Creating a living will is a task that’s often neglected on a financial to-do list — but it shouldn’t be.
One reason it’s neglected is that plenty of people don’t know what a living will is — or they know but understandably aren’t interested in thinking about end-of-life issues. According to a 2020 survey of 2,400 Americans from the caregiving website Caring.com, only 6% of people have a living will.
So if you’re wondering what a living will is — and whether you need one — we’ll try to get you up to speed.
[Read: How Living Longer Will Impact Your Retirement.]
What Is a Living Will?
A living will is a legal document, also known as an advance health care directive, that details how you want to be cared for if something unexpectedly impacts your health and you wind up on life support. A living will also forces