It has been estimated that only half of Americans have a will or financial directive specifying how their assets will be distributed after their deaths. This means that frequently, family members are left to scramble and decide who gets what, which can cause endless grief and battles that sometimes cause irreparable damage.
An even smaller percentage of Americans, an estimated 35%, have a living will 0 the health care equivalent of the financial document. A Living will forms specifies medical care and treatment options should one become terminally ill, incapacitated and/or unable to make decisions regarding care. Not only does it dictate medical care, but also who will make the determination of care should these conditions occur.
This is a critical, but often overlooked, part of proper retirement planning. These factors are important to consider as we look toward the end of life and while mental faculties are in order.
No one wants to think about the dying process and death. Some fear even discussing the inevitable. But being armed with a proper will, living will, funeral plans, etc. can give peace of mind to even the most fearful. The Terry Shiavo case provides a cautionary tale. Shiavo was kept alive in a […]

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