The Collins Law Firm, P.C.
Schedule A Free Consultation Today Call: 757-818-9539

Living wills and living trusts are not the same

Virginia residents are sometimes confused by the amount of paperwork that can be included in an estate plan, and their bewilderment sometimes grows when they find out that some of these documents have names that sound alike. It would be reasonable to assume that living wills and living trusts are broadly similar, but that is not the case. While their names may sound the same, the two documents actually serve very different purposes.

Living wills are drafted to provide physicians with guidance and instructions regarding end-of-life situations. They specify when life-prolonging treatment should end and only care that reduces pain and provides comfort should be administered. Documents like living wills are known as advanced medical directives. A life-prolonging procedure declaration is another type of advanced medical directive that provides doctors with a very different set of instructions. These documents tell medical professionals that their drafters wish to remain alive for as long as possible and want treatment to continue until every option has been exhausted.

A living trust does not deal with health care. These documents give individuals more control over their estates and can reduce their taxes. They are an alternative to a traditional last will and testament and include provisions that stipulate when and how assets will be distributed. Another benefit of living trusts is that they allow an estate to be administered more privately because the assets placed into them are not subject to probate.

Attorneys with estate planning experience could help clear up confusion over documents like living wills and living trusts and help individuals attain the peace of mind that comes from knowing these matters have been attended to. Lawyers could also suggest revisiting estate plans on a regular basis and modifying them when circumstances change. This is an especially prudent step to take after divorce.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact Us For A Free Consultation Today!

To arrange a free initial consultation with our experienced Virginia lawyers, contact The Collins Law Firm, P.C., at 757-818-9539. You may also complete our online form, and we will be in touch with you shortly.

Contact Us Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

The Collins Law Firm, P.C. Call Today: 757-818-9539 Fax: 757-483-6684

Portsmouth, VA
5709 Churchland Blvd., Suite A
Portsmouth, VA 23703

Get More Info

Chesapeake, VA
(by appointment only)
828 Greenbrier Parkway
Ste 210
Chesapeake, VA 23320

Get More Info

Emporia, VA
(by appointment only)
155 Spring Street
Emporia, VA 23847

GET MORE INFO

Virginia Beach, VA
(by appointment only)
701 Independence Circle
Ste 202
Virginia Beach, VA 23455

Get More Info