Last will vs. living will: What’s the difference?

Despite their similar names, last wills and living wills are legal documents that serve different purposes.

The difference between a last will and a living will

With a last will, you choose who you want to inherit your property after you pass away. With a living will, you outline your preferences about future healthcare treatments, in case you're ever unable to communicate your wishes to doctors and loved ones.

A last will and a living will manage different aspects of your life, but both make sure your affairs are managed according to your wishes.

What is a last will and testament?

A last will and testament, or will, is a legal document that describes how you want your property and other assets distributed after you die. The person who writes a will is called a testator, and the people or organizations that receive assets from the will are called beneficiaries. Any property you own — including real estate, vehicles, bank accounts, and personal items — can be passed on to someone via your will.

You can also use your will to nominate guardians for your children, dependents, or pets, if you have them. This ensures that anyone currently in your care is provided for, even if something happens to you.

Finally, you can use your will to nominate an executor, who will carry out the wishes outlined in your will. Your executor will distribute assets to your beneficiaries, pay outstanding taxes and debts, close accounts, and more.

If you die without a will, state-specific laws (called intestacy laws) determine who receives your property and other assets.

What is a living will?

A living will is a legal document that lets you specify your healthcare preferences in case you’re ever unable to communicate them — for example, if you were in an accident and were unconscious. Typically, your living will doesn’t go into effect unless you become incapacitated.

A living will can cover your preferences on many healthcare procedures, including:

• Breathing tubes or ventilators
• Feeding tubes
• Blood transfusions
• Dialysis (a treatment that takes over kidney function)
• Types of pain medications
• Organ donation
• CPR preferences (similar, but separate from a do not resuscitate order)

A living will is a type of advance directive. Depending on where you live, a living will might also be called a “medical directive” or “advance healthcare directive.” A living will can help your loved ones navigate difficult medical decisions with confidence, knowing it’s what you chose for yourself.

Do I need both a last will and a living will?

It’s a good idea to have both. Last wills and living wills are different but important ways to prepare for your future and make sure your wishes are followed. You can give your family and friends peace of mind by creating both your last will and testament and living will for free through FreeWill.