Will

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Will

A document stating how and to whom a person wants his/her property transferred after death. In addition to transferring property, a will may specify how certain responsibilities are to be performed. For example, a will may state who shall take care of the decedent's minor children, how they are to be educated, and so forth. A court must enforce the provisions of a will unless there is some overriding legal reason for it not to do so. Many advisers recommend writing a will to ensure that the writer's wishes are carried out.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Will.

A will is a legal document you use to transfer assets you have accumulated during your lifetime to the people and institutions you want to have them after your death.

The will also names an executor -- the person or people who will carry out your wishes.

You can leave your assets directly to your heirs, or you can use your will to establish one or more trusts to receive the assets and distribute them at some point in the future.

The danger of dying without a will is that a court in the state where you live will decide what happens to your assets. Its decision may not be what you would have chosen, and its deliberations can be costly and delay settling your estate.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

will

An instrument by which a person directs the disposition of assets after death.At one time the term will referred to disposition of real property, and a testament was a disposition of personal property,hence the expression “last will and testament.”Today,will covers all properties. See also holographic will (handwritten), nuncupative will (oral), intestate succession (dying without a will), and escheat (dying with no will and no heirs).
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
"There may also be some immediate things we can do to kind of slow it down," Willer says.
"We explored the relationship in follow-up analyses and found that this association was not mediated by either political ideology or past levels of charitable giving," Willer said.
Chuck Willer of Corvallis is the executive director of the Coast Range Association.
Willer and Kristian Hveem of the Norwegian University of Science and Technology suggested the same gene may also be involved in regulating lipid levels in the liver.
Willer's comments, the group enjoyed a delicious dinner.
Willer delivered testimony on rising compliance costs at a House subcommittee field hearing in Wisconsin in October in which he listed specific actions his credit union has had to take in response to regulations.
Willer theorizes that accidents at this level of competition are caused primarily by players watching the puck instead of what is in front of them--of not playing "heads-up," which coaches try to instill at all levels.
Robert Willer, for Mrs Mason, told the High Court in London that she had agreed to pay back Mr White.
Theories of network exchange investigate "structural power conditions," which are contingencies across connected relations which affect the distribution of payoffs in exchange networks (Willer, 1999).
Congratulations to Melissa Best of Springfield, Mo., a student at CoxHealth School of Radiologic Technology; Amanda Garlock, of Renton, Wash., a student at Pima Medical Institute; Oluwatosin Kayode, of Memphis, Tenn., a student in radiation therapy at Arkansas State University; Jennifer Willer, of Grayson, Ga., a student at Dekalb Medical Center; Jordan J.
Cornell's Robb Willer gave more than a hundred Cornell undergrads a gender identity survey and then randomly told them their responses indicated they had a masculine or feminine identity.
USC plans to go online with the program in the fall and have it fully operational, tracking all 1,403 international students, by next summer, said Patricia Willer, USC's director of international programs for students.