Do you have a Living Will? To Living Will or to not to Living Will.
These questions lend themselves to more questions: How well do you know
and trust your loved ones? How confident are you that they understand
your core values and views on what your final wishes are? Are you
really sure they will respect the passing comment you made regarding
your wishes in the case of terminal illness or vegetative state?
LIVNG WILL: WHAT IS IT?
The answer to these questions can often be resolved with a Living Will.
A Living Will is a type of Advance Directive that outlines your
treatment wishes should you become terminally ill or fall into a
persistent vegetative state. While you have the option of making your
Living Will oral or written, it is advised to have a written Will in
case you are unable to communicate at the time when the Living Will is
to be carried out.
A Living Will outlines to a healthcare professional which services you
do and do not want. You can state that you do not want cardiopulmonary
resuscitation, or a respirator, but you do want feeding tubes to
provide you with necessary nutrition and you want to die at home.
Living Wills are often written in vague terms because you are trying to
cover a variety of circumstances which are unknown to you when the Will
is drafted. You may choose to sign a more restrictive Living Will,
known as Do Not Resuscitate which prohibits the use of cardiopulmonary
techniques to keep you alive during cardiac arrest.
It should be noted that unless you are wearing a special identifier
such as a bracelet, your Living Will does not apply to the efforts of
an Emergency Medical Team (EMT). There has been much debate in the news
involving contrasting views on Living Wills, and most people will
remember the Terri Schiavo case as an excellent example for debating
the issue for drafting a Living Will.
PROS OF A LIVING WILL
A Living Will, as with a standard Will, is a legal document and must be
signed in the presence of witnesses and notarized. The importance of
having a Living Will is that it clarifies to family and healthcare
professionals which treatments you do and do not want if you are unable
to speak for yourself. Although the wording in a Living Will is often
ambiguous to cover a variety of situations, you might be surprised what
can happen without one.
In the absence of a Living Will, most states will elect someone close
to you (usually a family member) to make decisions for you. This person
(sometimes referred to as the surrogate) may have no idea what your
personal beliefs are regarding artificial nutrition and resuscitation,
but if you are unable to speak for yourself this individual must act in
what they feel is your best interest.
In some states the appointment of this surrogate will only occur when
you are determined terminally ill, and all treatments leading up to
this diagnosis are up to your doctor who has taken an oath to preserve
life. If you have a Living Will you can alleviate indecision in your
family by outlining the terms of your treatment.
You are never too young to draft a Living Will, and you may want to
consider writing one “just in case". The future can be unpredictable
and it is better to be prepared than suffer an accident and leave
others to decide your fate, especially if your religious beliefs
conflict with artificial medical treatments such as feeding tubes.
CONS TO A LIVING WILL
There are limitations associated with Living Wills. A Living Will is
often written in vague terms. What “heroic measures" mean to you may
not be the same as what it means to your doctor. Your definition of
“heroic measures" might mean that you do not want feeding tubes used to
sustain your life if you are unable to eat unassisted, but your doctor
may not feel that use of a feeding tube is a “heroic measure".
In addition, a Living Will is often not enacted until a person is
deemed terminally ill. Doctors may disagree on when your condition
falls into this category, and you may receive treatment which goes
against your values as outlined in your Living Will. It is possible to
be as specific as you want when drafting your Living Will, but keep in
mind that the more specific wording you use, the greater the chance of
excluding a wide range of scenarios in which you would want your Living
Will applied.
One of the more common downsides to a Living Will is that it is not
readily accessible to your healthcare provider. Some people choose to
keep their Living Will locked up in a safety deposit box or another
secretive location in their home. If you fail to provide your doctor
with a copy of your Living Will, and you become unable to communicate,
they will treat you as if you never had a Living Will drafted.
FREE LIVING WILL FORMS: HOW TO DRAFT A LIVING WILL?
Although you may be uncomfortable talking to your doctor about drafting
a Living Will, your healthcare provider has access to free living will
forms which are state specific. The Internet can also be used as a
source for finding free living will forms, although it is wise to check
with an attorney when using these forms or if you move to a different
state to ensure your Living Will is in accordance with state laws.
A Living Will is revocable and you can change your mind at any time.
You can obtain new forms from your doctor or attorney and change your
mind whenever you want by completing a new free Living Will form. Once
you have completed your Living Will it is important to provide a copy
to your doctor, a potential surrogate, and other family members so
there is no doubt what your final wishes are if or when a situation
arises.
Rocco and his team of bonded professional attorneys, CPAs and
accountants help affluent individuals and companies retain control of
their domestic and foreign/offshore assets, protect their assets, build
& preserve their wealth and financially structure their money to
reduce capital gains taxes, estate taxes, inheritance taxes, avoid the
probate process and decrease income taxes.
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Rocco Beatrice, CPA, MST, MBA, Award-winning trust & estate-planning expert
71 Commercial Street #150 Boston, MA 02109 tel: 508.429.0011 fax: 508.429.3034
Click here for more info: http://www.UltraTrust.com, http://ultratrust.com/tax-sheltered-annuity.html
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
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