What is a Living Will?

    A living will is a legal document that describes end-of-life preferences related to your medical care in the event that you cannot make decisions for yourself. This allows your loved ones and healthcare providers to honor your choices regarding advanced care and life-sustaining treatments.

    Living wills are flexible documents that can be customized to reflect your personal wishes and values. If you choose, your living will can address:

    • Medical treatments: You can indicate precisely which life-sustaining procedures you do or do not want, including feeding tubes, ventilators, and dialysis.
    • Pain management preferences: Use your living will to express your desires for certain comfort measures and palliative care services.
    • Organ and tissue donation wishes: A living will can include your wishes to be an organ donor, directing providers to keep you on life support until organ and/or tissue donation procedures are complete.
    • Care location choices: You can also include your preferences for end-of-life care, whether that is at home, a hospital, or an inpatient hospice facility.

    Your living will specifies certain conditions in which it will take effect, such as if you are permanently unconscious or have a terminal illness. Certainly, these decisions can be challenging, but they are helpful so your decisions may be carried out and can possibly reduce stress and conflict for your loved ones.

    If you have never thought about end-of-life care in this way, take the time to understand your options. Consult a trusted healthcare provider to discuss these medical terms and treatments so you can make informed decisions based on your personal beliefs and values.

     

    State Considerations for Living Wills

    Working with an estate planning attorney may also be helpful to ensure that your living will meets state legal requirements.

    Some states may also maintain a registry for living wills that makes them readily accessible for healthcare providers.

    Once complete, you should distribute copies to your physician, healthcare agent, and family for safekeeping. Schedule time to periodically review your living will and other documents with your EP Wealth advisor and your attorney.

     

    Living Will vs. Medical Power of Attorney: Are They the Same?

    While a living will and healthcare power of attorney (POA) work together within a larger plan, they differ in a few ways. A living will states your end-of-life preferences, while a healthcare POA designates a person to make decisions on your behalf.

    The healthcare POA may have authority to make decisions in situations not included in your living will.

    Experienced estate planning professionals at EP Wealth can work with you to help simplify advanced care planning, which may potentially provide peace of mind for you and those who care about you. For guidance and support on planning for your living will, find an advisor near you.

    DISCLOSURES:

    • Information presented is general in nature and should not be viewed as a comprehensive analysis of the topics discussed. It is intended to serve as a tool containing general information that should assist you in the development of subsequent discussions. Content does not involve the rendering of personalized investment advice nor is it intended to supplement professional individualized advice.
    • Hiring a qualified advisor and/or financial planner does not guarantee investment success, and does not ensure that a client or prospective client will experience a higher level of performance or results. No guaranty or warranty is made that any direct or implied results or projections being represented here will be met or sustained.
    • The need for a financial advisor or financial planner and/or the type of services required are specific to the uniqueness of each individual’s circumstances. There is no guarantee or warrantee that the services offered by EP Wealth Advisors, LLC will satisfy your specific financial services requirements. Services offered by other advisors may align more to your specific needs.
    • EP Wealth Advisors, LLC. is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the advisor has attained a particular level of skill or ability
    • Request an appointment with an EP Wealth Advisor when you have a minimum of $500,000 in investable assets – which includes qualified retirement plans (IRA, Roth IRA, 401(k), taxable brokerage, cash (savings / checking) and CDs. Investable assets do not include your home, vehicles, or collectibles.
    • An estate plan is a helpful tool that can assist individuals in managing and arranging affairs in the event of death or incapacity. However, the scope and extent of the plan varies depending on the unique circumstances and desires of the individual client. It is for this reason, that the analysis encompassed herein is not intended to be comprehensive in nature nor should it be interpreted as legal advice. Please consult a legal professional to determine the extent, scope, and the drafting and creation of the appropriate estate documents. EP Wealth Advisors is not in the business of providing legal advice or preparing legal documents. Our review is limited to and in association with Financial Planning only.
    • Laws vary by state. The information presented herein is intended to be general in nature and may not apply to your state of domicile. Please consult local legal counsel to determine the best practices for your state.

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