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Terri Schiavo was 26 when
cardiac failure that subsequently led to massive brain
damage left her in a coma-like state, unable to speak. Now
13 years later, family members, physicians, lawyers and
judges are battling in court over her fate. The source of
the debate? Terri did not have a living will, so when she
became ill, the decisions about her care were left to
others.
Terri’s story has brought to
light the importance of preparing a living will for the
predictable and the unpredictable. According to a recent
survey from the National Council on Aging, 74% of people
polled believe that creating a living will is very
important. In fact, it ranked equally with building up
savings for retirement as the most important factor in
preparing for later life. However, a survey from
www.findlaw.com shows only 36% of Americans have
actually created a living will.
Put It in Writing
A living will is a document
that tells doctors, hospitals and family how to treat a
person in the event that they become terminally ill or
injured. Online resources will assist in writing a living
will with relatively little cost or an attorney or other
advisor will assist in drafting a living will. Following are
points to consider when drafting a living will:
Use Resources
Through
www.agingwithdignity.org, a non profit
organization, the Five Wishes Living Will can be downloaded
and is accepted in 35 of the 50 states. A free copy of a
prospective will is available at
www.partnershipforcaring.org. The American
Association of Retired Persons (www.aarp.org)
also offers many resources about living wills and estate
planning.
State Laws
It is important to research
state laws when drafting a living will. For example, some
states require the will to be signed by two witnesses,
certified by a notary public and contain specific language.
Be Clear
It is important to be clear,
consistent and specific. Issues such as extraordinary
life-saving measures, pain medication, artificial
respiration, heart pumps, dialysis, artificial nutrition,
and hydration are necessary to include.
Choose an Advocate
It is important to identify
the person to execute your wishes on your behalf. In some
cases, a second and third person may be needed in case the
first choice is not available or emotionally able to make
decisions.
Share Your Wishes
Once the living will is
drafted, a copy should be given to family, doctors, health
agent and witnesses. By law, safe-deposit boxes are frozen
when a person dies and require a court order to be opened.
It also is important to update a living will once a year and
make any necessary changes.
Seek Help
Creating a living will is just
one part of the estate planning process. A qualified
financial advisor can help create a comprehensive plan and
best prepare for the future. |
