What you'll learn:
How to Make a Living Will
A living will is like your personal healthcare voice, all written down. It’s also known as an advance healthcare directive, and it’s super important.
Why? Because it’s all about making sure your wishes for medical care are heard, especially if you can’t speak for yourself and tough decisions need to be made.
This guide? It’s here to help you create that living will.
Why bother? Well, it’s about ensuring you get the healthcare you really want. Plus, it’s a way to save your family from the stress of making tough choices without knowing what you’d want.
What’s a Living Will?
Alright, let’s clear this up. A living will? It’s not your typical will or trust, even though they all fit into planning what happens to your stuff and your health.
So, what’s what:
- Living Will: This one’s all about your medical preferences if you can’t decide for yourself in an emergency. It’s like giving directions on whether you’d want life support, CPR, or other treatments if things get serious.
- Last Will: Now, this is where you decide who gets what when you’re not around anymore. It’s all about divvying up your money and stuff.
- Living Trust: Think of this as another way to pass on your property, but it’s like a shortcut—avoids the lengthy probate process.
Why bother with a living will? Well, imagine not being able to speak up when tough medical choices have to be made.
Scary, right? Having this plan in place ensures your preferences are heard loud and clear when you can’t express them.
Alright, let’s break down how to make a living will (or advance healthcare directive), step by step.
1️⃣ Decide Your Medical Preferences in Emergencies
When things get tough medically, it’s a maze of decisions. Some treatments can extend life, but it’s a balance between quality and quantity. Now, it’s your turn to think: what medical care would you be okay with in an emergency?
Here’s a checklist folks usually consider:
- Ventilators
- Feeding tubes or assisted feeding
- Hydration methods
- Organ donation preferences
- Hospice care
- CPR
- Devices like pacemakers or Implantable Cardioverter-Defibrillators (ICDs)
- Surgical procedures
It’s a big deal, so take your time. Would you want life support? Or maybe not? Think about it, even the tough stuff like turning off devices if you’re near the end.
2️⃣ Choose Your Healthcare Proxy
Alright, now that you’ve jotted down your wishes, it’s time to name your wingman in the healthcare world. This person, your healthcare proxy, is your go-to. They’ll make sure your preferences are followed, especially for decisions you haven’t specified in advance.
Who should it be? Think close, someone you trust big time. They should put your wishes first, not their own ideas about prolonging life or fulfilling their needs.
👉 Discover More:
- This Is the Difference Between Hard and Soft Money
- So, Money Does Buy Happiness (Here’s How)
- 33 Jobs AI Can’t Do (And How Much Money You Can Make)
3️⃣ Draft Those Papers
Okay, now onto the paperwork. You’ve got your ideas in place, and it’s time to put them down officially. This involves creating your living will and possibly giving someone the power of attorney for healthcare or naming them as your healthcare proxy.
You can find forms online or even snag some from your healthcare providers. But hey, a word of caution—this isn’t just any document. It’s about what happens when things get serious. Mess-ups here could have a big impact on your medical care down the road.
That’s why getting legal help might be a smart move. An estate planning attorney knows the ins and outs.
They’ll help create a rock-solid living will that covers all your bases, making sure your desires are crystal clear. It’s a safety net for those moments when you can’t give the thumbs up or down on medical treatments.
4️⃣ Seal the Deal with Witnesses
Alright, you’ve got your document all set. Now comes the official part—signing it with witnesses around. State laws might dance a bit on the specifics, but the idea? Make sure you’re signing it on your own turf and with a clear mind. No need for a notary here usually, but witnesses? Yup, they’re key.
And hey, speaking of state specifics, chatting with an estate planning attorney can be a game-changer. They’re the pros in deciphering what your state demands. Trust me, it’s a smart move that can save you and your loved ones a boatload of trouble down the road.
5️⃣ Share the Form with the Right Folks
Next up, sharing the love. Your healthcare proxy needs a copy of that living will—think of it as their guidebook if tough times hit.
And don’t forget your medical squad. They should have it too, just in case of emergencies. Quick decisions need clear directions, right?
