The estate planning process is complex and has many elements to consider. If you are in the early stages of estate planning, you might be considering a living will as part of your plan. While most people are familiar with traditional wills, a living will is different because it focuses on your medical care wishes when you are unable to make those decisions yourself.
A living will is beneficial for many people.
Do you have a chronic or terminal illness?
Many chronic illnesses can cause long-term health problems and even cause incapacitation in some cases. Terminal illnesses often lead to periods of incapacitation during treatment, even if they are only brief periods. If you have a chronic or terminal illness that leaves you facing an increased chance of incapacitation periods, you should complete a living will to clearly define your medical care directives and appoint a medical durable power of attorney.
Are you getting older?
As you approach middle age and beyond, it becomes more important than ever to consider a living will. Older adults face more medical problems, tend to take greater risks, and are more likely to find themselves in an accident. Since this stage of your life often also comes with having children, you should always have a living will in place so that they do not have to try to make those decisions for you.
These are two common instances when a living will is beneficial. Consider a comprehensive estate plan now to protect your beneficiaries.