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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 periodicals archive ?
An overwhelming 86% said they are open to the idea of taking drink-free days and 20% said they would be willing to avoid always having alcohol in their home.
"Physicians are willing to accept some risk for participating in ACOs but first want to know if it will impact their relationships with patients and how their progress will be measured," said Tony Barge, president of RNA Search Inc and executive.
The survey also showed women were more willing to have a relationship with someone 10 years older, at net +26 (54 percent willing, 28 percent not willing) compared to men at +10 (43 percent willing, 33 percent not willing).
Among men, willingness to be with someone 10 years younger was highest among those aged 25-34 (53 percent willing, 26 percent not willing) and those aged 35-44 (54 percent willing, 27 percent not willing), both at +27, followed by those aged 45-54 at +20 (49 percent willing, 29 percent not willing), those aged 55 years old and above at +16 (47 percent willing, 31 percent not willing), and those aged 18-24 at a negative net -14 (31 percent willing, 45 percent not willing).
For his part, Ghani said his country is willing to deepen pragmatic cooperation with China, expand trade and increase personnel training.
Acknowledging that that there was a 300 billion won lawsuit still ongoing between BHC and BBQ, Park said he was willing to concede to BBQ within the bounds of his duty as CEO.
"Abel was totally there for Selena though and he immediately told her that if he is a match he would totally be willing to donate one of his kidneys.
"The majority of caregivers of children with food allergy were willing to consider enrolling their child in a clinical trial for allergen immunotherapy," the authors write.
The overwhelming majority (76%) said they were not "willing to lose any money at all".
Global Banking News-August 31, 2016--Survey says older millennials willing to pay for mobile banking apps