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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 ?
"And now, Master Billy Bones, if that be your name, we'll have a look at the colour of your blood.
"'England expects everyone to do his duty.' That's our motto--only we'll put Prince Edward Island in place of England.
"Of course we'll have one," I said, "and Dan will edit it."
"Well, we'll go ahead then," I said, with a sigh of relief that the project had been so easily launched.
'We're not happy with the 2-5 record, but we just need to get to the top eight and we'll work from there,' said Santos in Filipino Sunday at Smart Araneta Coliseum.
LYRICS by Alan Millen and Tim Readman We are the men of Newcastle United To Flanders we're ready to go Heeding the call from Lord Kitchener Together we'll challenge the foe In fields where red poppies grow From playing field to battle field As pipers play and church bells peal As long as the home fires burn As long as the union jack's flying We are the comrades who march off to war Believing one day we'll return 2.
Islamabad -- 'We'll not become threat for the government of Imran Khan', said Pakistan People Party's (PPP) leader and former leader of the opposition in National Assembly Khursheed Shah.
In India - where people forward more messages, photos, and videos than any other country in the world - we'll also test a lower limit of 5 chats at once and we'll remove the quick forward button next to media messages.
Trainer Jim Goldie said yesterday: "We'll try to get him back for next year's Ebor but I'd say he's doubtful for it and it'll probably be a 50-50 call.
We'll optimize the way the game handles the movement of opponents who you can't see.
Talking about reformation of health system, Khan said, "We'll reform the health system of Pakistan.
"We'll have to change a lot of things to be on top of the game next week in Russia.

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