Definition of "Living well"

Diana Montero real estate agent

Written by

Diana Monteroelite badge icon

Keller Williams Capital Properties

Legal document that permits the individual to declare his or her desires concerning the use of life-sustaining treatment to be made at the point in time when death is imminent and the individual no longer has control of his or her faculties. This type of will has the advantages of ensuring that the individual's wishes are followed to the conclusion and that a family member does not have the burden of making extremely agonizing decisions on behalf of the individual. It is the requirement of most state statutes that such a will be signed, dated, and witnessed (excluding anyone who has an interest in the estate of the individual affirming the will). Also required by most state statutes is that the will include both a statement of capacity and a statement of intent by the individual. The following states have statutes addressing the living will issue: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming, as well as Washington, D.C.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Type of guaranteed investment contract in which the interest rate credited is tied to an external index such as the United States Treasury Bond Index. ...

Instrument that uses noncombustible substances such as carbon dioxide to deprive a fire of oxygen, thereby extinguishing it. ...

Insured losses that have occurred but have not been reported to a primary insurance company. These types of claims have a tremendous effect on a reinsurance treaty, which may be showing a ...

Organization of over 300 property and casualty insurance companies whose mission is to investigate fraudulent claims and bring to justice those making such claims. ...

one in which the amount and frequency of payment may fluctuate. ...

Stated fixed payment for maternity costs regardless of the actual costs. ...

Type of health maintenance organization (HMO) that issues contracts to independent physicians. These physicians are paid a per visit fee for seeing an HMO member or are paid an annual fixed ...

Same as term Floater: coverage for property which moves from location to location either on a scheduled or unscheduled basis. If the floater covers scheduled property, coverage is listed ...

Actions not allowed between a trust and a disqualified person under the employee retirement income security act of 1974 (erisa). The disallowed actions are designed to prevent a conflict of ...

Popular Insurance Questions