Estate planning is far from being a pleasant topic to talk about – I admit this and totally get it. No one wants to even think, yet alone talk, about being incapacitated or terminally ill. Take some of my clients, for example. Every time I bring this topic up, I can see and sense how annoyed they become and want to switch the conversation. But we all need to understand that this is part of life, and in many ways, there are situations that are beyond our control. And that is exactly why we need to plan NOW for whatever unfortunate situations can be. Because if we don’t – the cost of inaction can be dangerously high.
When someone thinks of a living will, the very first association that comes to mind is that it’s the same thing as a last will and testament. Even though a living will is a type of a last will and testament, it has a completely opposite intended use.
In this post, you will learn about a living will and why you need to have one.