A will, also known as a last will and testament, is a legal document that expresses a person's wishes as to how their property and assets should be distributed after their death. It also allows for the designation of guardians for minor children.
Will
Definition
A will, also known as a last will and testament, is a legal document that expresses a person's wishes as to how their property and assets should be distributed after their death. It also allows for the designation of guardians for minor children.
Example
In your will, you might specify that your house goes to your spouse, your investments are split equally among your children, and your sister is appointed guardian of your minor child.
Key Points
- 1Legal document outlining asset distribution after death.
- 2Names an executor to manage the estate.
- 3Can designate guardians for minor children.
- 4Must be properly signed and witnessed to be valid.
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