Intangible assets have been argued to be one possible contributor to the disparity between company value as per their accounting records, and company value as per their market capitalization. 1  Considering this argument, it is important to understand what an intangible asset truly is in the eyes of an accountant.
The challenge is that a letter of intent can be, at the same time, both binding and nonbinding. And when drafted to resemble an official contract, even letters of intent that specifically say they are not binding might be held by a court to be binding in whole or in part for a variety of reasons.
When a living will is made in compliance with state law, it generally becomes legally binding. Although state laws vary, living wills generally include provisions related to end-of-life care and require the maker's and witnesses' signatures to make them legally binding. Some states require witnesses and a notary. You can use a template to make a living will, provided it is in compliance with your state's laws.