What Is A Living Will?

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Learn More About What Is a Living Will and Why Durable Designation is Quite Important Here

WHAT IS A LIVING WILL?

DENNIS D. DUFFY Iowa Estate Planning Attorney


When you plan your estate you facilitate the transfer of your monetary assets to your heirs after you pass away. This is part of the equation, but you should also prepare for the latter stages of your life when you are creating an estate plan.

ADVANCE DIRECTIVES FOR HEALTH CARE It is very possible that you will become incapacitated during the latter portion of your life. Some people suffer from mental incapacitation, and others become physically unable to communicate. When you create an incapacity plan you include documents called advance directives for health care. The decisions that you record in these directives would be honored if you were to become incapacitated.

LIVING WILL A living will does not have anything to do with the transfer of financial assets. This is a different type of will. When you create a living will you express your preferences regarding the use of lifesustaining measures in the event of your incapacitation. Sometimes doctors can keep terminally ill patients alive indefinitely through the utilization of artificial means. There is no hope of recovery, and the patient cannot communicate, but he or she can be kept alive. Life-sustaining measures can include artificial nutrition

What Is a Living Will?

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and hydration, and mechanical respiration. Whether or not you would want to be kept alive under these circumstances is a personal decision. You use a living will to record this decision in a legally binding manner.

IMPORTANT FOR ADULTS OF ALL AGES All responsible adults should have an estate plan in place that includes advance health care directives. Younger adults are involved catastrophic accidents each and every day. Some fall victim to serious illnesses. When you have a living will in place, you can be sure that your wishes will be honored should you become incapacitated and unable to communicate.

DURABLE POWER OF ATTORNEY A living will is an essential advance directive for health care. However, it is not the only advance directive that is recommended. There are various different health care decisions that could present themselves. You are not going to be able to address every possible scenario when you create your living will. To account for this you should also execute a legal device called a durable power of attorney

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for health care or health care proxy. With a durable power of attorney for health care you name an agent or attorney-in-fact. This individual will be legally empowered to make medical decisions on your behalf in the event of your incapacitation. The durable designation is quite important here. A power of attorney that is not durable would not remain effective if the grantor or principal was to become incapacitated. Durable powers of attorney do remain active upon the incapacitation of the principal.

IMPACT ON YOUR FAMILY When you execute advance directives for health care you assert your own personal choices. This is the most compelling reason to take action. However, you also take difficult decisions out of the hands of your loved ones, and you prevent potential disagreements before they happen. What consequences could come about if you did not have your advance directives in place? If you were to become incapacitated and unable to communicate, your closest relative would be asked to make decisions on your behalf. When you are talking about the life or death of a parent, child, or a sibling, this is an excruciating position to be placed in. In addition to this, everyone in the family may not be on the same page. Family

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FREE REPORT

members could disagree with regard to the correct course of action, and a very difficult situation could become even worse. Arguments and hard feelings could develop among your loved ones during a time when they should be coming together to support one another. When you execute your advance directives for health care you are protecting yourself, but you are also protecting your family. CONCLUSION A living will is an advance directive for health care. You use this document to record your wishes regarding the implementation of lifesustaining measures in the event of your incapacitation. Advance directives for health care are typically going to be part of any comprehensive incapacity plan. An incapacity plan is going to be a component that is contained within a broader estate plan.

What Is a Living Will?

Living Trusts: Plan Ahead for Your Family's Future Creating Trusts and Living Trusts Put Your Family First A Living Trust is a very versatile estate planning tool - one that can be customized to suit all your needs. Click to Download Your Free Report Today

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If you are currently going through life without a living will, you should certainly discuss incapacity planning with a licensed estate planning attorney.

REFERENCES American Bar Association http://www.americanbar.org/groups/law_aging/resources/health_care_decision_ making/consumer_s_toolkit_for_health_care_advance_planning.html

Iowa Bar Association http://www.iowabar.org/?page=18PowerofAttorney

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About the Author Dennis D. Duffy Dennis Duffy combines an extensive background in business with a wide range of legal experience to provide his clients with a uniquely practical perspective. An attorney since 1989, he practices primarily in Estate Planning, Wills, Trusts and Probate. Mr. Duffy also offers frequent educational seminars on a variety of estate planning topics to both the general public and private groups in the Quad Cities area.

Experience Mr. Duffy has been practicing law since 1989, when he joined the general practice firm of Bozeman, Neighbour, Patton&Noe in Moline Illinois. In 1990, Mr. Duffy and five other attorneys founded the law firm of Anderson & Nelson, with offices in Rock Island, Illinois and Davenport Iowa; the firm eventually grew to 12 attorneys, with Mr. Duffy as managing partner. He founded Duffy Law Office in 1995. Before returning to school for his advanced law and business degrees, Mr. Duffy worked for nearly a decade for Per Mar Security & Research Corp. in Davenport, as Vice President. Mr. Duffy is a member of the American and state bar associations of both Iowa and Illinois as well as the Scott and Rock Island County Bar Associations. He is an executive member of the American Academy of Estate Planning Attorneys. He is coauthor of the book Estate Planning Basics – A Crash Course in Safeguarding Your Legacy. Also, the American Academy of Estate Planning Attorneys announced that Mr. Duffy was honored with the Academy Fellow designation. The Fellow program recognizes Academy Members who demonstrate advanced expertise and significant practical experience in the estate planning, trust, tax planning, guardianship, probate and estate administration fields.

Duffy Law Office Helping Families Preserve their Wealth www.duffylawoffice.com 1840 E. 54th Street Davenport, IA 52807

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