The Stats on Living Wills

A living will is a document that stipulates a person’s medical wishes, should they find themselves in a position that strips them of the ability to make sound decisions for them. A living will Arizona should not be confused with a living trust, which is a financial account that allows for the bypassing of the probate process when someone passes away. When it comes to a living will Arizona, there are few interesting statistics of which you should be aware:

Roughly 55 percent of Americans do not have a traditional will in place, which means their assets are left in limbo once they pass away. This number has remained fairly consistent since the state of the millennium, even as advanced planning has come to the forefront in the mainstream consciousness. When it comes to the minority demographic, an even higher percentage of individuals do not have a will of any kind. Sixty-eight percent of African Americans and 74 percent of Hispanics do not have a will or living will Arizona, on average.
Those that do have a living will tend to be older. In fact, during the ‘90s, 90 percent of the population that created a will document were over the age of 60.
Living wills tend to be a different animal all together. The number of people with a living will Arizona increased between 2004 and 2007, going from just 31 percent of the population with this document in place to 41 percent. More than that, 38 percent of adults have at least a power of attorney when it comes to healthcare decisions, which means they realize there may come a time when they can no longer make healthcare decisions for themselves.

Long term planning is imperative to ensure that you and your loved ones know what you have in mind for end of life decisions. When you are unable to make decisions for yourself when it comes to your healthcare, it is best to know what you expect and who you expect to help you with this process.

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If you are not sure as to what legal document you currently have contact one of our professionals to help you with your estate planning. They will make sure you have all of your grounds covered and have the right legal documents that best suite your wants and needs.