Northwest Strategy Planning

1. A trust is more permanent than a living sill.

2. A living will only be used for health care decisions, while a trust can also be used for other purposes.

3. A living will be created while you are still alive, while a trust can be created after you die.

4. The person creating the living will is called the “testator,” while the person creating the trust is called the “grantor” or “settlor.”

5. A trustee must be appointed to manage a trust, while no trustee is necessary for a living Will.

6. A living will takes effect when you die, while a trust takes effect when it is created.

7. A trust can be revocable or irrevocable, while a living will is always revocable.

8. A trust can provide for the continued support of your family after your death, while a living will cannot.

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