What Is A Will??
A will is a document that says what you want done with your property when you die. Examples of property that wills deal with include real estate, money, investments, and personal and household belongings that you own. You can change your will at any time. A will has no legal effect until you die.
What Is An Estate?
An estate is the property that a person owns or has a legal interest in. The term is often used to describe the assets and liabilities left by a person after death.
What Is A Trust?
A trust is created to hold property or assets for the benefit of a particular person called the beneficiary. It is managed by a person called a trustee, who has an obligation to deal with the property for the beneficiary of the trust. There are many different kinds of trusts.
“Living Wills”
A “living Will” is a “Health Care Directive” and is usually used together with a Power of Attorney for Personal Care. This is a legal document in which where you have provided specific instructions regarding your care should you become terminally ill and are unable to communicate your wishes. (i.e. decisions making around artificial life support).