Healthcare Proxy

Living Will

A legal document that specifies your wishes regarding medical treatment and life-sustaining measures if you become terminally ill or permanently incapacitated and cannot communicate your decisions. Unlike a last will and testament, a living will takes effect while you are still alive and addresses healthcare decisions rather than asset distribution. It typically covers preferences about resuscitation, ventilators, feeding tubes, and pain management.

Advance Directive

A broad term for legal documents that allow you to express your healthcare preferences and appoint someone to make medical decisions on your behalf in case you become unable to do so. Advance directives typically include a living will and a healthcare proxy, though specific requirements and terminology vary by state. Having advance directives in place ensures that your medical care aligns with your values and reduces the burden on family members during difficult times.

Power of Attorney

A legal document that grants another person, called an agent or attorney-in-fact, the authority to make decisions and act on your behalf in financial, legal, or healthcare matters. A power of attorney can be limited to specific transactions or broadly cover all financial affairs, and it can take effect immediately or only upon your incapacitation. Having a power of attorney in place ensures that someone you trust can manage your affairs if you become unable to do so yourself.

Guardianship

A legal arrangement in which a court appoints a person to make personal, financial, or healthcare decisions for someone who is unable to care for themselves, such as a minor child or an incapacitated adult. In estate planning, parents typically name a preferred guardian for their minor children in their will. Without a designated guardian, a court will decide who will care for your children, which may not reflect your wishes.