Before we delve into the specifics of creating a living will in Indiana, it's important to understand what a living will is. A living will, also known as an advance healthcare directive, is a legal document that outlines your preferences for medical care if you are unable to make decisions for yourself. It's imperative to note that a living will is different from a last will and testament, which deals with the distribution of your assets after your death. Additionally, a living will should not be confused with a living trust, a tool for managing your assets during your lifetime and after your death.
Living Will vs Power of Attorney
A living will and a Power of Attorney (POA) are two separate but equally important components of a comprehensive estate plan. A living will focuses specifically on healthcare decisions, dictating what kind of medical treatment you want or don't want if you're unable to express your wishes.
A POA, on the other hand, allows you to appoint a trusted person (known as an agent) to make decisions on your behalf. This can include financial decisions, healthcare decisions, or both, depending on the type of POA you establish. It's essential to have both a living will and a POA as they complement each other and ensure your wishes are honored across different situations.
Examples of a Living Will
A living will can encompass a wide range of healthcare decisions. For example, you might 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 wish to receive or not receive pain medication.
- Do Not Resuscitate (DNR) orders: You can outline your preference regarding whether or not to be resuscitated if your heart or breathing stops.
- Organ and tissue donations: You can express your wish to donate your organs and tissues after death.
A living will becomes a 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 Indiana 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 the cost of hiring an attorney.
When Does a Living Will Go Into Effect?
A living will goes into effect when you are unable to make your own healthcare decisions. This generally occurs when you are incapacitated due to an 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 you can 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 the legal requirements in Indiana.
However, hiring an attorney comes 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 Indiana's legal requirements.
Notarizing Living Wills
In Indiana, your living will must be notarized to be legally valid. The notary public verifies your identity and ensures that you are signing the document willingly and without coercion. Notary fees in Indiana are set by the state and can range from $5 to $10 per signature.
Witnessing a Living Will
Along with notarization, Indiana 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 vital 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.