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Granite Construction Families: Why a Letter of Instruction Can Simplify Estate Planning

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'Granite Construction 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.

'Granite Construction 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 Granite Construction 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 Granite Construction 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 Granite Construction 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 Granite Construction 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 Granite Construction 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 Granite Construction 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 Granite Construction 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 .

Featured Video

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 type of retirement savings plan does Granite Construction offer to its employees?

Granite Construction offers a 401(k) retirement savings plan to help employees save for their future.

How can Granite Construction employees enroll in the 401(k) plan?

Granite Construction employees can enroll in the 401(k) plan through the company's HR portal or by contacting the HR department for assistance.

Does Granite Construction match employee contributions to the 401(k) plan?

Yes, Granite Construction provides a matching contribution to employee 401(k) accounts, subject to certain limits.

What is the maximum contribution limit for the Granite Construction 401(k) plan?

The maximum contribution limit for the Granite Construction 401(k) plan is in line with IRS regulations, which can change annually. Employees should check the latest limits for the current year.

Can Granite Construction employees take loans against their 401(k) savings?

Yes, Granite Construction allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.

What investment options are available in the Granite Construction 401(k) plan?

The Granite Construction 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How often can Granite Construction employees change their 401(k) contribution amounts?

Granite Construction employees can change their 401(k) contribution amounts at any time, typically during open enrollment or through the HR portal.

Is there a vesting schedule for Granite Construction's 401(k) matching contributions?

Yes, Granite Construction has a vesting schedule for its matching contributions, which means employees must work for the company for a certain period before they fully own those contributions.

What happens to Granite Construction employees' 401(k) accounts if they leave the company?

If Granite Construction employees leave the company, they can choose to roll over their 401(k) funds to another retirement account, cash out, or leave the funds in the Granite Construction plan, subject to plan rules.

Are there any fees associated with the Granite Construction 401(k) plan?

Yes, there may be administrative and investment fees associated with the Granite Construction 401(k) plan. Employees should review the plan documents for specific details.

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

Granite Construction provides a comprehensive retirement benefits package, which includes the Granite Construction Profit Sharing and 401(k) Plan. This plan is a defined contribution plan, where employees can voluntarily contribute a portion of their pre-tax earnings towards their retirement. Granite Construction offers a 401(k) matching contribution that is 100% of employee contributions up to 6% of compensation, with employees becoming eligible for this match after six months of service (JobzMall) (SEC.gov). In addition to the 401(k) plan, Granite Construction offers a Profit Sharing Plan, which is tied to company profits. The profit-sharing contributions are discretionary and vary depending on the company's earnings (SimpleQDRO). Employees who work for Granite Construction for 10 years or more may also qualify for a pension plan, which complements their retirement savings (JobzMall). Furthermore, Granite Construction provides an Employee Stock Ownership Plan (ESOP), where the company contributes newly issued stock or cash that is used to purchase shares for the employees. This further enhances the retirement benefits available to employees

Restructuring Layoffs: Granite Construction has undergone a significant restructuring effort across its operations throughout 2023-2024. The company reported adjusting its leadership and operational segments to align with market trends, which resulted in notable workforce reductions and asset divestitures (World Construction Network). The adjustments have been positioned as necessary to navigate economic pressures, supply chain disruptions, and increased labor costs. This news is crucial due to the current economic climate, as companies in the construction sector are especially vulnerable to market volatility and regulatory changes. Addressing these layoffs is vital to understanding the broader trends in construction employment and their ripple effects on communities and the economy.

Granite Construction offers stock options and Restricted Stock Units (RSUs) under their 2012 and 2021 Equity Incentive Plans. These stock options are performance-based and are made available to employees as part of their compensation packages. Granite (GVA) employees are eligible to participate in the company's equity awards based on their role and performance, which align with the company’s strategic financial and non-financial goals (Last10K) (SEC.gov). Stock options and RSUs at Granite Construction are available to both managerial and supervisory personnel, aiming to enhance retention and reward significant contributors to the company's success (SEC.gov) (SEC.gov). In 2022, 2023, and 2024, Granite Construction (GVA) continued offering RSUs and stock options as part of its performance-based incentive structure. These RSUs vest over a defined period, typically contingent on meeting certain performance criteria or service durations (SEC.gov). Eligible employees include salaried personnel, primarily those in management roles across the company’s diverse sectors (Granite Construction). The incentive programs are designed to align employee interests with shareholders, promoting long-term growth and value creation

Medical Plans: Granite Construction offers comprehensive healthcare benefits, including options like PPO (Preferred Provider Organization) and HSA (Health Savings Account) plans. Anthem Blue Cross is a major provider for Granite's medical coverage, offering various plan structures such as HSA plans with high deductibles (e.g., $3,000 deductible). Employees typically have access to preventive care, primary care, and specialist visits with coverage based on plan selection. Acronyms and Healthcare-Related Terms: PPO (Preferred Provider Organization): Employees can choose providers within a network for lower out-of-pocket costs. HSA (Health Savings Account): Employees may contribute pre-tax dollars to an account for healthcare expenses. COBRA: Coverage continuation for employees after employment termination or certain life events. Open Enrollment: The annual period where employees can select or change their benefit elections. Recent Employee Healthcare News: Granite Construction has updated its benefit offerings to comply with federal healthcare reform laws, including the Affordable Care Act (ACA). In 2023 and 2024, employees have been encouraged to use online benefits platforms like Workday for enrollment. 100% company-paid health insurance for some employee categories continues to be a key benefit, particularly for those enrolled in high-deductible health plans (HDHPs) that integrate with HSAs.

Additional Articles

Check Out Articles for Granite Construction employees

For more information you can reach the plan administrator for Granite Construction at , ; or by calling them at .

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