What is the difference between a living will and a Last Will and Testament?

A living will is a legal document that outlines your medical treatment preferences if you become incapacitated and unable to make decisions for yourself. It applies while you are alive. A Last Will and Testament, on the other hand, specifies how your assets will be distributed and who will care for minor children after your death.

How old do I need to be to create a living will?

You must be at least 18 years old and of sound mind to create a legally binding living will. It is recommended for all adults, regardless of age or health status, as unexpected medical emergencies can occur at any time.

Can I change my living will after I've created it?

Yes, you can change or revoke your living will at any time, as long as you are of sound mind. To make changes, you should create a new document, ensuring it is properly signed, witnessed, and/or notarized according to your state's laws. Remember to destroy all old copies and distribute the new version.

Who should I choose as my healthcare agent?

Your healthcare agent (or proxy) should be someone you trust implicitly, who understands your values and wishes, and who is willing and capable of making difficult medical decisions on your behalf. This person should be a good communicator and able to advocate for your interests, even under pressure.

What happens if I don't have a living will?

If you become incapacitated without a living will or healthcare power of attorney, medical decisions may fall to your closest family members, often in a state-determined hierarchy. This can lead to family disagreements, emotional distress, and potentially costly legal battles to appoint a guardian or conservator, draining your assets and causing unnecessary hardship.

Where should I keep my living will?

Keep the original living will in a safe, accessible place at home, not in a bank safety deposit box that may be difficult to access quickly. Provide copies to your healthcare agent, your primary care physician to include in your medical records, and other trusted family members. Consider carrying a card in your wallet indicating you have an advance directive.

Does a living will cover financial decisions?

No, a living will specifically addresses medical treatment decisions. For financial matters, you need a separate document called a Durable Power of Attorney for Finances. This appoints someone to manage your financial affairs if you become incapacitated.

Living Will Guide: Protect Your Health & Finances | One…