Financial Planner

Category - Estate Planning

Jeff is taking a test to become a financial planner. The test wants to know what a living will is also known as:
  1. Trusts
  2. Medical life-support directive
  3. Grantor
  4. General Powers
Explanation
Answer: B - Living wills are also known as medical life-support directives. An advanced medical directive establishes a medical situation in which the testator no longer wants life-sustaining treatment. It does not designate an agent to make medical decisional. In some states, it may be appropriate to execute both a living will and durable power of attorney for health care to cover all areas. This is due to the fact that no living will, no matter how detailed, can cover all possible medical outcomes and usually apply to terminal patients.
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