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Finance Dictionary and Glossary of Investment Terms
living will
Definition 1.
A document in which one specifies which life-prolonging measures one does, and does not, want to be taken if one becomes terminally ill or incapacitated.
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Definition 2.
A document that allows a person to explain in writing which medical treatment he or she wants or doesn’t want during a terminal illness. A living will takes effect only when the patient is incapacitated and can no longer express his or her wishes. The will states which medical treatments may be used and which may not be used to die naturally and without the patient’s life being artificially prolonged by various medical procedures.
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