Most people don’t think about writing a testament until they reach old age. However, you should know that there are many benefits for your family and close friends in case of some unexpected occasions. That is especially important if you want to specify how you want your property to be distributed. Also, the legal process of inheritance can last for a long time, especially if there are some disagreements between your relatives. Therefore, you can help them to avoid that sort of issue as well.
On the other side, you should know that people who are not your relatives like close friends or a partner won’t be able to become inheritors without adding them to the Will. Furthermore, you can even ensure your medical care in older age or in case of some serious health issues by determining the people who will take care of you in order to become legal inheritors. The best way is to choose options like advanced Will andv more detailed lasting power of attorney, and you should read more about them. In this article, we are going to introduce you to the main features of these two options related to the testament.
What is a Living Will?
The first thing that you should know about the advanced decision is that it has nothing to do with the standard testament. In this document, you can determine the person who will be responsible for your treatment. On the other hand, the main reason for this option is in case of some serious health conditions like dementia, cancer, or if you are in a coma attached to life-support machines. You can add some instructions in this form of a Will related to these conditions.
For instance, you can order the medical institution to turn off the machines if your condition cannot be improved/ However, it must comply with legal requirements, which means that you must specify which types of treatment you want to refuse. Also, in case that there is a way for doctors to save your life, they won’t be able to avoid that rule even if your wish is related to religion or any other reasons.
Lasting Power of Attorney
This form is a much better option since the attorney can determine the person who will become responsible for your medical care. That person can be in full command of every aspect related to your current state. The main advantage of this form is related to people with mental issues who are not able to make proper decisions. Therefore, that person can choose your nutrition plan, medical institutions, types of treatments, and more. Also, the attorney can choose to leave you on life-sustain apparatus or not, while the Living Will is more complicated in that process. Moreover, the person who is responsible for your treatment will also have to deal with your bills, banking accounts, investments, businesses, and more. For example, if you own a company, this person will be in charge.
It is especially beneficial to deal with these forms on time if there are some indications of developing dementia or any other serious health and mental issues. You can help your family and friends to find the best way to assist you when you are no longer able to make clear decisions. Also, you can add certain instructions related to medical institutions or the part where you want to avoid being attached to life-support machines for too long.
You Can Combine Lasting Power of Attorney and Living Will
The combination of these two forms represents an advanced set of instructions related to your health care. However, you should know that the Lasting Power of Attorney is more valid as an official document. Therefore, your attorney has the right to change some parts of the living Will according to this document. The main advantage of an attorney is that you can determine someone close to you deal with your instruction in time when you are no longer able to take care of yourself.
The Main Differences
While the Living Will is a less complicated process that is active immediately upon signing, the form that includes the attorney brings more details. However, this process takes a couple of months until it is legal. Moreover, the advanced decision is only related to the potential refusal of treatment, while the other option brings many other features which make it a much better solution. Also, the key difference is that you can make choose by yourself as part of advanced decision, while the other option provides the determined person to make decisions in your name. Another difference is related to the price, where a living will represent a free form, while you will need to pay around $100 to get the LPA document.
As you can see, there are some major differences between these two forms, and you should choose the right one according to your current or potential health condition. The issue related to an advanced decision is that you are still in charge, and there are various cases where doctors will have to refuse your will. For example, if there is a chance for saving your life, they won’t consent to your choice to refuse such treatment, and they will only consider that your mental state doesn’t allow you to make proper choices. On the other side, your instructions can be provided only by specifying someone who can deal with the process in your name.
While most people avoid dealing with these sorts of documents, you should know that it might save you from struggles in older age. For instance, in case that you get into some serious condition where you are no longer eligible to operate with your private business, it is a much better option to determine the people who can replace you on that function. Furthermore, you can include some details related to your religion and many other aspects. This document can also help your family to make some hard decisions, like the one where you need to be detached from a life-support machine.