From movies and TV to mystery novels, everyone talks about a will and living testament. But what is a will, exactly? And how is it different from the less-talked-about living will?
With 27 years of experience protecting people through the law, Marietta Estate Planning attorney Kim Frye knows the best way to make sure you have the power to make the necessary decisions in a time of crisis is to have it properly documented in writing.
Read on to learn more about wills and living wills in Georgia.
What Is A Will in Georgia?
Legally referred to as a “last testament,” a will is an official statement showing a precise distribution of your assets that is only enforceable once you have passed.
It is a legal document stating who inherits your assets in the event of your death. Assets can include both physical and digital assets.
Here are some examples:
- Houses
- Cars
- Pets
- Companies
- Lands, etc.
- Social media accounts
- Digital currencies, etc.
A will is the last resort for your family to be aware of all your assets and liabilities to avoid exploitation.
What Is A Living Will in Georgia?
So what happens when you become incapacitated?
For example, getting into a car wreck that leaves you in a coma? Or an emergency operation?
A living will is a legal document that allows you to state how you want to be taken care of in these types of events.
In the event of something that would render you incapacitated, whoever you make your executor (the person responsible for making sure everything is followed according to your will or living will), would make crucial decisions for you.
That’s why it’s so vital to choose an executor of a sound mind and balance to carry out your wishes.
Differences Between A Will And A Living Will
There are clearly some notable differences between a will and a living will.
- Time of execution — A will can only have legal effect at the time of your death. A living will, on the other hand, is for medical treatment and is enforceable while you are still alive.
- What it covers – A will covers all your assets and accounts, while a living will pertain only to your health.
- Decision-making capabilities of the executor – The executor of a will ensures the smooth distribution of your assets and properties. The executor of a living will only make health-related decisions for you.
Contact Marietta Estate Planning Today
Kim Frye, our lead attorney at Marietta Estate Planning, has 27 years of experience protecting people through the law. We are ready to help you set up everything you need to protect your family’s future and avoid these dangerous mistakes. Contact us today to schedule your consultation.
