What is a last will and testament?

What is a last will and testament?

A will or last will and testament, is a legal document that provides instructions for what should happen to a person’s assets after his or her death. This term “last will and testament” is commonly used to mean the same thing as a “will”, but to be exact, a last will and testament refers to the most recent version of a will. A will is commonly used to distribute a personal property, real estate, investments or business interests. It may also be used to appoint legal guardians. If a person dies without a will, they are said to be intestate, and state intestacy laws govern the distribution of the property of the person who passed.

A will is just one way of handling estate planning. In some cases a trust or living trust may be a better option for you since it can allow your beneficiaries / heirs to avoid the probate process. If you are trying to decide how to provide for the distribution of your assets or care of your children after you die or need legal assistance, you should contact a lawyer for guidance.