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Two Key Estate-Planning Documents You Need


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[Question]What's the difference between a health care proxy and a living will? Should I get both?

[Answer]A health care proxy (also known as a health care power of attorney) lets you designate someone to make medical decisions on your behalf if you can't do so yourself. A living will lets you state your wishes for end-of-life care. It's a good idea to have both documents.

The specific rules for these documents vary by state. Virginia, for example, combines a health care power of attorney and a living will in one document, called an advance directive for health care, which must be signed in front of two witnesses. For more information about the rules, including variations by state, see the American Bar Association's Giving Someone Power of Attorney for Your Health Care guide .

SEE ALSO: 6 Estate-Planning Mistakes Celebrities Made

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Personal Finance , Retirement



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