If you have a will, you may think that is all you need to have a complete estate plan. In reality, many California residents benefit from additional estate planning tools that allow them to have more control over certain conditions, such as how assets are used after their death or health care planning.
One of the most beneficial tools you can add to your estate plan is a living will. This does not plan for the distribution of your assets, but it allows you to plan for your health care in the event that you are unable to care for yourself in the future. This document allows you to decide what types of medical care you wish to receive and spells out your decisions regarding end-of-life or emergency care.
Including the right details in your living will
A living will does not just spell out what kind of care you do not want to receive, but it allows you to detail specific kinds of care you may wish to receive in case of incapacitation in the future. You can cover the following issues in your living will:
- Means to give you a certain quality of life
- Life support
- Extreme measures to prolong your life
A living will allows you to be very specific regarding your wishes and objectives. Many people find it uncomfortable to think about these issues, but having a living will can prevent your loved ones from making difficult decisions on your behalf.
This specific type of estate planning tool works well in conjunction with health care powers of attorney. In combination, both of these documents can give you a certain degree of peace of mind for the future. While you cannot predict what will happen months or years in the future, you can decide what will happen to your body in the event of a serious medical event.
Don't delay in planning for the future
Many people put off planning for the future because they are young or are in good health. It is beneficial to have certain plans in place long before you need them. No two estate plans are the same, but you could benefit from an evaluation of your case in order to understand which tools can benefit you.
When it comes to your health care and sparing your loved ones from difficult decisions in the future, you have no time to lose. Putting strong plans for your future in place can start today.