Estate planning is an important endeavor for Iowa readers and residents, regardless of income and estate size. This process allows you to decide what will happen to your assets, money and all types of property after you pass away, but there is more you can do with your estate plan. In addition to a basic will, you may benefit from the protections provided by a living will.
More than just your financial security, a living will can allow you to express certain wishes you have about medical care you may need in the future. Through this and other related estate planning documents, your loved ones will clearly understand what kind of care you do or do not want in case you are unable to speak for yourself. Life is unpredictable, and having a living will can give you peace of mind.
What will your living will do?
There are specific things you can accomplish by drafting a living will. While you can use this document to outline the circumstances in which you would like doctors to withhold medical treatment, it can do more than that, such as:
- Ask for all of the treatment options that may be available to you
- Outline the specific medical options that you want while explaining which types of treatment you to do not want
- Communicate other specific medical wishes you may have
A living will is only for circumstances in which a person is unable to speak for himself or herself because of a medical condition or severe physical injury. Many people find it beneficial to also draft a health care power of attorney to act in conjunction with a living will. This document appoints an individual to make decisions on your behalf when you cannot express your wishes, but only in situations not covered specifically by the living will.
An estate plan that suits your needs
When it comes to your future interests and those of your loved ones, you do not want to take any chances. With a thorough and carefully drafted plan, you can have confidence regarding what may come in the future. Estate planning is a complex process, and there are many factors to consider when drafting yours.
It may be helpful for you to seek guidance as you draft a unique plan that specifically suits your needs and objectives for both your finances and property as well as your health and physical well-being.