Last Will and Testaments vs. Living Wills: What is the Difference?

There are many legal documents to create when planning your estate. Two of these are perhaps your last will and testament and your living will. It is not uncommon for people to confuse these two terms, likely because they both include the term ”will.” However, there are very important differences between the two and it is critical that you know what they are before you create your plan. Below, our Utah estate planning attorney explains the differences between the two.

What is a Will?

Your will, formally known as your last will and testament, is a legal document that outlines how you would like your property distributed after you pass away. In your will you will be titled the testator and the people or entities you leave your property to will be titled the beneficiaries. You can pass on any property you own, including vehicles, real estate, and bank accounts by using your will.

Your last will and testament can also be used to designate guardians for your minor children or other dependents. This helps ensure that  if something happens to you, your wishes on who will raise your dependents is decided. Your last will and testament will also name a personal representative. This is the individual who will carry out the wishes you stated in your will. They will also administer your estate, pay valid claims brought by creditors, and distribute your property to the designated beneficiaries.

Your last will and testament does not become effective until you pass away. If you pass away without a will, the intestacy laws in Utah or the state in which you reside will govern how your property is distributed. These laws may not align with your wishes. This is why it is so important to plan for these matters.

What is a Living Will?

A Living will, also known as an Advanced Healthcare Directive in Utah, is a legal document that allows you to outline your healthcare preferences in the event that you are unable to communicate them yourself. For example, if you become unconscious after an accident or during a serious illness, a living will ensures your treatment preferences are known and respected, including life sustaining measures as well as end-of-life treatment.

Should You Draft a Will or a Living Will?

Most people should have both a last will and testament and a living will, as they serve two very different purposes. While a living will protects your wishes medically during your lifetime, a last will and testament ensures your loved ones are provided for when you pass away. Both documents memorialize your wishes, making them known to your family and making it easier on them if they have to make decisions on your behalf. When working with a Utah estate planning attorney, you can ensure that you and your family members are provided for now, and in the future.

Call Our Estate Planning Attorney in Utah Today 

At AGS Law, our Utah estate planning attorney can review the facts of your case, help you determine which legal documents you need, and ensure they are executed properly so you and your loved ones are protected. Call us today at 801-477-6144 or fill out our online form to schedule a consultation with our experienced attorney and to learn more about how we can help with your case.

Source:

le.utah.gov/xcode/Title75A/Chapter3/C75A-3-P3_2024090120240501.pdf