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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 ?
Mrs Aiyepola at a press conference explained that WillPower service is available 24/7 online at www.willpower.ng, adding that it is secured and accessible, thus enabling anyone to easily write a will, right where they are.
Two large experiments conducted by Texas A&M University researchers and published late last year once again found evidence that using your willpower once leaves you with less of it for the next round.
5 If you're worried your willpower may break, take a smokefree alternative to cigarettes with you instead.
These types of habits strengthen one's willpower and help make humans stronger, more secure and stable, and the master of one's own self.
He said: "We go out together on weekends, so if Chris isn't smoking, it's one less temptation and we can support one another if our willpower is dwindling."
Stress is very dangerous; it depletes willpower. That's why people are more likely to drink themselves into a stupor, when they have money or relationship problems.
Studies have shown that when we feel good, we also have stronger willpower. So why not reward yourself after a week of exercise to a spa day?
So if your actions are not a result of willpower, determination, or controlling your attitude and feelings, then what is at the heart of your actions?
If the wage premium exists, holding constant measurable skills such as grade point average (GPA) and standardized test scores, do athletes possess other noncognitive skills that are valued by the market such as willpower, determination, competitiveness, and teamwork?
2 Be imaginative Visualising yourself achieving your goal is a great tool in strengthening your willpower. Studies have shown that spending time each day picturing yourself at your ideal weight is a great way to encourage your mind and body to work together.
However much desired or well-intended, the process to developing willpower to benefit your professional and personal life can seem impossible, especially when faced with difficult situations, coercion, or pressure from others, toxic relationships, and certainly addictions of any sort --but taking the initial steps to develop and maintain a strong will and self-discipline can be life changing.
Employing a fitness metaphor apropos to an Olympic year, the authors liken willpower to a muscle that can be strengthened through exercise but can be fatigued with vigorous short-term use.