What's the Difference

What's a “Living Will?” What's a Living Trust? Are they the same?

Article
A “Living Will” and a Living Trust are two distinct and different legal documents.

“LIVING WILLS”
A “Living Will” falls under the broad category of “advance directives” -- legal mechanisms for directing your health care when you are unable.

A “Living Will” is simply a written statement of your wishes, which must be interpreted and implemented by someone, perhaps a family member or your physician. Because “Living Wills” are not legally binding in Michigan, your best interests will not be served by using any type of prepared “Living Will” forms.

By contrast, under a Durable Power of Attorney for Health Care (also called a medical power of attorney for health care or a patient advocate designate form) a person, your appointed patient advocate, makes decisions based on your wishes and the circumstances of your medical condition at that particular time.

Durable Power of Attorney for Health Care forms are available through Right to Life of Michigan.

LIVING TRUSTS
A Living Trust, often referred to as a Revocable Living Trust, provides all the same benefits as a Will and is a legal entity that holds property for the benefit of another.

A Living Trust avoids much of the cost and time delays of Probate Court, provides privacy, is less susceptible to challenge by dissatisfied heirs, allows for the continuity of family income and business ownership, is more flexible than a will for moving to another state, can reduce or eliminate federal estate taxes, and requires the assistance of legal counsel.

LEARN MORE
For more information on Wills, Living Trusts, Powers of Attorney (including Durable Power of Attorney for Health Care), and a listing of prolife estate planning attorneys near you please contact Kathy Crombie at (248) 553-8800.

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