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BUSINESS LEARNING CENTER

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Retirement and Estate Planning

 

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Living Wills And Trusts

Q: What’s the difference between living trusts and living wills?

A: A "living trust" is an estate planning document that can be used to augment or replace a last will and testament. (See our blog topic: "What is a Revocable Living Trust?") A "living will" is very different.  A living will is essentially a health care directive. In fact, more and more commonly living wills are called "advance health care directives". 

In the event that you become incompetent an advance health care directive tells your loved ones and medical professionals what your wishes are with respect to medical treatment or


National Association for the Self Employed