A Will or a Living Will?

Navigating through the legal labyrinth of estate planning can feel as complex as quantum physics, except this is your life, not Schrödinger's cat, at stake. One common snare? The confusion between a standard will and its living counterpart, the living will. Understanding the difference between a will and a living will could mean the difference between smooth sailing and tempest-tossed choppiness for your loved ones.

The Will Power You Pass On

When you pass away, your will kicks in. It’s your basic roadmap for splitting up your earthly possessions, both tangible and intangible.

A Standard Will:

Takes effect upon your passing;

Outlines your final wishes regarding asset distribution and guardianship, among other things;

Nominates an executor, the individual who will work with a probate attorney to administer your estate through probate court.

The Living Will Is Your Voice During Life

Flip the coin, and you have a living will. It’s not just for the accident-prone or the daredevil biker in all of us. This is the blueprint that speaks when you can't, the beacon that casts light on your medical directive wishes when you’re unable to. It contains your desires about your end of life care.

A Living Will:

Is effective while you are still among the living;

Details your preferences concerning health care in certain medical situations, specifically when you are in a terminal condition or a permanently unconscious state;

Creates a clear path for your medical power of attorney to make decisions about your final health care.

Now, you might be wondering if having both is overkill, like appointing two co-captains on a ship. But think of it this way—your standard will orchestrates your finances postmortem, your living will orchestrates your medical care in states of final incapacity. They’re two sides of the same life-coin, ensuring your wishes are known and honored during life and after.

When You Need Them Most

Emergencies don't clock in 9 to 5, but appear at the most unanticipated moment possible. Picture this—without a living will, decisions about your care are left to the gut call of your loved ones or, worst case, the sometimes out-of-touch judgment of your state’s legal processes. Without a living will, your loved ones will have to make incredibly difficult decisions, and that is a heavy burden to bear. With a living will, your loved ones are taken off the hook, and instead only need to honor your wishes.

And that's just one side of the coin. For your standard will, it's not about affluence. It's about securing a legacy where ownership is clear, and provision is airtight. Don't assume your estate's simplicity today guarantees a smooth handover tomorrow. Without a will, the law decides where your possessions should go, and that might not align with your intentions.

Making It Stick

Drafting a will or living will is not a one-size-fits-all template pickup at the estate supply store. There are nuances—legal requirements, state specifics, and personal nuances that need to be squared away. They must be signed, in the presence of witnesses, possibly notarized depending on your state, and then, crucially, stored in a place where the executors and your loved ones can find them.

Legal Limbo Begone

The stakes of getting this wrong are too high, and the cost of confusion too perilous. When it’s will vs. living will, you're not just drafting documents—you're crafting peace of mind for the future. It's a task, at once mundane and monumental, not to be overlooked. A professional estate planner can untangle the legalese, ensuring your documents are correctly drafted, and are ready to speak when you can't. If you have any questions or would like to get started with your estate plan, call (614) 334-6850 or email info@LBesq.com today to make an appointment.