Living Will
Quick Definition
A legal document specifying medical treatment preferences if a person becomes unable to communicate their wishes.
Key Takeaways
- A living will guides medical decisions when you cannot speak for yourself
- It is different from a regular will, which deals with asset distribution after death
- Combine a living will with a healthcare power of attorney for comprehensive coverage
- Review and update your living will every few years or after major health changes
What Is Living Will?
A living will (also called an advance directive) is a legally binding document that outlines an individual's preferences for medical care in situations where they become incapacitated and unable to communicate their wishes. It addresses critical decisions such as the use of life-sustaining treatments (ventilators, feeding tubes, dialysis), resuscitation preferences (DNR orders), pain management, and organ donation. A living will works in conjunction with a healthcare power of attorney, which designates a trusted person to make medical decisions on the individual's behalf. Every adult should have a living will regardless of age or health status, as unexpected medical emergencies can occur at any time. Without one, family members may face agonizing decisions without guidance.
Living Will Example
- 1A living will specifies that the individual does not want to be kept on life support if they are in a persistent vegetative state.
- 2After a serious car accident, a patient's living will guides doctors to administer pain medication but avoid CPR if the heart stops.
- 3Many states offer free or low-cost living will forms, or they can be created through an estate planning attorney for $100-300.
Related Terms
Estate Planning
The process of arranging for the management and transfer of assets during life and after death.
Power of Attorney (POA)
A legal document granting another person authority to make financial, legal, or medical decisions on your behalf.
Trust Fund
A legal entity that holds and manages assets for the benefit of designated beneficiaries according to specific terms.
Beneficiary
A person or entity designated to receive assets, benefits, or proceeds from a financial account, insurance policy, trust, or estate.
FAFSA (Free Application for Federal Student Aid)
The federal form used to determine eligibility for financial aid including grants, loans, and work-study programs.
401(k)
An employer-sponsored retirement savings plan with tax advantages, often including employer matching contributions.
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