Are you ready to start your estate planning, and need to create the necessary documents? If so, you may be wondering what the differences are between a few of those documents. They are very confusing terms, so read on to learn more about how they provide different benefits.
You get to make your own medical decisions for most of your life, and it is usually not an issue when you need to go to the doctor or are in the hospital and need to decide on treatment. However, there may come a time where you are unable to make your own medical decisions on your own and need the help of someone else. This is where a living will come into play.
The purpose of a living will is to assign responsibility to an individual that you want to make medical decisions for you in case you are incapacitated. This is very important because they can be decisions that are a matter of life or death, such as if you should be kept on life support or not. You'll want to pick someone close to you that can make a rational decision rather than one that is based on emotions.
Last Will And Testament
A last will and testament is commonly referred to as just a will. It is a document that you create now, but it doesn't go into effect until after you pass away. The primary purpose of using a last will is to determine what happens to your belongings after you pass, specifically deciding who they go to. A last will and testament can be very general, leaving your estate to be divided equally among a group of people, or it can be very specific by deciding who will receive specific things. It can also be a combination of the two, by giving specific things to some people but being generic about everything else.
A trust is a bit different than using a will because a trust helps distribute your wealth to people, but with specific conditions put in place to control the distribution. For example, you can set up a trust so that money is distributed to a grandchild, but not until they reach a certain age. The items that you put into the trust belong to the trust, and you assign an executor as the person that carries out the rules that you set forth when creating the trust.
To learn more, contact estate planning services like Law Offices of Paolo Conte PLLC.
When you sell stock photography, there is always a risk that someone may use your image in a way that you didn't permit in the licensing agreement. When that happens, you need to protect your licensing rights. The best way to do that is to work with a copyright and licensing attorney. I've spent a lot of time researching fair use and licensing restrictions. I hope that the information here helps you to not only understand your rights as the creator but also to learn how to document and enforce those rights and seek legal resolutions when they are violated.