There are times when a client insists that they want a Living Will, without knowing the difference between a Living Will and a Last Will and Testament. A Living Will is a document that states your intention regarding withholding or withdrawal from life-prolonging procedures when faced with a terminal condition. A Last Will and Testament disposes of personal property, addresses debt, contains the appointment of a personal representative and revokes prior wills. They are not one in the same. A Living Will can be completed independently, or can be part of an Estate Plan. However, it is important to know that a Living Will provides direction for a very limited issue, and does not address your assets.
There are also differences between a Living Will and a Healthcare Surrogate. A health care surrogate gives the authority to the person of your choosing during any incapacity. Alternatively, a Living Will is limited to those circumstances addressed above. Just like any other Estate Planning document, contact an experienced attorney, such as Shulman Law, to assist with your planning needs. You will want to thoroughly understand the documents that are being executed and what each document can accomplish.
Shulman Law is a full service Estate Planning Law Firm that can assist with all areas of Estate Planning, including: Contested Wills, Health Care Surrogate, Power of Attorney, Guardianship, Pre-need Guardianship, Inheritance, Living Wills, Missing Heir Searches, Contested Trusts and Estates, Decedents Estates, Estate Administration, Estate Litigation, Estate Planning, Estate Planning for Parents of Handicapped Children, Estate Planning for the Disabled, Estate Planning for the Elderly, Estate Planning for Unmarried Couples, Estate Planning for Gay and Lesbian Couples, LGBTQ Estate Planning, Estate Settlements, Family Trusts, Family Wealth Transfer, Financial Planning, Living Trusts, Personal Planning, Pet Trusts, Powers of Attorney, Revocable v. Irrevocable Trusts, Retirement Planning, Special Needs Trusts, Trust Administration, Trust and Estate Collections, Trust Law, Trust Litigation, Trust Planning, Unclaimed Property, Wealth Planning, and Wealth Preservation.