Wills: What Are The Types?

A will and a living will are two different legal documents used to outline a person’s wishes, but they serve different purposes:

1. Will (Last Will and Testament):

A will is a legal document that specifies how a person’s assets and property should be distributed after their death.

It allows individuals to designate beneficiaries, name an executor to oversee the distribution of assets, and provide instructions for guardianship of minor children.

A will only takes effect upon the death of the individual.

2. Living Will (Advance Healthcare Directive):

A living will, also known as an advance healthcare directive, outlines an individual’s preferences for medical treatment in case they are unable to communicate their wishes in the future.

It typically addresses issues like life-prolonging medical interventions, organ donation, and preferences for end-of-life care.

A living will only comes into effect if the person becomes incapacitated and cannot make their own healthcare decisions.In summary, a will deals with the distribution of assets after death, while a living will addresses healthcare decisions in case of incapacity. It is recommended to have both documents in place to ensure your wishes are carried out both during and after your lifetime.