A living will is not about who inherits your stocks and bonds when you die and it doesn't designate who gets the family home or your mother's jewelry. What a living will does is establish your wishes about what happens to you should you become terminally ill or permanently incapacitated. A living will is a binding set of advanced medical directives that dictates whether you will be kept alive via life support devices, or whether and when to pull the plug on those devices.
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