Is There More Than One Type of Will?

Just about everyone has heard of the basic estate planning document called a will or last will and testament. This is a document that you can use to record your final wishes with regard to the distribution of your monetary resources. Before we look into the other types of wills that are used in the field of estate planning, we should point out the fact that a will is not always the best choice. There are various different trusts that can be used, and in many cases, a trust of some kind would be a better option. The ideal tool will depend upon the circumstances. If you discuss all of your options with a licensed estate planning attorney, you can go forward in a fully informed manner and ultimately create a custom crafted estate plan that ideally suits your needs. Now let s look at some of the other wills that are often utilized. Living Wills There is another type of will called a living will. This document has nothing to do with financial matters. You state your preferences regarding t
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