What Is the Difference Between a Living Will and a Living Trust?

You are probably well aware of the existence of a legal document called a last will or last will and testament. This is a commonly utilized estate planning document. A will can be used to state your final wishes regarding the way that you want your assets to be distributed after you pass away. Some confusion can arise when it comes to estate planning documents that have similar sounding names. In addition to the last will, there is also a legal document called a living will. Because just about everyone is aware of the fact that a last will can be used to facilitate monetary transfers, people sometimes think that a living will does the same thing in a different way. In fact, a living will is not something that is used to transfer monetary assets. You would use a living will to state your wishes regarding the use of life-sustaining measures.  In California, living will-type decisions are typically made in the statutorily authorized document known as an Advance Health Care Directive. Do
http://www.norcalplanners.com/blog/estate-planning/difference-living-living-trust/

Advertisements
Standard

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s