Which term is commonly used to refer to the legal process of deciding on an individual's medical preferences in advance?

Advanced care planning is the correct term used to describe the process of making decisions about an individual's medical preferences ahead of time. This practice allows individuals to outline their healthcare wishes, communicate their values, and ensure that their preferences are respected in the event that they cannot speak for themselves due to illness or incapacity.

Advanced care planning typically involves discussions with healthcare providers and family members about treatment options and end-of-life care. This proactive approach helps to minimize confusion and conflict among family members and healthcare staff during critical moments when decisions need to be made.

In contrast, estate planning refers to the management and distribution of an individual’s assets after their death, long-term care planning focuses on preparing for future assistance with personal care needs, and financial planning deals with the management of one's financial resources and strategies for future financial needs. While all of these processes are crucial aspects of personal and family planning, they do not specifically address the advance determination of medical care preferences, which is the essence of advanced care planning.