Wills and Living Wills
A will takes effect when you die, and allows you to:

• select executors (manage the probate/succession, make sure the terms of the will are followed)
• appoint tutors (called guardians in most states; responsible for raising and caring for children) for minor children
• choose your legatees (who will receive your assets when you die)
• establish a trust in which you may appoint trustees to manage the inheritances of the beneficiaries

Living Wills
 
A Living Will concerns end of life decisions and enables you to decide if you wish to receive life-sustaining treatments in the event you are terminally ill or injured, including whether you wish to be provided food and water through artificial means.