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

Question

How many different kinds of wills/testaments are there anyway?

Answer 1

A standard will covers your wishes for the disposable of your assets and inheritances after your death.  A Living Will covers your wishes as to the extent and type of medical treatments that you desire in the event that you are incapable of making those decisions when the time comes (i.e. in a coma).  A Living Will can also include your desires regarding organ donation.  Everyone needs both wills, regardless of financial or health circumstances.  Even if you believe everyone in your family agrees on  life saving measures and/or organ donation, a Living Will insures that YOUR wishes are carried out and your relatives are not left with the burden of making hard choices under stressful circumstances.  

A lot of people avoid these types of documents and discussions because they are uncomfortable with the thought of their loved ones demise.  But, death and illness are a real fact of life and responsible measures should be taken to eliminate as many problems as possible.

Answer 2

There are many different kinds of ways you can set up your estate.  A living will not only specifies what you want done with your estate, but also your wishes regarding keeping you alive if you should be seriously ill....naming a person to make medical decisions for you, and decisions regarding your estate while you are medically alive, but incapacitated.  See a lawyer to decide which is best depending upon the size of your estate.

Answer 3

A Living Will has nothing to do with property.  A Living Will allows the you a way to dictate what life support you want in case you ever becomes incapacitated with no reasonable expectations of a recovery.  In a Living Will a person can often name who they want be able to visit them, and often names a person to enforce your Living Will.  A Living Will may also include whether you want to donate your organs, or whether you want to be cremated.  Living Will's often are called "Health Care Proxies" or "Advanced Health Care Directives".  

By a "standard" will you probably refer to a "Last Will and Testament", where you list what you want done with your property and children when you die.  A Last Will only goes into effect after you die.

Basically a "Living Will" and a "Last Will and Testament" are used for completely different purposes when it comes to estate planning.  There are a few other common estate planning documents, but these are the only two "wills".

Living Wills became very popular in the news a few years ago because of Terri Schiavo.  Due to an accident Schiavo spent years in a vegetative state in a hospital kept alive only by a feeding tube.  After several years her husband wanted to pull the feeding tube, but her parents objected.  Since Terri didn't have a Living Will, a long contentious court fight ensued with the husband eventually winning (despite efforts of the Governor of Florida and the Republican led congress).