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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


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.


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 classic literature ?
She ain't no beauty-- her face is all eyes; but if she ever grows up to them eyes an' fills out a little she'll make folks stare.
Cobb, that it made you have lumps in your throat to look at her.' She'll be comin' over to see you, mother, an' you can size her up for yourself.
But I put it upo' your conscience, Master Marner, as there's one of 'em you must choose--ayther smacking or the coal-hole-- else she'll get so masterful, there'll be no holding her."
And she's got no tricks but what she'll grow out of."
"Maybe he won't go to church at all the first Sunday and she'll have to go alone," said Peter.
'Frances is quite right: she'll be perfectly well by this time next week.
She'll be playing the lead, a rebellious girl who is enamoured by all things glam and wants a new life for herself; she'll be starring alongside Omer Shahzad.
You want to be able to confide in her about anything so I think you have to be very grown up here and tell her because, if you don't, she'll find out eventually.
Paolo Benigno 'Bam' Aquino IV, Queen of All Media Kris Aquino, for the nth time, shot down all rumors she'll be a senatorial candidate.
The thriller doesn't have a release date yet, but she'll play a character called Dr.
But it seems the Mick Carter actor's co-stars aren't buying it and have started a secret sweepstake betting on if she'll have sex, when she'll have her first snog, when she'll be booted off the show, and how long it will take her to mention her famous dad.
We think she's progressed and that she'll run a good race, although she'll appreciate longer distances as the season goes on."

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