Last Will and Testament: Definition, Types, and How to Write One
A last will and testament is a legal document that communicates a person's final wishes pertaining to their assets. It provides specific instructions about what to do with their possessions. A will and last testament directs the disposition of your assets, such as bank balances, property, or prized possessions. Any property that your will directs should go to certain beneficiaries, whether people or organizations, most likely will be tied up in probate court for months before it can be distributed according to your wishes. The four main types of wills are the simple will, the joint will, the testamentary trust will, and the living will. Wills and trusts are both important estate-planning tools, but they differ in important ways.
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