What Is a Living Will and Why Does It Matter?
When we think about retirement planning, most of us focus on finances—income, savings, and investments. But preparing for retirement is about more than money. It's also about making sure your wishes are honored in the moments that matter most. That’s where a living will comes in.
A living will—sometimes called an advance healthcare directive—is a legal document that outlines your preferences for medical care if you’re unable to speak for yourself. It answers questions no one wants to think about—but should: What kind of life-saving measures do you want? Would you want to be kept alive on a ventilator? Do you want CPR performed if your heart stops?
These are difficult topics, but making decisions now protects your loved ones from having to guess later.
The Role of a Living Will in Retirement Planning
A living will is part of a broader plan called advance care planning. It goes hand-in-hand with other legal documents like a healthcare power of attorney or a healthcare proxy, which designates someone to make medical decisions on your behalf.
Having a living will in place gives your loved ones clarity and peace of mind. If a serious illness or accident leaves you unable to communicate, your medical team will follow the instructions you’ve laid out—removing the burden of decision-making from your family during a crisis.
For retirees, this is especially important. As we age, the risk of unexpected health events increases. Having your wishes documented helps ensure your care reflects your values.
What Should You Include in a Living Will?
A living will generally addresses situations involving end-of-life care or permanent unconsciousness. You can specify your preferences for:
Resuscitation (CPR)
Mechanical ventilation
Tube feeding or hydration
Pain management and palliative care
Organ or tissue donation
You don’t have to go into excessive detail, but you should be clear about what types of care you do or do not want.
This isn’t just about what to refuse—it’s also about affirming your right to comfort and dignity. Many people choose to include instructions for receiving pain relief, spiritual support, or hospice care if their condition is terminal.
Why It Matters to Your Family
One of the greatest gifts you can give your family is a clear plan.
Imagine a spouse or adult child being asked to make a life-or-death decision in an emergency—without knowing what you would have wanted. That burden can be overwhelming and may even lead to family conflict or guilt.
When you’ve already made the hard decisions and documented them, your loved ones can focus on supporting you rather than guessing or arguing over care.
Updating Your Living Will
Just like other parts of your retirement plan, your living will should be reviewed and updated regularly. Life circumstances change—your health status, family relationships, or personal values might shift over time.
It’s a good idea to review your documents:
After major life events (like a diagnosis, surgery, or death in the family)
Every 3–5 years
Whenever you update other estate planning documents
Make sure your healthcare providers, chosen decision-makers, and loved ones have copies of your most recent version.
You’ve worked hard to plan for your future—don’t leave healthcare decisions to chance. Talk with a retirement planner at Sound Retirement Solutions today about how a living will fits into your overall retirement and estate plan. We’ll help you take care of the legal details, so your wishes are clear and your family is protected.
