How Is A Living Will Different From A Last Will?
Many think establishing a will is an effective means to manage one’s estate after death. A will, though, can mean either a last will or a living will. These terms may seem like they are similar and accomplish the same goals. However, they actually function quite differently and are used for different purposes. Though, it is essential to note that both can be included in a comprehensive estate plan.
The question of how a living will is different from a last will is a good one. A Connecticut estate planning attorney at The Law Office of Brian S. Karpe explains more about the unique differences and roles that a living and a last will have for a person’s estate plan.
Living Will Vs. Last Will
There is good reason to have both a last will and testament and a living will as a part of an estate plan.
You may become incapacitated at some point in your life. As a result, you may be unable to speak for yourself and make your wishes known regarding what type of healthcare services you want and which you do not. For example, if you come down with a serious illness, it may prohibit you from speaking to medical providers or your loved ones to tell them what you want to happen. In a living will, you can outline what you would prefer to happen should such a situation come about. Here, you can name someone who will follow the instructions in your living will to meet your preferences. Additionally, a living will can serve to alleviate the pressure off of your loved ones by having such decisions already taken care of so that they do not have to figure out how to make them for you.
Last Will and Testament
All the assets and wealth you accumulated over your life will have to go somewhere after you pass on. If you put a last will and testament together, this document will dictate how you want everything disbursed and who will receive it all. The beneficiaries you name in your last will and testament will be the individuals that you would like to inherit your estate. In addition to asset distribution, your last will and testament can also do other things, like provide instructions for who you would want to take care of your children upon your passing. In a last will and testament, you can also name someone of your choosing to manage it according to the terms you established.
Speak to a Connecticut Estate Planning Attorney Today
As you can see, a living will and a last will and testament are not the same, but they are both crucial parts of an estate plan which is why having both included in yours is critical. If you would like help with putting together a last will and testament or a living will in Connecticut, please call a Canton estate planning attorney at The Law Office of Brian S. Karpe to schedule a free consultation at 860-217-1458.