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Lennox International Families: Why a Letter of Instruction Can Simplify Estate Planning

Healthcare Provider Update: Lennox International utilizes the services of Aetna as its healthcare provider, offering employees access to a variety of health insurance plans. As we approach 2026, healthcare costs are projected to rise significantly, impacting individuals across the country, including employees at Lennox International. The anticipated expiration of enhanced federal premium subsidies from the Affordable Care Act (ACA) could lead to a staggering increase in premiums, with some states reporting hikes of over 60%. This perfect storm of factors-escalating medical costs exacerbated by a highly profitable insurance sector-may see many consumers facing out-of-pocket premium increases exceeding 75%, creating financial strain for those dependent on ACA marketplace plans. It's imperative for employees to prepare and consider their options carefully in the face of these impending changes. Click here to learn more

'Lennox International 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.

'Lennox International 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 Lennox International 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 Lennox International 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 Lennox International 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 Lennox International 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 Lennox International 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 Lennox International 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 Lennox International 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 types of retirement plans does Lennox International offer to its employees?

Lennox International offers a 401(k) Savings Plan that allows employees to save for retirement through pre-tax contributions.

How can employees of Lennox International enroll in the 401(k) Savings Plan?

Employees of Lennox International can enroll in the 401(k) Savings Plan during their onboarding process or during open enrollment periods.

Does Lennox International match employee contributions to the 401(k) Savings Plan?

Yes, Lennox International offers a matching contribution to the 401(k) Savings Plan, which helps employees grow their retirement savings.

What is the maximum contribution limit for the 401(k) Savings Plan at Lennox International?

The maximum contribution limit for the 401(k) Savings Plan at Lennox International is subject to IRS limits, which can change annually. Employees should check the latest guidelines for specific amounts.

Can employees of Lennox International take loans against their 401(k) Savings Plan?

Yes, Lennox International allows employees to take loans against their 401(k) Savings Plan, subject to certain terms and conditions.

What investment options are available in the Lennox International 401(k) Savings Plan?

The 401(k) Savings Plan at Lennox International offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How often can employees change their contribution amounts to the 401(k) Savings Plan at Lennox International?

Employees at Lennox International can change their contribution amounts to the 401(k) Savings Plan on a quarterly basis or during designated enrollment periods.

Is there a vesting schedule for the employer match in the Lennox International 401(k) Savings Plan?

Yes, there is a vesting schedule for the employer match in the Lennox International 401(k) Savings Plan, which determines when employees fully own the matched contributions.

What happens to the 401(k) Savings Plan if an employee leaves Lennox International?

If an employee leaves Lennox International, they have several options for their 401(k) Savings Plan, including rolling it over to another retirement account or cashing it out, subject to taxes and penalties.

How can employees access their 401(k) Savings Plan account information at Lennox International?

Employees can access their 401(k) Savings Plan account information through the company's online benefits portal or by contacting the HR department.

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: Lennox International offers its employees the Lennox International Inc. 2008 Consolidated Pension Plan, which is available for U.S.-based employees. The pension formula used by Lennox is a Defined Benefit formula, where retirement benefits are determined based on years of service and final average earnings. This plan applies to employees with long-term tenure and is part of Lennox's broader efforts to offer retirement security. Lennox International calculates benefits based on a multiplier applied to the employee's final average salary and length of service. The company has historically adjusted pension funding as needed to account for market conditions. The 2008 Consolidated Pension Plan continues to be relevant through 2023 and 2024. [Source: SEC Filing, Page 45] (Lennox). 401(k) Plan: Lennox International offers a 401(k) plan to both salaried and hourly employees, referred to as the Lennox International Inc. 401(k) Plan. Employees are eligible to participate after meeting the required age and service thresholds. The company provides a matching contribution of up to 6%, which applies to all eligible employees. The 401(k) plan includes both traditional and Roth options, allowing employees to make pre-tax or post-tax contributions depending on their financial goals. The plan has continued to operate efficiently throughout 2022, 2023, and 2024, allowing employees to grow their retirement savings with company support. [Source: Lennox Annual Report, Page 72] (Lennox).

In 2023, Lennox International divested its European operations as part of its restructuring efforts to focus on its core North American market. This was driven by rising material costs, inflation, and a shift towards energy-efficient solutions. Lennox also projected a core revenue growth between 0-4% for 2023, with long-term revenue targets between $5.0-$5.5 billion by 2026. CEO Alok Maskara emphasized the importance of cost reduction and leveraging productivity initiatives to offset inflation (Lennox). Lennox’s restructuring and financial projections reflect the company’s efforts to remain competitive amid economic challenges and inflationary pressures. It is critical to address Lennox’s restructuring and benefit changes in light of the current economic, tax, and political environment. Rising costs and regulatory shifts in the energy sector are prompting companies like Lennox to focus on financial stability, sustainability, and innovation. The company’s ability to adapt to these challenges by cutting costs and focusing on core markets will significantly impact its long-term success and employee benefits.

Lennox International offers stock options and Restricted Stock Units (RSUs) to its employees as part of their executive compensation plan. In 2022, 2023, and 2024, Lennox International granted RSUs under time-based vesting schedules. These RSUs do not require employees to purchase shares; instead, shares are delivered upon vesting, which aligns with performance and retention goals. Stock options allow employees to purchase shares at a fixed price after meeting specific conditions. These plans aim to incentivize long-term employment and performance improvements for eligible employees. For instance, RSUs were granted on March 15, 2023, with 2,052 shares vesting, and future vesting schedules are set for March 15, 2024 (Lennox) (Lennox) (Lennox). Only executives and key employees, such as directors and covered persons under Section 16 of the Securities Exchange Act, are eligible to receive these RSUs and stock options

Lennox International offers a comprehensive suite of health benefits to its employees, emphasizing wellness and flexibility. Employees have access to various health plans, including medical, dental, and vision insurance, as well as flexible spending accounts (FSAs) and health savings accounts (HSAs). Lennox International also prioritizes mental health, offering programs such as employee assistance plans (EAPs) to support psychological well-being. Recent updates to Lennox's benefits structure reflect a growing focus on preventative care and wellness initiatives, which align with current trends toward promoting long-term employee health (Built In) (Lennox). These changes are particularly important in the current economic and political environment, where healthcare costs continue to rise, and there is increased pressure for companies to provide sustainable health benefits to attract and retain talent. In light of the growing demand for high-quality healthcare, Lennox International has also implemented benefits related to disability coverage, life insurance, and wellness programs, which include incentives for healthy living (Lennox). These initiatives are critical as companies face economic challenges and evolving tax regulations that could impact employer-provided health benefits. Addressing healthcare topics in this context is essential, as political decisions regarding healthcare policy can directly influence the stability and cost of corporate health plans. Lennox International's approach to healthcare aims to protect employees against rising healthcare expenses while ensuring compliance with current tax and economic policies

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

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