Planning for future healthcare decisions ensures people respect your wishes when you cannot communicate them. Two essential documents in this process are the living will and the power of attorney. While both play important roles, they serve different purposes.
What is a living will?
A living will, also known as an advance directive in Maryland, outlines your preferences for medical treatment if you face a terminal condition and cannot express your wishes.
This document specifies whether you want life-sustaining measures, such as resuscitation or feeding tubes, administered or withheld. By detailing your choices, a living will guides your loved ones and medical professionals during challenging times.
What is a power of attorney?
A power of attorney is a document that lets you choose someone you trust to make decisions for you if you can’t make them yourself.
There are different types of power of attorney. A medical power of attorney lets your chosen person make healthcare decisions for you when you are unable to. This includes making choices about treatments, doctors, and where you receive care.
A financial power of attorney allows your chosen person to manage your finances. Responsibilities include managing your bank accounts, paying your bills and handling your investments.
A power of attorney can be “durable,” meaning it continues to work even if you become unable to make decisions. It can also be “springing,” which means it only starts working if certain things happen that you specify.
Key differences between a living will and a POA
While both documents are integral to your estate plan, they differ in scope and function. A living will provides specific instructions about your medical care preferences. In contrast, a medical power of attorney appoints someone to make health care decisions on your behalf in situations not explicitly covered in your living will.
A living will comes into play only when you are facing a terminal condition and cannot communicate. In contrast, a POA becomes effective under the conditions you specify, which may include any instance of incapacitation, not just terminal illness. A living will is limited to end-of-life medical decisions. A medical POA covers a broader range of healthcare decisions, and a financial POA addresses financial matters.
Why you might need both
Having both a living will and a power of attorney provides comprehensive coverage for future uncertainties. Talking to your legal representative about these and other valuable estate planning tools can help you build a plan that preserves your legacy and wishes.