What Is a Living Will and What to Know About Writing One | Family Finance

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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

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Many of us look around and wonder how we ended up with so much stuff. Sometimes I wonder why I spend the money on things that don’t get used much. There is a lot to be said for a little more simplicity, as many people are discovering in this recession.

It is possible to spend less money, and still live a full life. And, of course, just because you can afford something doesn’t mean you have to buy it. If you are ready to downsize your lifestyle, you can do so, with a little thoughtful planning.
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creating wealth

I once wondered whether an investment property or a dividend yielding stock is better. The result was an unanimous vote for investing in stocks.

Since then, boy has the environment drastically changed. The financial crisis unfolded with a 50%+ decline in stocks, followed by stocks multiplying during the next

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