Are you ready to die?
Of course not.
But here's a death-and-dying question every living adult should answer: Do you know the difference between a will and living will?
Maybe not. So stop squirming and find out what you should know about preparing for death, either yours or a loved one's.
The Will
Procrastinators should know the consequences of not having a will: You lose control over who gets your assets. Wth no will, the state of Connecticut's Probate Court makes the decisions.
"I ask every single client I have, 'Do you have a will?'" says Michael Agranoff, an Ellington attorney who concentrates in Department of Children and Families cases. "The pitch is, at the very least, the will specifies who you want your minor children to be in the custody of. . . . A will not only disposes of your property but if you have a lot of money it can be a device to legally avoid taxes, too."
Cost: About $200 to $300 (consult any lawyer). Or get a will, living will and power of attorney for $500.
Living Will/Health Care Directive
Do not confuse a living will with a will. A living will is a legal document more accurately described as an advance health care directive that specifies any restrictions on medical care if you become terminally ill, incapacitated or unable to communicate.
If you'd rather avoid life-support systems, certain medical treatment or medication, you'll need a living will. A do-not-resuscitate order, as part of a living will, prevents efforts to revive a patient in cardiac arrest. You can also specify if you wish to donate your body or organs and even if you'd like to be cremated or buried.
A living will eliminates fears of medical malpractice by attending doctors and potential anguish by family members left to decide whether to continue life-support efforts.
"If you've ever seen a 95-year-old hooked up to $100,000 worth of medical equipment," says Agranoff, "you would know a living will is a good idea."
A lawyer can help with a living will as part of any will, but the state provides a basic form (available at 1.usa.gov/10CsKlr) that must be signed and dated, with two witnesses. Though notarization is not required, it's recommended.
Cost: $100-$200
Power of Attorney
Creating a power-of-attorney legal document authorizes someone else to make decisions for you. A POA does not have to be an actual attorney. More often, it's a spouse, child, relative or friend appointed to act if you become incapacitated because of illness.
"It's either for an elderly parent or someone whose financial affairs you have to manage," says Agranoff. "Sometimes it's temporary."
The power of attorney essentially works for you.
A durable power of attorney remains in effect even if you become legally incapacitated. Without a power of attorney, your family might have to seek conservatorship through Probate Court.
