According to a recent survey conducted by LegalZoom, just 41% of Americans had a last will and testament, and only 9% had a living will.

Death isn’t something anyone particularly wants to think about or plan for, but it’s essential for your loved ones to know what to do if the inconceivable does happen sooner than expected.

Both a last will and testament (often referred to simply as a will) and a living will serve as a final plan for financial and other details at the end of life. The key difference is that while a will doesn’t take effect until the subject’s death, a living will takes effect when the subject is medically incompetent to manage their own affairs, including medical care and personal finances. Read more…