Living wills, also known as advance directives, are extremely important documents to leave to your family.
They allow you to determine how you want medical care administered if you have a terminal illness or are in a comatose state.
You wouldn’t want your family members bickering about what to do with your financial assets. Imagine how much worse the situation would be if your life depended on it.
Advance directives enable you to avoid a situation like this. In this video, filmed at the Real Estate Investing Summit during the Titanium Mastermind in the Dominican Republilc, Stephen Michael Miller explains how they work.
AN ADVANCE DIRECTIVE IN ACTION
One of Stephen Michael Miller’s team members, Anthony, encountered a situation where an advance directive saved the day.
His mother had been battling sicknesses for many years. Not a year would go by when she was not in hospital for a few weeks on end. She knew that her days were numbered, so she put in place an advance directive.
The advance directive granted permission to her husband to turn off her life support if she were put onto it. If her husband were not available, the advance directive stated that her children would be next in line to turn off her life support, in order of age.
As it happened, both her husband and her eldest daughter were unavailable when she ended up on life support. It was Anthony who took her to hospital and was the one who had his mother’s permission to turn off her life support.
IMAGINE YOURSELF IN THIS SITUATION…
An advance directive can cover several different scenarios as well as life support. It can cover whether you want assistance with breathing, whether you want a feeding tube and so on.
Stephen Michael Miller knows that if something were to happen to his wife, he would not want to make decisions like that for her. If his wife did not have advance directives in place, he would have to.
You don’t want to leave decisions like this to your family members. Imagine the guilt, pressure and tearing up inside that it can cause. Advance directives allow them some comfort to know that your wishes are being followed.
The MOBE Platinum Mastermind is where the most experienced mentors in investing and asset protection share their investment methods with fellow members. To learn more about the Platinum Mastermind, click HERE.