Video More video CNN's Gerri Willis reports on what you need to know about living wills and the importance of these documents. Play video

NEW YORK (CNN/Money) - The case of Terry Schiavo became a battleground this weekend between right-to-life advocates and those who say it would be more humane to end her life than prolong it. Congress met in a rare special session Sunday to consider bipartisan legislation that would save her life.

But some say the pain and suffering experienced by Schiavo and her family could have been avoided had she signed a living will making clear her wishes before she collapsed in her home and suffered severe brain damage.

Here are 5 Tips on what you need to know about living wills.

Living wills are simply written documents that allow individuals to decide how they should be treated if they were to become incapacitated. It instructs not only family members, but also health care professionals, about exactly the sort of medical care you want if you cannot speak for yourself.

"At the time you are most vulnerable, you want to make sure people know what you want to have happen to you. You don't want people to guess about it, or in some cases, not even be able to do what you want," says Gary Schatsky, a New York financial advisor and attorney.

State laws vary when it comes to the rules regarding living wills, but generally if you have one your wishes will be followed.

It's not enough just to have a living will. For example, you'll need to specify when you want artificial nutrition and hydration and when you don't. For more detail, point your browser to www.agingwithdignity.org.

Remember also that the terms of a living will are triggered only under certain circumstances -- typically that the individual is terminally ill and not expected to recover or they are in a persistent vegetative state (that means the individual cannot think, speak or respond to commands and are not aware of their surroundings.)

Living wills are NOT triggered in emergency situations. For example, if you are in a car accident, emergency personnel will do everything they can to save you life.

It's not the living will alone that will ensure your wishes are followed. You'll also need to appoint a health care agent or surrogate -- that is, someone who will make sure that your wishes are followed.

Picking the best surrogate isn't as easy as it looks. For example, if you and your husband are both in your 80s, you might want to choose someone younger to be your advocate.

Malley says to choose someone with a lot of backbone who won't be afraid to stand up to doctors or other health care professionals in order to get your wishes fulfilled. Remember, your agent will only have power if you become incapacitated.

Talk to your family members and your doctor, as well as your health care agent about your desires and show them the living will. If you don't you risk misunderstandings and complications that could risk your wishes being implemented. Don't forget to store your living will in a place that people close to you can find.

Once you've decided you want a living will, you'll need to figure out whether you'll write your own or hire an attorney to do it for you. At www.agingwithdignity.org, you can put together a living will on your own.

Schatsky, however, advises that you may want to hire an attorney to do it for you to make sure all technical requirements are met for your state.

Whichever route you take, be sure to review your living will once a year to make sure it still fits your wishes. If you do make changes, destroy old copies and make sure your doctor, health care agent, and especially your family knows of the changes.

Gerri Willis is a personal finance editor for CNN Business News and the host for Open House. E-mail comments to 5tips@cnn.com.