What is the difference between a Will and a Living Will?
A Will is a set of instructions for the administration and disposition of individually-owned assets and payment of administration expenses and taxes at death. A Living Will, on the other hand, is a statement of philosophy concerning your desire for treatment in the case of terminal illness, if the procedures in question are only going to delay the dying process. The Living Will is an advance medical directive, along with a Durable Power of Attorney for Health Care and a HIPAA Authorization.
A will (last will and testament) only takes effect after your death. It disposes of your property and can designate guardians for your children. A living will has nothing to do with your property or children but only your election concerning life-prolonging procedures in the event of your permanent illness or unconsciousness where death is imminent. You should have both.
