Many people confuse the terms, "Will," "Last Will," "Living Will," and "Living Trust." It's easy to confuse them because they look and sound alike. A living will is the legal document that you can use to state your wishes regarding whether you want medical procedures withheld or withdrawn if you are in a terminal and irreversible condition. A last will, also referred to as a will or last will and testament, is the legal document that you use to leave specific assets or your entire estate to certain people, designate your executor, and name guardians for minor children.