A Regular Will has nothing to do with
a Living Will, which is not anything like
a Living Trust, which is just another name for
a Revocable Trust, which is totally different from
an Irrevocable Trust, which can cause tax breaks or disasters, same as
an Insurance Trust which can make life insurance tax free, but is not
a "QTIP" Trust, which doesn't contain cotton but can protect assets, something like
a Credit Sheltered Trust, which is the same as
an "A-B" Trust and a Bypass Trust, and which can hold
an IRA Trust, which gives pensions to others if you don't spend it all, but needs
a Designation of Beneficiary form set up a particular way, and thus, isn't
an Insurance Designation of Beneficiary form, which can be changed under
a Financial Power of Attorney, if you're disabled but has nothing to do with
a Healthcare Power of Attorney, which takes the place of
a Living Will, which isn't ever
a Simple Will, because if you have assets and you're worried, nothing is simple. |