Q. What Are the Differences Between Will, Living Trust, Living Will, and Durable Power of Attorney?
A. These are the important documents for any estate plan.
Will
A will ensures that your property will be distributed and your family will be cared for exactly as you wish. Without a will, the courts may decide how your property is distributed.
Living Trust
A living trust allows you to distribute your assets and property while you are still alive, while at the same time reducing the amount of taxes you may have to pay.
Living Will
This document specifies the types of medical treatments you want in the event that you become unable to express those wishes directly. A living will not only ensures that you get the care you want, but protects your loved ones from making difficult decisions on your behalf.
Durable Power of Attorney
In the event you become incapacitated, this document allows you to designate someone you trust to make decisions on your behalf.
A. These are the important documents for any estate plan.
Will
A will ensures that your property will be distributed and your family will be cared for exactly as you wish. Without a will, the courts may decide how your property is distributed.
Living Trust
A living trust allows you to distribute your assets and property while you are still alive, while at the same time reducing the amount of taxes you may have to pay.
Living Will
This document specifies the types of medical treatments you want in the event that you become unable to express those wishes directly. A living will not only ensures that you get the care you want, but protects your loved ones from making difficult decisions on your behalf.
Durable Power of Attorney
In the event you become incapacitated, this document allows you to designate someone you trust to make decisions on your behalf.
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