New York Estate Planning & Elder Law Blog
Creating a living will is one of the areas of the estate planning that many people overlook. These documents, which are also sometimes referred to as advance health care directives, describe what types of life-prolonging measure an individual would like if they are placed on life support.
Among other reasons why these documents are overlooked is that making decisions about these issues can be emotionally difficult for people. If you have decided to finally take the valuable step of creating a living will, it is a wise idea to ask yourself some critical questions.
The Worth of Creating a Living Wills
The exact value that you will find in a living will depends on how an individual feels about the treatment they might receive if they are alive but incapacitated.
If an individual feels strongly about life-prolonging measures, then living wills can serve an invaluable role in an estate plan. If you are less concerned about the type of care that you receive, living wills are likely to play a less valuable role in your estate plan.
The Costs Associated with Creating a Living Will
In an effort to save a little money in estate planning, some people decide to create living wills based on documents that are found online.
One of the disadvantages to creating documents in this manner is that if they end up not valid or a situation occurs that a person has not addressed, a person will never know that a living will failed to work as planned.
By retaining the assistance of an experienced estate planning lawyer, however, you can greatly increase the odds that a living will end up working as you intend.
The Scope of Living Wills
Living wills in addition to addressing the type of care that a person would like to receive also common include a person’s wishes on a number of other objects.
For example, many people use living wills to reflect their wishes on organ or tissue donation. It is also common for a person to describe what types of measures that they would like to receive in case they go into cardiac arrest.
Some people also include details about the type of medicine they would like to receive to end their life if their condition is serious enough.
Where to Place a Living Will
One of the best ways to cancel out the value of a living will is to make it impossible for your loved ones to determine where the estate planning document is located.
As a result, you should make sure that your loved ones know where to find the living. You should also make sure that your doctor’s office has a copy of the document.
Speak with a Knowledgeable Estate Planning Lawyer
The estate planning process involves a number of parts. To make sure that you have the best estate plan possible, it is a wise idea to speak with a knowledgeable estate planning attorney. Contact Ettinger Estate Planning today to schedule a free consultation.