A living will is the term used for advance medical directives or your Directives to Physicians and Family or Surrogates. It has nothing to do with what happens after death. And it doesn’t have anything to do with your property. Instead, a living will is used for you to tell your doctors if you do not want extraordinary care at end-of-life.
A will, on the other hand, is a document that explains what you want to happen to your property after you die and who you want to be in charge.