When it comes to estate planning and wills,
you have a variety of options for legal documents. The most common of these
options is a “last will and testament,” which is also known simply as a “will.”
A “living will” provides for your wishes
in end of life situations. Both terms
describe important legal documents used in estate planning, but their purpose
and function differ significantly.
A living will,
also called an advance healthcare directive, is a legal document that tells
your loved ones and doctors how you would want your medical care handled if you
become incapacitated and cannot make such decisions yourself, particularly at
the end of life. Specifically, a living
will outlines the procedures, medications, and treatments you would want and
would not want to prolong your life if you cannot make such decisions yourself.
For example, within the terms of your living
will, you can articulate certain decisions, such as if and when you would want
life support removed should you ever require it and whether you would want
hydration and nutrition supplied to prolong your life.
Beyond instructions about your medical care, a
living will can even describe what type of food you want and who can visit you
in the hospital. These are critical considerations for your well-being at a
time of greatest need for you. If you haven’t provided any specific
instructions, decisions will be made on your behalf that you may or may not
want.
Living Will vs. Last Will And Testament
Upon death, a last will and testament ensures
your assets are distributed as you choose. Note that your last will only deals
with your assets and only operates upon your death. In contrast, a living will is about you, not
your assets, and it operates in the event of your incapacity, not your
death. I really dislike the use of
“living will” and prefer to use another term, which is a “Physician’s
Directive” because the purpose of the document is to instruct your doctors
regarding what you want at the end of your life medically.
Living Will vs. Medical Power of
Attorney
A medical power of attorney is the part of an
advance healthcare directive that allows you to name a person, known as your
“agent,” to make healthcare decisions for you if you are incapacitated and
unable to make those decisions yourself.
Simply put, the medical power of attorney
names those who can make medical decisions in the event of your incapacity
(which may not necessarily be end of life), while a living will explains how
you would want your medical care handled at the end of your life.
Why Having A Living Will Is So
Important
A living will is a vital part of every adult’s
estate plan, as it can ensure your medical treatment is handled exactly the way
you want if you cannot communicate your needs and wishes. Additionally, a
living will can prevent your family from undergoing needless trauma and
conflict during an already trying time.
Without a living will, your family would have
to guess what treatments you might want, and your loved ones are likely to
experience stress and guilt over the decisions they make on your behalf. In
worst cases, your family members could even end up battling one another in
court over who should manage your medical care and how.
Should You Rely On A Living Will
Created Online?
Regarding your medical treatment and
end-of-life care, you have unique needs and wishes that cannot be anticipated
or adequately addressed by generic documents or without the counseling and
guidance we can provide through your decision-making process.
To ensure your directives are tailored to suit
your unique situation, work with experienced estate planning professionals to
support you to create and/or review your living will.
How We Can Help
Even if you have a
professionally prepared and well-thought-out living will, it won’t be worth the
paper it’s printed on if nobody knows about it. A living will comes into effect
the second you sign it, so you should immediately deliver copies to your agent,
alternate agents, primary care physician, and other medical specialists. There are also services through your state or
companies like Docubank that will store these documents online so it’s easy for healthcare
providers to access them.
Additionally, don’t forget
to update these documents every few years and give the agents and healthcare
providers new versions (and have them destroy the old documents). Contact us today to get this critical document, and any other estate
planning documents, in place.
This article is a service of Ganvir Law, Personal Family
Lawyer®. We do not just draft documents; we ensure you make informed and
empowered decisions about life and death, for yourself and the people you love.
That's why we offer a Family Wealth Planning Session™, during which you will
get more financially organized than you’ve ever been before and make all the
best choices for the people you love. You can begin by calling our office today
to schedule a Family Wealth Planning Session and mention this article.