A living trust and will are both documents that can be made to ensure that a person's life and assets are considered if they are in certain circumstances that they can no longer decide for themselves, usually this is at a time where death is imminent. A last will is a document that enables you to get your affairs in order in preparation for the event of your death. Those who don't make a will, run the risk of leaving the assets, belongings, and even family in a vulnerable situation.
Not putting plans in place can have devastating effects on those that are close to you as making arrangements for your assets can be complex and stressful.
Whilst no one wants to think about their death. It is an inevitable event that should be handled with care. And, it provides a way for you to have your final say of what it is that you wish to happen to your assets, children, and pets.
Similarly, a living will and living trust are legal documents that often go overlooked. Whilst, no one wants to think about the potential situation where they may no longer be able to make their own decisions, putting plans in place just in case the situation occurs gives peace of mind.
What Is A Living Will?
A living will is also known as a medical directive or advance directive. It is a written legal document that states an individual's wishes concerning life-support and their medical treatment. It is usually concerned with circumstances of being terminally ill, in a coma, incapacitated, seriously injured, or having dementia.
The document often states specific information about the type of medical care or intervention an individual wishes to receive even if they are unable to make their own decisions or communicate effectively.
This includes making decisions about treatments or procedures you wish or do not wish to be performed and applied such as resuscitation, ventilation, dialysis, or organ donation.
Making a living will is important to ensure that how you live your life's in your hands.
It's a document that enables you to have a voice when you may need it most. For those who don't have a living will and find themselves in the circumstances of not being able to communicate their wishes, decisions are made by them.
Many appoint a healthcare proxy who is an individual that can be selected to become the decision-maker regarding your care if you are no longer able to.
What Is A Living Trust?
A living trust is also known as an inter vivos trust.
It is a trust that is set up whilst a person is still alive. Unlike a living will which deals with the treatment of an individual who is still alive but incapacitated; a living trust works to manage an individual's assets and property of a person who is unable to make their own decision or is incapacitated.
The individual who sets up the trust will appoint a trustee. In the circumstances where you are unable to make decisions for yourself, your trustee will be able to manage your assets and access them to release equity for your care.
However, any assets that are present outside of your trust will be put under the control of the court. In the event of your death, the appointed trustee will continue to protect your assets for your beneficiaries.
Having a living trust is a great way to ensure the safety of your property and assets if you are unable to make your own decisions. This is a way to ensure that you continue to have a say in what happens to your property and assets when you can no longer manage them.
Setting up with the best online living trust services and appointing a trustee can give you peace of mind in knowing that your belongings are protected and your directions are carried out. You can simply create a living trust online with Wills.com.
Benefits Of A Living Will vs A Living Trust
Both a living will and a living trust offer benefits. A living will provide an individual with a voice when they may not be able to communicate their wishes and if offers a person to make the final decisions for what they wish for their care.
Whereas, a living trust focuses on the management of a person's assets who can no longer take care of themselves. Both are equally as important and most effective together. Making an online living will and trust can be done simply with the help of Wills.com.
Leading online will services such as Wills.com offer
- Quick
- Efficient
- Affordable
- Tailored will writing services
Create a Living Trust Online
Making an online living will and trust with services you can access online. Online will services continue to grow in popularity.
- They offer a quick and efficient way of writing a will without the hassle of spending months consulting with a lawyer, making drafts, and waiting for signatures.
- Leading online will services such as Wills.com make writing wills easy and affordable.
- They offer a service that requires only 15 minutes of your time.
- The process consists of tailored questions that will aid in generating a state-specific legal document.
- They provide all the necessary information and assistance to offer a quick and efficient service.
Takeaway
Making an online living will and trust is something that should be done when you are healthy. Though no one wants to think of the circumstance of becoming incapacitated, wouldn't you rather know that your affairs are in order and your directions are set in the case of an unfortunate circumstance?
Having a living will and trust is a great way to protect your belongings and assets and put directives in place whilst you still can. It is also a great way of ensuring that those closest to you aren't burdened with the pain of decisions considering your welfare being taken out of their hands.
Making a living will and trust can be done quickly and efficiently online. At Wills.com we provide a simple process that generates a state-specific legal document in under 15 minutes.