A living will, sometimes called an advance healthcare directive, is a legal document in which a person states their preferences for medical treatment in situations where they are unable to communicate, particularly regarding life sustaining measures such as resuscitation, artificial ventilation, tube feeding, and pain management. It guides physicians and loved ones in making decisions consistent with the individual's wishes and is often paired with a healthcare power of attorney that designates someone to make decisions when the person is incapacitated. While not directly financial, living wills are part of comprehensive planning because they influence end of life care, costs, and family dynamics.

In practice, advisors encounter living wills during holistic planning conversations that address wills, trusts, beneficiary designations, and long term care. They encourage clients to work with attorneys and medical professionals to create clear directives and to share them with family members and healthcare agents. When discussing life insurance and long term care, advisors note that having a living will can reduce confusion and conflict about aggressive interventions that may extend life without quality, potentially affecting how and when insurance and other assets are used. Clients are often relieved to formalize their wishes, knowing they are reducing burden on loved ones. Advisors may maintain copies of living will documentation in their planning records, with permission, to ensure all parties know these directives exist. By including living wills in their discussions, producers reinforce that financial protection and personal healthcare preferences are intertwined elements of a thoughtful, client centered plan.