A legally enforceable declaration of how a person wishes his or her property to be distributed after death. In a will, a person can also recommend a guardian for his or her children.

Also known as a "will and testament".


Making a will is a very important component of estate planning. In it you declare who gets your belongings and assets when you die. If you do not have a will, the distribution of your property is left up to the government, and may even end up becoming state property. A will helps ensure that your wishes are carried out, and it can make things simpler and easier for your heirs.

  1. IRA Asset Will

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  2. Executrix

    A female individual who is responsible for executing the provisions ...
  3. Last Will And Testament

    A legal document that communicates a person's final wishes, as ...
  4. Living Trust

    A property interest created during a person's life that allows ...
  5. Guardian

    An individual who has been given the legal responsibility to ...
  6. Estate Planning

    The collection of preparation tasks that serve to manage an individual's ...
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  1. How does the trust maker transfer funds into a revocable trust?

    Once a revocable trust is created, a trust maker transfers funds or property into the trust by including them in a list with ... Read Full Answer >>
  2. What happens when a will and a revocable trust conflict?

    A revocable trust, by nature, is a living trust established during the life of the grantor; by definition, it can be changed ... Read Full Answer >>
  3. What should I consider when I select an executor for my will?

    The executor of a will is the person designated with the task of administering the will's instructions. The responsibilities ... Read Full Answer >>
  4. Can I put my IRA in a trust?

    You cannot put your IRA in a trust while you are living. You can, however, name a trust as the beneficiary of your IRA and ... Read Full Answer >>
  5. What is the difference between a revocable trust and a living trust?

    A revocable trust and living trust are separate terms that describe the same thing: a trust in which the terms can be changed ... Read Full Answer >>
  6. What is a family Limited Liability Company (LLC)?

    A family limited liability company (LLC) is formed by family members to conduct business in a state that permits such form ... Read Full Answer >>

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