Are a Living Trust and a Living Will the same?

It’s easy to confuse the terms Living Trust and Living Will, but they are very different documents that serve completely different purposes in an estate plan.

Here’s what you need to know:

A Living Trust is a legal document that allows you to manage and distribute your assets, such as property, bank accounts, or investments, before and after your death. You maintain control during your lifetime, and after you pass away, your named Successor Trustee takes over to distribute the assets according to your wishes.

It is primarily focused on estate management and avoiding probate.
→ Learn more: What is a Revocable Living Trust?

A Living Will, sometimes called an Advance Directive, is a document that outlines your medical treatment preferences in the event that you become unable to communicate your wishes. This often includes decisions about:

A Living Will becomes active only if you are incapacitated, and it guides doctors and your healthcare surrogate in making medical decisions on your behalf.
→ Learn more: What Is a Living Will?