What is a living will?

A living will is not the same thing as a last will and testament nor is it the same thing as a living trust—although all three of these documents can be part of a comprehensive estate plan. Here’s what each of these documents are:

What are the advantages and disadvantages of living wills?

There can be various advantages and disadvantages to living wills. Let’s take a look at a few of those. They can save the individual’s family from dealing with financial burdens. Living wills can save your life.

What are the rules for living wills?

The rules for living wills vary depending on where you live. In some cases, this document is not called a living will at all; it could be referred to as a directive or a healthcare directive. Every state has a slightly different procedure for living wills and different requirements about the creation and execution of these useful legal documents.