group 2) can enhance the benefit calculation. Employees can also review their Social Security benefit estimates, which are considered in calculating their pension(Genuine Parts Company_P…).

How does the vesting process work for employees participating in the GPC Pension Plan at Genuine Parts Company, and what implications does it have for those contemplating early retirement? Furthermore, how does the ability to vest at different service intervals specifically impact the retirement planning of employees?

The vesting process for the GPC Pension Plan requires employees to accumulate vesting service years, which continues even after the freeze date. Employees are automatically fully vested after seven years of service, or if they worked at least one hour after December 31, 2013. Vesting ensures the right to the earned pension benefits, which may affect retirement planning, especially for those contemplating early retirement(Genuine Parts Company_P…).

What information should Genuine Parts Company employees know about the different forms of payment available under the GPC Pension Plan once they reach retirement age? How do options such as life annuities and lump-sum payments affect the overall financial planning for retiring employees?

Genuine Parts Company employees can choose from various forms of pension payments upon retirement, including life annuities, joint and survivor annuities, and lump-sum payments. Each option affects financial planning differently: life annuities provide steady income, while lump sums offer flexibility but require careful management to ensure long-term financial stability(Genuine Parts Company_P…).

In the event of a termination of employment, what options are available for employees of Genuine Parts Company to access their pension benefits under the GPC Pension Plan? Additionally, what are the specific procedures that employees must follow to ensure they receive their benefits in a timely manner?

In the event of termination, employees who are vested can access their pension benefits, either at their normal retirement age or earlier if they meet the eligibility criteria for early retirement. Employees must submit a request within 180 days of their termination date to receive benefits, with options for lump sum payments for amounts under $75,000(Genuine Parts Company_P…)(Genuine Parts Company_P…).

How can employees of Genuine Parts Company ensure that their beneficiaries are appropriately named under the GPC Pension Plan? What considerations should employees keep in mind when designating beneficiaries, particularly understanding consent needs for spouses and the impact of domestic relations orders?

Genuine Parts Company employees should ensure their beneficiaries are properly named, particularly if married. A spouse is the default beneficiary, but spousal consent is required if an employee designates someone else. Domestic relations orders may also affect beneficiary designations(Genuine Parts Company_P…).

What unique situations might affect the pension benefits of employees at Genuine Parts Company, and how does the plan specifically address employees on military leave or long-term disability? In these circumstances, what communication strategies should employees employ to navigate their benefits?

For employees on military leave or long-term disability, the GPC Pension Plan provides special rules for calculating benefits. These employees should maintain close communication with the Employee Service Center to ensure their benefits are appropriately adjusted(Genuine Parts Company_P…).

Regarding the reporting and update of personal information, why is it essential for employees of Genuine Parts Company to keep the GPC Employee Service Center informed about any changes in marital status or address? How can failure to report these changes potentially impact the pension benefits they receive?

Employees must keep the GPC Employee Service Center informed of any changes in marital status or address, as failure to do so could result in delayed or incorrect pension benefit payments(Genuine Parts Company_P…).

How can employees at Genuine Parts Company reach out for further clarification on the details presented in the Summary Plan Description of the GPC Pension Plan? What resources or contact points are available that could assist in navigating the complexities of the pension plan, ensuring employees can maximize their benefits effectively?

Genuine Parts Company employees can reach out to the GPC Retirement Plan Services through their toll-free number or website for clarification on the pension plan details. These resources are crucial for navigating the complexities of the pension system(Genuine Parts Company_P…).

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Pension Plan Name of the Pension Plan: Genuine Parts Company Defined Benefit Pension Plan Years of Service and Age Qualification: Employees generally need to have at least 5 years of service to qualify for benefits. Full benefits typically begin at age 65, but early retirement options may be available with reduced benefits. Pension Formula: The pension is calculated based on a formula that takes into account the employee's years of service and average salary over the highest-paid years. 401(k) Plan Name of the 401(k) Plan: Genuine Parts Company 401(k) Plan Eligibility: Employees are eligible to participate in the 401(k) plan after completing 30 days of service. 401(k) Plan Details: The plan allows employees to contribute a portion of their salary to a tax-deferred account, with potential company matching contributions.

Restructuring and Layoffs: In early 2024, Genuine Parts announced a significant restructuring initiative aimed at streamlining operations and enhancing efficiency. This restructuring plan includes the reduction of approximately 5% of its workforce across various divisions. This move is expected to help the company better adapt to market fluctuations and optimize its operational costs. The restructuring reflects broader industry trends as companies adapt to evolving economic pressures and changing market dynamics.

Genuine Parts Company (GPC) Stock Options and RSUs in 2022 GPC offered stock options and RSUs to executives and key employees as part of their compensation package. The stock options typically included a strike price set at market value at the grant date. RSUs granted by GPC generally vested over a period of three to four years, with the exact vesting schedule specified in individual agreements. Genuine Parts Company (GPC) Stock Options and RSUs in 2023 In 2023, GPC continued to offer stock options and RSUs to their management team and senior employees. The stock options were often part of performance-based compensation. The RSUs were allocated with a focus on aligning employee incentives with company performance, typically vesting in tranches over a multi-year period. Genuine Parts Company (GPC) Stock Options and RSUs in 2024 For 2024, GPC maintained its stock option and RSU programs, enhancing the benefits for senior executives and select high-performing employees. The company adjusted the vesting criteria and performance metrics for RSUs to reflect the company's strategic goals and market conditions.

1. Official Website and Key Benefits Information Genuine Parts Company Official Website Visit: Genuine Parts Careers Review sections on employee benefits and health plans. Look for specific healthcare-related terms and acronyms. Key Terms and Acronyms: HDHP: High Deductible Health Plan HSA: Health Savings Account EAP: Employee Assistance Program FSA: Flexible Spending Account PPO: Preferred Provider Organization HMO: Health Maintenance Organization Recent Updates: Genuine Parts Company offers comprehensive health benefits, including medical, dental, and vision plans. They also provide wellness programs and access to telemedicine services. 2. Reliable Sources and Recent Employee Healthcare News a. Glassdoor Search for Genuine Parts Company’s benefits reviews. Look for employee feedback on healthcare coverage and recent changes. b. Indeed Check employee reviews and Q&A sections for insights into health benefits. c. LinkedIn Explore company posts and employee discussions about health benefits. d. BenefitsPro Look for articles or reports on Genuine Parts Company’s health benefits updates and changes. e. Business Insider Search for news articles related to recent changes in health benefits or related employee programs at Genuine Parts. 3. Summary of Findings Healthcare Plans: Genuine Parts offers a range of health insurance options including PPO and HDHP plans, with contributions to HSAs and FSAs. They also provide access to preventive care and wellness programs. Recent Changes: Recent updates to their health benefits have included enhancements to telemedicine services and expanded mental health support through EAP programs. Employee Feedback: Employees generally appreciate the comprehensive coverage but have noted that premium costs and deductibles can be high.