What is a Living Will? A Living Will is a document describing your preferences for medical treatment if you are terminally ill or injured and are unable to communicate. For instance, you may not want doctors to use artificial breathing equipment or tube feeding to keep you alive while insisting on pain relief at all costs. Living Wills can also specify whether you would like to donate organs – to assist others to live, to use for research, or both. The benefits of Living Wills Living Wills provide serenity as they give us the opportunity to express our choice of medical care even when the ability to communicate by conventional means has left us. They also assist in preventing arguments among family members and medical professionals regarding suitable treatment. A hard truth (and undeniable benefit) of Living Wills is that they can also assist in containing the cost of dying. Although it’s a decision no-one would like to face, many people would prefer to pass away quickly and quietly rather than live for years on life-support which (quality of life considerations aside) can lead to enormous medical bills. In the absence of a Living Will it can be very tough for a family member to request the withdrawal of medical intervention based on affordability. But what about a Power of Attorney? Some people mistakenly believe that a general Power of Attorney will suffice when it comes to making medical decisions on your behalf. However a normal Power of Attorney is only of use when you are in sound mind and can communicate and give instructions to the person with authority to act on your behalf. For example, if you’re in hospital and unable to manage the sale of shares to pay your medical bills, you can instruct the person you’ve granted authority to go ahead and do so. A general Power of Attorney is thus no substitute for a Living Will, which only applies when you are unable to communicate. (A “Durable Power of Attorney for Healthcare” is closer to a Living Will and more likely to be valid.) Waiting for parliament to decide The existing National Health Act of 2003 affirms our right to refuse any treatment whatsoever, even if doing so will demonstrably shorten our lives. According to the Act, treatment against our will actually constitutes assault. Moreover, this Act specifies that certain relatives can make healthcare decisions on our behalf should we be unable to do so. Despite the spirit of the Act being in accordance with the concept of Living Wills, there are still some doctors who don’t adhere to Living Wills, as they fear negative legal repercussions. It is hoped that parliament and/or the courts will provide some clarity on this soon. Why do some doctors resist? Living Wills present some complexities, but they are certainly not insurmountable. One of the main problems comes if a doctor is not aware of the presence of a Living Will when a terminally ill person is admitted to hospital. Doctors are trained to save lives (they’re bound by the Hippocratic Oath) and may automatically treat someone and then face the very difficult decision of withdrawing the intervention. Some doctors believe that only God should determine the time and manner of our death, which means that they should always attempt to prolong life. From a legal standpoint, this fails to take account of other accepted ways in which we “interfere” with the length of life, for instance, using antibiotics and surgery. Another complexity relates to the symbolic value of food and water. You may refuse medical treatment but wish to receive artificial nutrition and hydration. A Living Will could take care of this preference. At the end of the day Life is finite and dignity is always our Constitutional right. We all need Living Wills as they assist families and doctors to make critical decisions about one of your most valuable assets – your body. This is why you should prepare your Living Will when you are healthy and most likely to make rational decisions. Whatever you decide, we’d strongly recommend discussing your choices with your family and your doctor(s). Living Wills are supposed to make their tough decisions easier, not more difficult. Please let us know if we can do anything to assist in this regard. You and your family are our number one priority.
