According to information provided by http://www.plan-my-estate.com an an estate planning and asset protection resource web site, a living will, known in most states as a Directive to Physicians or Healthcare Directive, sets out your wishes about what extended medical treatment should be withheld or provided if you become unable to communicate those wishes.
Last Will And Testament Planning Is Necessary
Ready to start thinking about your Last Will and Testament but don’t know where to start?
What Does A Living Will Declare?
And who needs a living will? Basically, a living will is a form of expression of independence. We are, after all, free to decide, in life and in death. The expression living will is sometimes used to refer to a document in which you write down what you want to happen if you become ill and cannot communicate your wishes about treatment. It is quite common, for example, for people to write a living will saying that they do not want to be kept alive on artificial life supports i…
How can an estate plan help me?
Do you know how your life will be divided after your death? Who will
your estate go to? Who will look after your children? With an estate
plan you decide. You are in control of your familys security in the
event that something tragic should happen.
A Living Will Could Save Family Financial Ruin
You dont need to be an economics major to figure out that if health care is going up 10% or more every year while income is only going up 4%, things are looking too good. It is entirely possible for a person to work their entire life and retire with a nest egg of $200,000 or more only to have it wiped out by one major medical issue. This is especially the case when machines must be used to keep you alive due to a severe injury or illness. It is in tragic times like these tha…