Making plans for the future distribution of your financial assets to your loved ones after you pass away is obviously part of what estate planning is all about. However, in addition to executing a will and/or a trust you should also have the appropriate advance directives for health care in place.
It is not uncommon for people to experience declining health before passing away. Sometimes the ability to make sound medical decisions is lost. This is when advance directives for health care become critical.
When you think about it logically and objectively, you can understand why you should take steps to prepare for the possibility of being unable to communicate your own choices. However, a recent survey found that 61% of adults in the United States have not taken the time to create a living will or advance health care directive.
This type of document does not involve the transfer of financial assets after you die. With a living will or advance health care directive, you state your choices regarding the utilization of life-sustaining medical procedures.
Without a living will or advance health care directive, your family members could be placed into a very difficult situation. Deciding whether or not someone should be taken off of life-support can be excruciating, and it is possible that everyone in the family may not agree on the correct course of action.
When you execute a living will or advance health care directive, you can be certain that your own choices will be known as you take preemptive action to circumvent potential acrimonious interactions among family