Last Will and Testament

What Is a Last Will and Testament? A last will and testament (commonly called a will) is a legal document that allows a person (the testator) to specify how their property and assets should be distributed after death, name guardians for minor children, designate an executor to manage the estate, and express other final wishes. A valid will must comply with state-specific formalities to be legally enforceable. ## Requirements for a Valid Will - The testator must be of legal age (typically 18) and of sound mind - The will must be in writing (most states do not accept oral wills) - The testator must sign the will voluntarily - The will must be witnessed by the required number of disinterested witnesses (typically two) - Some states recognize holographic (handwritten) wills without witness requirements ## What Happens Without a Will Dying without a valid will (intestate) means state intestacy laws determine how assets are distributed, which may not reflect the deceased person's wishes. Intestacy laws typically prioritize the surviving spouse and children, then parents and siblings. Having a will also simplifies the probate process and can reduce family conflicts. Wills should be reviewed and updated after major life events such as marriage, divorce, the birth of children, or significant changes in assets.