Will

What does it Mean? 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".
Investopedia Says... 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.

Terms Related Links

Beneficiary
Bequest
Escheat
Estate Planning
Guardian
Heir
Inheritance
Letter Of Intent - LOI
Pour-Over Will
Will Variation

Terms Related Links
What Is A Will And Why Do I Need One? - Putting this document together will save your family time and money, and give you peace of mind.

Reasons To Review Or Revise Your Will - Drafting a will and locking it away for good could negatively affect your beneficiaries.

Six Ways To Lose Your Estate - Find out why you shouldn't put off putting your affairs in order.

Estate Planning Basics - Deciding what will happen to your assets when you pass away is a must - no matter how wealthy you are.

Getting Started On Your Estate Plan - With some preparation, you can save your heirs from paying a hefty estate tax. Here are some tips.

Update Your Beneficiaries - Life changes make it time to rewrite your plan's designations.

Six Estate Planning Must-Haves - A store-bought will might not cut it - learn what you need to have in yours.

Skipping-Out on Probate Costs - Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.

The Importance Of Estate And Contingency Planning - What would happen if you were suddenly unable to manage your financial affairs? Preparation is the best protection.

Inherited Retirement Plan Assets - Part 1 - If you're a beneficiary of a retirement account, you should know your distribution options.

What should I consider when I select an executor for my will?




add investopedia foot
www.investopedia.com