Certified Financial Planner (CFP) Practice Exam · Question
What is the primary purpose of a 'living will' (or advance directive) in estate planning?
A living will or advance directive is a legal document that expresses a person's wishes regarding medical treatment and end-of-life care, should they become una
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Question: What is the primary purpose of a 'living will' (or advance directive) in estate planning?
Answer options:
- To distribute assets to heirs before death. ✅ To declare one's wishes regarding medical treatment and end-of-life care.
- To appoint an executor for the estate.
- To legally challenge the validity of a will.
Correct answer: To declare one's wishes regarding medical treatment and end-of-life care.
Explanation: A living will or advance directive is a legal document that expresses a person's wishes regarding medical treatment and end-of-life care, should they become unable to communicate their decisions.
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