Medical Wishes
Establishing your medical wishes is a very important part of your estate plan, regardless of age or net worth. This is done with the help of documents that provide directions made in advance of a medical event. These documents help to relieve some of the pressure put on your loved ones to make medical decisions on your behalf.
This is typically done with the help of two documents. One is the Living Will and the other is the Medical Power of Attorney. The names for these documents can vary state by state. Let’s discuss each one to help build your understanding.
If your health deteriorates or you are faced with end-of-life decisions, Advance Directives provide instructions for how you wish decisions to be made. For example, you may include medical treatments that you prefer, or some that you never want to be a part of your care. You may have specific instructions regarding a healthcare provider or a preferred hospital. You may even have a religious or spiritual value that you want honored during this time of need.
When reviewing our educational graphic, look at the box in the top right titled Advance Directives. You will see how it is closest to the words Medical and Wishes. This group of documents outlines your Medical Wishes. Next, we will cover how you empower a person to act on your behalf for medical decisions.
Medical Power of Attorney
A Medical Power of Attorney is a legal document designating a trusted person that you have chosen to communicate your healthcare wishes if you become incapacitated. Oftentimes this is a close family member or friend who is emotionally mature and available when the need arises. This person, upon reviewing your Advance Directive, can then help make decisions you have specifically outlined.
Let’s look once again at the educational graphic. Notice the box titled Medical Power of Attorney. You will see how it is closest to the words Medical and Authority. This is the document that grants a person the authority to act on your behalf.
To continue to build your understanding, proceed to the Unique Situations page below, or you can jump right into drafting your documents at any time.