When it comes to estate planning, you’ve most likely heard people mention a couple of different types of wills. The most common is a “last will and testament,” or simply a “will.” But you may have also heard people talk about what’s called a “living will.”
Both terms describe important legal documents used in estate planning, but their purpose and the way in which they work is very different. Here are some of the most critical things you should know about livingwills and why having one is an essential part of every adult’s estate plan.
• What is a living will?
A living will, often called an “advance healthcare directive,” is a legal document that tells your loved ones and doctors how you would want decisions related to your medical care handled in the event you become unable to make such decisions yourself.