FAQ
Can I Write My Own Living Will?
Absolutely, you can DIY your living will if that’s your thing. There are tons of templates online to help you craft one. But hold on, before you go solo, think twice. This document is pretty crucial—it’s about getting the right medical care when you can’t speak up.
Messing it up might mean your wishes aren’t followed when it matters most. An estate planning attorney can be your guide, making sure your document reflects your true wishes and is legally sound.
What Are the Ups and Downs of a Living Will?
Okay, good news first. A living will takes the guesswork out for your family during an emergency. No tough calls, no debates about pulling the plug. It’s also your way of making sure you get the care you want, without being subjected to treatments you’d rather pass on.
Now, for the not-so-great part. Facing emergency medical decisions isn’t a picnic, but having a plan beats leaving your loved ones in the dark, right? Plus, a living will might not cover every possible medical twist, but it’s better to have a map than to be lost in the woods.
👉 Discover More:
- An Open Letter to My Future Son & Daughter: Step 2
- An Open Letter to My Future Son & Daughter: Step 1
- An Open Letter to My Future Son & Daughter: Intro
How Do I Even Make a Living Will?
To get started, think hard about what medical treatments you’d be cool with or want to skip during an emergency. Once you’ve got that sorted, pick your healthcare proxy—this person’s your backup for decisions not mentioned in your living will.
Then comes the paperwork. You can find forms online or through your healthcare provider. But hey, follow your state’s rules—witnesses might need to sign off for it to be official.
More from thoughts.money
- The Science of Success: 17 Proven Steps to Achieve Any Goal
- 8 Proven Money Lessons From “The FALCON Method”
- A Must-Know Lesson From “The First Rule of Mastery”
- 5 Early Retirement Tips From “Playing with FIRE”
- 7 Life Lessons From “Die with Zero”
- 4 Money Lessons From “Tax-Free Wealth”
- 5 Practical Tips From “The Value of Debt in Building Wealth”
- 8 Emotional Intelligence Lessons From “The Power of Nunchi”
- 6 Down-to-Earth Lessons From “How I Invest My Money”
- 8 Life Lessons From “The Geometry of Wealth”
- 8 Money Lessons From “The Laws of Wealth”
- 11 Stress-Free Lessons From “Why Zebras Don’t Get Ulcers”
- 8 Health Tips From “The Stress Code”
- 8 Psychology Lessons From “The Behavioral Investor”
- 7 Life Secrets From “The Happiness Equation”
- 11 Humankind Lessons From “Sapiens”
- 7 Health Lessons From “The Upside of Stress”
- 9 Smart Lessons From “Emotional Intelligence”
- 10 Controversial Truths From “The Hour Between Dog and Wolf”
- 10 Powerful Sales Lessons From “The 3-Minute Rule”
- 7 Strategies for Wealth and Happiness by Jim Rohn
- 9 Lessons to Apply Today From “The Daily Laws”
- 7 Must-Know Truths From “What I Learned Losing a Million Dollars”
- 4 Never-Before-Published Lessons From “Pathways to Peace of Mind”
- 4 Long-Lost Lessons From “Outwitting the Devil”
- 8 Untold Secrets From “Napoleon Hill’s Golden Rules”
- 12 Hidden Secrets From “The 48 Laws of Power”
- 8 Practical Lessons From “The New Trading for a Living”
- Financial Wisdom From “Charlie Munger”
- Power Lessons From “13 Things Mentally Strong People Don’t Do”
- 4 Investing Lessons From “Trade Like a Stock Market Wizard”
- 7 Investing Lessons From “How to Make Money in Stocks”
- 12 Timeless Lessons From “The Daily Stoic”
- 6 Simple Lessons From “The Little Book of Common Sense Investing”
- 7 Super Ideas From “One Small Step Can Change Your Life”
