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 classic literature ?
So you'll manage to get that little sum o' money, and I'll bid you good-bye, though I'm sorry to part."
And you've got a good-natured brother, who'll keep your secret well, because you'll be so very obliging to him."
"Yes, Davy, and I hope you'll be always very nice and good to her."
"All your life, Davy, you'll find yourself doing things you don't want to do."
You'll throw your Mound (the little Mound as comes to you any way) into the general estate, and then you'll divide the whole property into three parts, and you'll keep one and hand over the others.'
You'll leave me in sole custody of these Mounds till they're all laid low.
"You'll have your children wi' you; an' there's the lads and the little un 'ull grow up in a new parish as well as i' th' old un."
"You'll excuse me, sir," he said, when this pause had given him time to reflect, "for running on in this way about my own feelings, like that foolish dog of mine howling in a storm, when there's nobody wants to listen to me.
"I'll tell you what I have in my head, sir," he said, "and I hope you'll approve of it.
He's a slippery cuss and you'll have to watch him."
"You'll find my mortgage for thirty-seven hundred in my box at the bank.
Why should you --even if you do for a few years you'll have to leave it sometime, and there's nothing that goes to rack and ruin as quickly as a farm--even one like this."

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