Understanding legal terminologies can be the first step towards effective estate planning. A living will, also known as an advance healthcare directive, is a legal document that details your wishes regarding medical treatment if you become unable to make decisions for yourself. It's crucial to differentiate a living will from a last will and testament, which pertains to the distribution of your assets after your demise. Additionally, a living will should not be confused with a living trust, a mechanism for managing your assets during your lifetime and after your death.
Living Will vs Power of Attorney
Although both are integral components of a comprehensive estate plan, a living will and a Power of Attorney (POA) perform different roles. A living will is specific to healthcare decisions, outlining what type of medical treatment you would prefer or not prefer if you become unable to express your wishes.
Conversely, a POA allows you to appoint a trusted person (referred to as an agent) to make decisions on your behalf. These decisions can pertain to finances, healthcare, or both, depending on the type of POA you establish. It's crucial to have both a living will and a POA as they complement each other, ensuring your wishes are respected across various situations.
Examples of a Living Will
A living will can encompass a broad range of healthcare decisions. For instance, you may include instructions on:
- Life-prolonging treatments: You can state whether you want treatments that don't cure you but can keep you alive longer, such as ventilators or feeding tubes.
- Pain management: You can specify whether you want to receive or not receive pain medication.
- Do Not Resuscitate (DNR) orders: You can express your preference about whether or not you wish to be resuscitated if your heart or breathing stops.
- Organ and tissue donations: You can state your wish to donate your organs and tissues after death.
A living will forms an essential part of your overall estate plan, providing guidance to your family and healthcare providers about your medical treatment preferences.
Cost of a Living Will
The cost of creating a living will in Idaho can vary depending on the method you choose. If you decide to hire an attorney, costs can range from $200 to $500, depending on the complexity of your situation and the attorney's rates.
However, there are more cost-effective options available. Online platforms like Snug offer an easy and affordable way to create a legally valid living will. With Snug, you can create a living will for a fraction of what it would cost to hire an attorney.
When Does a Living Will Go Into Effect?
A living will takes effect when you are unable to make your own healthcare decisions. This usually occurs when you are incapacitated due to illness or injury. While a living will outlines your treatment preferences, a Medical POA appoints a person to make healthcare decisions on your behalf. These two documents often work together in an estate plan.
Hiring an Attorney to Make a Living Will
While it's possible to create a living will on your own, hiring an attorney can be beneficial, particularly if your healthcare wishes are complex. An attorney can provide legal advice tailored to your situation and ensure the document meets all legal requirements in Idaho.
However, hiring an attorney does come with additional costs. If you are comfortable with creating a living will on your own and your healthcare wishes are straightforward, online solutions like Snug can provide a cost-effective alternative. Snug offers an easy-to-use platform to create a living will that meets Idaho's legal requirements.
Notarizing Living Wills
In Idaho, your living will must be notarized to be legally valid. The notary public verifies your identity and ensures you are signing the document willingly and without coercion. Notary fees in Idaho are set by the state and can range from $5 to $10 per signature.
Witnessing a Living Will
In addition to notarization, Idaho law requires two adult witnesses for a living will. These witnesses must be present when you sign the document. It's important to note that the witnesses cannot be related to you by blood or marriage, entitled to any part of your estate, or directly financially responsible for your healthcare.
Creating a living will is a significant step in protecting your healthcare wishes and providing guidance to your loved ones. Whether you choose to use an attorney or an online platform like Snug, it's essential to create this document as part of your comprehensive estate plan.
