DRAFTING LIVING WILLS

What Is A Living Will?

A living will is a legal document created by you that directs a third party to follow your personal end-of-life choices for medical treatment. Simply, your living will details the procedures and/or medications you want followed in the event a life saving decision must be made. A living will can determine whether you accept or decline life savings procedures such as induced coma, feeding tubes, or breathing apparatuses, in an accident or other incapacity. A living will is not the same as a medical power of attorney (e.g., when you designate your wife or some other person to make medical decisions on your behalf.) Other documents of importance when preparing for future health include the following:

• Powers of Attorney: A power of attorney can designate a relative or third party to make decisions for you in the event you cannot. 

• Legal Guardianship: A guardianship is a legal order adjudicated by a court when a person cannot care for themselves. 

Comparing Living Wills To Advance Directives

A living will is a single document directing your health care rights in the event of incapacity. Advance directives are often made of several personal life care documents including, but not limited to, the following: a living will, a DNR (Do Not Resuscitate) request, organ donation, instructions about a diagnosed illness, and medical power of attorney. At Wilson Legal Group, our Dallas living will lawyers utilize a team-based approach that benefits from having access to multiple attorneys with substantive years of experience in many practice areas. Whatever your estate or trust needs may be, our will attorneys have the talent, resources, and expertise to meet them in an efficient, timely, and cost-effective manner.

Comparing Living Wills To Medical Power of Attorney

A medical power of attorney (also known as a health care power of attorney or durable power of attorney for health care) is a legal document wherein you personally designate an agent, attorney-in-fact, or surrogate to make certain medical decisions on your behalf in the event of your incapacity. A medical power of attorney and a living will help guarantee that the medical treatment you want is rendered in the event you are incapable of making or communicating medical treatment decisions.  A "medical power of attorney" and a "living will" form a part of what is known as advanced directives.  Our Dallas estate lawyers can draft living wills, advanced directives and otherwise assist you in managing your estate.  

What Assets Are a Part Of A Person's Estate?

The Internal Revenue Service (IRS) has defined a person's estate as the fair market value of everything a person owns at the time of your death minus debts. The totality of a person's estate would include but is not limited to the following: bank accounts, stocks and bonds, real estate, business interests and property, personal property, and life insurance policies. Items like cars, jewelry, coin collections, and artwork would be considered personal property for the purposes of a last will and testament; however, the proceeds of life insurance would not be personal property as they can only pass through the beneficiary designated on the insurance policy.