Finance

 LIVING WILL 

It is a lot easier to make your medical wishes known before you become sick or disabled by a stroke or other devastating sickness.

A living will, also called an "advance medical directive", is a legal document stating of your wishes concerning the kind of life-sustaining medical intervention you want or don't want in the event that you become terminally ill and are unable to communicate coherently. Do you want numerous resuscitations, intravenous feeding, to be kept "alive" on life support with no sign of life? 

Most states have living will statutes (laws / regulations) that define when a living will can go into effect (for example, when a person has less than six months to live). State law and the medical establishments can and do restrict the medical interventions to which the living will directives apply. The terms and conditions of your medical directive can and will be subject to interpretation by the hospital and doctors who may come to different conclusions about the outcome of your injury or situation, resulting in instances where a living will may not be followed. 

A doctor or hospital presented with a living will for a patient in their care will take their patients wishes very seriously - an advance medical directive is the best way to have a say in your medical care when you can't express yourself otherwise.

Choose your "health-care agent" carefully.
You increase your chances of having your directive enforced when you have a health-care agent advocating on your behalf. You can name an agent by way of a health-care proxy, or by assigning what's called a medical power of attorney. This is a legal document in which you name a friend or relative you trust to make medical decisions on your behalf in the event that you can't do so for yourself.

The health-care proxy applies to all instances when you're incapacitated, not just if you're terminally ill.

It is important to choose your health-care agent carefully. This person will have  to do three key things: understand important medical information regarding your treatment, handle the stress of making difficult and emotional decisions, and keep your best interests and wishes in mind when making those decisions.

Why should I assign power of attorney?
When you can't control your financial life, you want to make sure someone you trust will. No one is immune from accidents, aging or the loss of mental clarity that may come with it. More to the point you are never sure that tomorrow will not bring with it, a health issue that could leave you unable to handle everyday business of paying bills, managing investments and other financial decisions.

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