The Difference Between a Living Will and a Last Will and Testament
Planning for your and your loved ones’ future is not always easy. Thankfully, with proper preparation, the law protects your assets and best interests. Writing a living will and a last will and testament makes the tough decisions for your family when you are unable.
A living will is dedicated solely to future healthcare decisions. You decide whether to remain on artificial life support in the event of a terminal illness or injury. You set limits on how much your family spends on hospital stays, medical equipment and funeral expenses. You choose whether to donate your organs. A living will can be included as part of a set of advanced directives, which also includes a designated medical power of attorney and a do not resuscitate order. Instead of letting the burden fall to your family, you can make these plans in advance.
An ordinary will, however, has no legal effect until after you have passed away. Within the context of a will, you provide information relating to:
- Naming an executor
- Bequests for beneficiaries
- How property and assets will be divided
- Who will raise minor children
- Charity donations
- Payment of debts
- Burial information
You should consider drafting a living will and last will and testament with the help of an Oklahoma City estate planning lawyer. An unclear or contested will could end up in probate court, preventing your loved ones from carrying out your wishes.
Individuals and couples interested in planning for their loved ones’ future should consider completing a comprehensive estate plan. A team of Oklahoma City estate planning attorneys helps you decide on the best choices for you and your family.