A testament, a legal document that serves as a will, is more than just a piece of paper. It’s a powerful tool that allows individuals to express their final wishes regarding the distribution of their assets and property after passing. It is an essential component of a comprehensive estate plan.
There are two main types of testaments: a last will and testament and a living will or advance directive. A last will and testament provide a clear and certain outline of how the testator (the person making the will) wants their estate, including real property, possessions, and investments, to be divided among designated beneficiaries upon their death. It also specifies who will serve as the executor, responsible for carrying out the terms of the will, giving you reassurance and confidence in your decisions.
On the other hand, a living will or advance directive is a testament that describes an individual’s preferences for medical treatment and end-of-life care should they become incapacitated and unable to communicate their wishes. It’s a testament of your responsibility and thoughtful consideration for the future, showing your care and consideration for your loved ones.
Creating a testament, whether it’s a last will and testament or a living will or advance directive, is a proactive step towards ensuring that your final wishes are respected and carried out. This not only provides peace of mind but also minimizes potential conflicts or legal disputes among surviving family members or beneficiaries.