When estate planning, you might focus solely on what happens to your assets after you pass away. However, consider adding a living will to your estate planning toolkit. This vital document could provide guidance and peace of mind during challenging times.
What Is a living will?
A living will, or advance directive, specifies your medical treatment preferences for situations when you cannot communicate your wishes. It typically addresses end-of-life care decisions, such as whether you want your family to keep you on life support or receive specific medical interventions.
What are the benefits of including a living will?
Adding a living will to your estate plan could offer the following advantages:
Ensures respect for your wishes
By creating a living will, you control your medical care even when you cannot speak for yourself. This document helps ensure that your family follows your healthcare preferences, potentially preventing unwanted treatments or procedures.
Reduces family stress
In times of crisis, your loved ones may struggle to make tough decisions about your care. A living will may alleviate this burden by clearly stating your preferences, potentially preventing conflicts and emotional distress among family members.
Provides peace of mind
Knowing that you have made your healthcare wishes known could offer you significant peace of mind. You may rest assured that you have taken steps to maintain control over your medical care, even in challenging circumstances.
Complements other estate planning documents
While a will or trust addresses what happens to your assets after death, a living will focuses on your care while you’re still alive. Including both documents in your estate plan creates a more comprehensive approach to protecting your interests and wishes.
Flexibility and adaptability
Your living will can be as specific or general as you would like, and you may update it as your preferences change over time. This flexibility allows you to tailor the document to your unique needs and values.
Consider consulting an attorney to guide you through creating a comprehensive estate plan that includes a living will.