- 8 Killer Lessons From “The Millionaire Real Estate Agent”
- 7 Counter-Intuitive Life Lessons From “Lives of the Stoics”
- 5 Important Life Lessons From “Million Dollar Habits”
- 6 School Lessons From “Why A Students Work for C Students”
- 9 Financial Freedom Lessons From “Rich Dad’s Cashflow Quadrant”
- 6 Wealth Lessons From “Millionaire Success Habits”
- 7 Unspoken Truths From Rich Dad’s “Retire Young Retire Rich”
- 9 Must-Know Lessons From “The Intelligent Investor”
- 14 Life Lessons From “The Snowball”
- 5 Investing Lessons From “Warren Buffett’s Ground Rules”
- 8 Money Secrets From “The Richest Man in Babylon”
- 10 Powerful Lessons From “Think and Grow Rich”
- These Are the Top 9 Lessons From “Rich Dad, Poor Dad”
- These Are the Top 5 Lessons From “How Highly Effective People Speak”
- These Are the Top 3 Lessons from “Burn the Boats”
- These Are the Top 3 Lessons from “The Power of Now”
- These Are the Top 3 Lessons from “The Psychology of Selling”
- These Are the Top 3 Lessons from “Mind Over Money”
- These Are the Top 3 Lessons From “The War Of Art”
- These Are the Top 3 Lessons from “The Dip”
- These Are the Top 3 Lessons from “Ikigai”
- These Are the Top 3 Lessons from “The 10X Rule”
- These Are the Top 3 Lessons from “The Subtle Art of Not Giving a Fuck”
- These Are the Top 3 Lessons from the “Man’s Search For Meaning”
- Should You Start a Dropshipping Business? (If Yes, How?)
- Should You Buy an REO (Real-Estate Owned) Property?
- This Is What Pet Insurance Covers
- This Is How Much Cash You Should Keep in the Bank
- This Is How to Make a Living Will (In 5 Simple Steps)
- These Are the Top 7 Dividend ETFs
- These Are the Top 10 ETFs (U.S. & International)
- These Are the Top 7 Money Market Accounts
- These Are the Top 9 Budget-Friendly Cities for Christmas
- This Is How FDIC, NCUA, and SIPC Protect Your Money
- Should You Use an Oven or Air Fryer?
- Should You Use a Dishwasher or Hand Wash?
- This Is the Difference Between a Salary and Hourly Pay
- This Is the Definition of a Christmas Club Account
- This Is How to Open an IRA (In 5 Simple Steps)
- If You Rent, It’s OK (Here Are 10 Reasons Why)
- Is There a Best Time to Buy or Sell Stocks? (Let’s See)
- This Is What the Value Line Composite Index Tells Investors
- This Is the Difference Between Technical and Fundamental Analysis
- This Is What Alpha and Beta Means in Investing
- This Is What Banking Desert Means
- So, You Want to Invest in Stocks (Here Are 5 Simple Steps)
- Do You Really Need Life Insurance? (Probably Yes)
- These Are the 6 Worst Student Loan Mistakes You Can Make
- Should You Apply for a Private or a Federal College Loan?
- Here’s the Difference Between Fixed and Adjustable Rate Mortgages
- This Is How Much the American Dream Costs Now
- This Is How to Become a Millionaire in 6 Simple Steps
- This Is What Famous Billionaires Did As Their First Job
- Here Are the 9 Most Common Motorcycle Types
- This Is the Difference Between Hard and Soft Money
- This Is How to Exercise Your Stock Warrants
- After Thanksgiving Comes Cyber Monday (What’s the Story?)
- So Long Mr. Munger: A Life Well Spent
- So, You Wanna Buy a Busa? (Here’s All You Need to Know)
- Capitalism Makes the World Go Round? (Let’s Find Out)
- Interested in Bitcoin Mining? (Here’s How It Works)
- The World’s Largest Companies (By Revenue)
- The World’s Most Profitable Companies (By Net Income)
- This Is How Much Jay-Z Is Worth
- Millennial Women Prefer Real Estate than Stocks (Survey Says)
🔥 Daily Inspiration 🔥
If you are going to be in business, you must learn about money: how it works, how it flows, and how to put it to work for you.
― Idowu Koyenikan