Living Will vs. Last Will & Testament: What’s the Difference?
Has making advanced directives along with a last will and testament been on your to-do list for a while? It is a common task to put off because it requires more time and thought, and even if you think you don’t need one– you do! Our local lawyers in Knoxville make the process easy! Perhaps you are not clear about the difference between a living will vs. last will? We want to share how they are different and why you should have both, so keep reading to learn more.
What is a living will?
A living will is a type of advanced care directive that goes into effect while you are still alive but unable to advocate or communicate for yourself regarding end of life care, pain management, life sustaining treatments, and even things like organ donation. This is your chance to tell loved ones and medical professionals your preferences about life support and vegetative state decisions, including the use of resuscitation, a ventilator, and other procedures and medications. Not only are you giving yourself peace of mind but also relieving the emotional and phsycological burden on your family during an already emotional grieving process.
What is a last will and testament?
A last will and testament goes into effect after your passing and outlines how to distribute your property and assets. You will need to name an executor, the person in charge of managing the estate, as well as beneficiaries who will receive portions of the estate. You can also name legal guardians for any minor children, dependents, and even pets. If you don’t have a will at the time of your death, Tennessee state laws will determine the distribution of your assets, which can be a long and drawn out process that can put strain on your family. Plus, you don’t want to leave it up to the courts to decide who will be the legal guardian for your children if you have minors or dependents.
Why should you have both?
Living wills aka advance care directives and estate planning decisions aren’t necessarily enjoyable to think about, however these documents are vital for ensuring that your wishes are carried out. Having both a living will and a last will and testament are highly recommended not only to plan for your future but also determine the legacy you’ll leave behind one day.
Ask our Knoxville law firm for expert advice and guidance!
Our knowledgeable attorneys have helped hundreds of clients make these important life and death decisions. We do our best to take the stress out of the process by answering questions, explaining legal terminology, and providing clear and transparent advice.
Don’t put off making your last will and testament and advanced directives any longer. It is the best way to save time and money during the administration of your estate. Get in touch with our Knoxville last will and testament attorneys today for a no-fee consultation!
