What is the difference between a living trust and a living will?

A living trust and a living will are both important parts of a comprehensive estate plan, but they have different functions. A living trust is a legal document that allows you to transfer assets and property to a trustee who will manage it for the benefit of the trust beneficiary. The trust is created when you are alive and goes into effect immediately. The trustee manages the trust for the benefit of the beneficiary or beneficiaries and can distribute the assets to them according to the terms of the trust. A living will, on the other hand, is a legal document that outlines your wishes regarding medical care when you are no longer able to make decisions for yourself. It states your wishes regarding the use of life-sustaining treatments, if any, such as a feeding tube or respirator, and it may also include instructions about organ and tissue donation. In Nebraska, a living trust is used to protect your assets, while a living will provides guidance when you are no longer able to make decisions for yourself. Both documents are an important part of your estate plan and should be created with the help of an estate planning attorney.

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What is the difference between a living trust and a living will?

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