Complete Your Financial Plan
Sign Up To Our Mailing List
September 4 - Market Update: Christmas in September if Rates Come Down as ExpectedSeptember 3 - Why You Should Keep Your Investment Strategy to YourselfSeptember 2 - Aligning Your “Wheel of Life” – A Beginner’s GuideSeptember 1 - The Big Question: Should You Buy a Home or Rent One?August 4 - Market Update: Magnificent Seven Lose Their Magnificence in JulyAugust 3 - Unsung Heroes of Insurance: Four Types That Could Save You MoneyAugust 2 - Do You Recognise Yourself in Any of These Client Case Studies?August 1 - Three Pot System 101: What You Need to Know Before 1 SeptemberJuly 4 - Market Update: Financial Markets Welcome GNU 2.0 and New CabinetJuly 3 - Busting the Post-Retirement JargonJuly 2 - Safeguard Your Money: Look out for Phishing ScamsJuly 1 - Why the Marshmallow Effect Could Derail Your Retirement PlansJune 4 - Why Emotions and Investing Don’t Always MixJune 3 - Demystifying Retirement Planning LingoJune 2 - The Sandwich Generation: How Can You Deal with Family Always Asking You for Money?June 1 - How the Elections May Impact Markets in the Months AheadMay 4 - Market Update: Geopolitical and Economic Risks are on the Rise and Investors are ConcernedMay 3 - Need to Know: Annualised Returns Versus Internal Rates of ReturnMay 2 - Investment Jargon 101: Your One-Stop PrimerMay 1 - Do You and Your Partner Share the Same Money Values?April 4 - Market Update : Will They, Won’t They? The Case for Lower Interest Rates Improved in March.April 3 - Unpacking Diversification: What Really Counts?April 2 - Zen and the Art of Financial PlanningApril 1 - The Secret to Solving the Financial Rubik’s Cube? Consistency.March 4 - Market Update: Initial Investor Vote of Confidence Dissipates in Wake of BudgetMarch 3 - The Most Important Part of a Financial Plan: Room for ErrorMarch 2 - Diversification: Free Lunch or Fool’s Gold?March 1 - Budget 2024: What it means for youFebruary 5 - Budget 2024: The Minister of Finance Wants to Hear from You!February 4 - Market Update: US and SA Markets Diverge on Differing Investor SentimentFebruary 3 - Tax Tip: Must-Do Top Ups in FebruaryFebruary 2 - Should Investing Be This Sexy?February 1 - Is There Really Much Difference Between Investing and Gambling?January 4 - Market Update: What Lies Ahead for 2024?January 3 - Think You’re a Rational Investor? Think AgainJanuary 2 - Did 2017 Change the Way You Invest?January 1 - How to Avoid Getting Burnt by the Next Investment Bubble in 2024
December 4 - Stock Markets Break Three-Month Losing StreakDecember 3 - The Differences Between Life and Living AnnuitiesDecember 2 - Should you be an Optimist or a Pessimist With Your Money?December 1 - How to Give Meaningful Gifts This Festive SeasonNovember 4 - Market Update: The Effects of War, Higher Interest Rates and China on EquitiesNovember 3 - Why do People Invest in Property?November 2 - Retirement Planning: The ins and Outs of Nominating BeneficiariesNovember 1 - Retiring Well is About More Than MoneyOctober 4 - Why Your Marital Contract Really MattersOctober 3 - How to Avoid Being Scammed by Email FraudstersOctober 2 - The Stock Market Indices to Watch When Monitoring Equity PerformanceOctober 1 - Why do Some People Have a Problem Spending Money?September 4 - The Difference Between Being Rich and Being WealthySeptember 3 - The Ins and Outs of Buying Offshore PropertySeptember 2 - A Good Budget Doesn’t Limit Spending, it Prioritises itSeptember 1 - Should you pay off your home loan?August 4 - How to Take Advantage of the Donations Tax AllowanceAugust 3 - Five Reasons why a Financial Windfall Must be Managed CarefullyAugust 2 - What’s Cooking with the Three-Pot System?August 1 - Make Sure Your Family is Financially Prepared for When You Pass AwayJuly 4 - A Must-Have for Couples who Choose not to Tie the KnotJuly 3 - Can Gratitude Make you Feel Better About Your Money?July 2 - Four Ways to Make the Most of RetirementJuly 1 - How to Invest When There’s So Much Bad NewsJune 4 - The Ins and Outs of Compulsory AnnuitiesJune 3 - Who is Influencing Your Financial Decisions?June 2 - R is for RebalancingJune 1 - Don’t let Money Ruin Your RelationshipMay 4 - Five Ways to Teach Kids About MoneyMay 3 - Much Ado About RiskMay 2 - Living Wills: A Must Have, Despite the Grey AreasMay 1 - What is True Wealth?April 4 - How the 2023 Budget Will Impact Your PocketApril 3 - Three Financial Imperatives for Women in DivorceApril 2 - Should You Ask ChatGPT for Financial Advice?April 1 - Compound Interest: The Eighth Wonder of the WorldMarch 4 - How a ‘Safe’ Fixed Deposit Might Still be RiskyMarch 3 - Thinking of moving to Australia? Bear these numbers in mindMarch 2 - Avoid These 6 Barriers to Wealth CreationMarch 1 - How Good do You Think You Are at Investing?February 4 - Is Money Stress Taking a Toll on You?February 3 - Why an Endowment is One of the Best Ways to Invest OffshoreFebruary 2 - Why too Much of a Good Thing Can be a Bad ThingFebruary 1 - Invest With FIRE and Never Look BackJanuary 4 - Why Lottery Winners End up Broke: The Importance of Your Financial ContextJanuary 3 - Discover the Freedom of a Tidy PortfolioJanuary 2 - Why You Absolutely Should be Investing in EducationJanuary 1 - Four Simple Steps to Start the Year on the Right Financial Foot
December 4 - What is This Volatility Risk People are Always Talking About?December 3 - Why You Need to Watch Out for The Butterfly EffectDecember 2 - 6 Ways to Achieve Financial FreedomDecember 1 - Three Books for the HolidaysNovember 4 - The Question of LoyaltyNovember 3 - Why do we Even Have Bull and Bear Markets?November 2 - Should I Buy a Holiday House?November 1 - Put Stocks, Rather Than Socks, Under the Tree This ChristmasOctober 4 - Can You Take Out Life Insurance on Someone Else?October 3 - Loss Aversion and Lifestyle Creep – How Behaviour Influences SavingOctober 2 - Why Timing Might be Everything in Retirement – Especially in a Bear MarketOctober 1 - Get Rich - Stay Rich Eight Mistakes Wealthy People Never MakeSeptember 4 - Capital Gains Tax: 10 Common Questions AnsweredSeptember 3 - The Risk That Many Investors Don’t Think AboutSeptember 2 - Much Ado About Regulation 28 and the Private InvestorSeptember 1 - The “Two Bucket” Retirement Savings System: What is it and Why is it Important?August 4 - Retirement Planning for Age-Gap CouplesAugust 3 - A Simple “50-15-5” Budget Hack for Women (and Men!)August 2 - Does Your Family Need a Constitution?August 1 - Women’s Month: Three Ways You Can Improve Your Money HealthJuly 4 - Five Things to Check When a Loved One Passes AwayJuly 3 - Rules of Financial Planning For a Special-Needs ChildJuly 2 - Why Your Financial Plan Should Cater For Possible DementiaJuly 1 - Why Inflation is the Most Important Investment BenchmarkJune 4 - How Relevant Is The 4% Rule of Thumb These Days?June 3 - Why You Should Treat Your Finances Like Your HealthJune 2 - Is Your Business Good Retirement Capital?June 1 - With the Limits Raised, How Much Should You Invest Offshore?May 5 - Quote of the Month: Challenging the Rejection of an Insurance ClaimMay 4 - Financial Products: The Less You Understand, the More You PayMay 3 - The Miracle of Investment Debit OrdersMay 2 - Five Things to Think About as Interest Rates RiseMay 1 - Stay Calm When the Bear ProwlsApril 5 - Quotes of the Month – The War in UkraineApril 4 - Smart Ways to Give: During and After Your LifetimeApril 3 - Take These Three Steps to Break the Money Shame SpiralApril 2 - When Things Don’t Go According To (The Financial) PlanApril 1 - What Amazon and Ford Can Tell Us About DiversificationMarch 4 - Quotes of the month – What the NFT?March 3 - How to Avoid Losing Your Life’s Savings to a “Tinder Swindler”March 2 - The Different Ways to Invest: What Does It All Mean?March 1 - Three Reasons You Shouldn’t Wait to Talk to Your Kids About MoneyFebruary 6 - Quote of the Month – Don’t Cash In Your Retirement SavingsFebruary 5 - Should You Top Up Your Retirement Annuities Now?February 4 - Don’t Let Delays in the Master’s Office Leave Your Family in Financial DistressFebruary 3 - Don’t Let Delays in the Master’s Office Leave Your Family in Financial DistressFebruary 2 - Three Reasons an Insurer Could Cancel Your PolicyFebruary 1 - Investing: Men and Women See Things DifferentlyJanuary 4 - Quote of the month – Stay invested!January 3 - What SARS Says About Crypto Assets and TaxJanuary 2 - Three Ways to Leave a Legacy, And Not Just an EstateJanuary 1 - Red-Carding the Myth of The Rational Investor