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Last Will and Testament

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Definition: A legal document that covers four important points after you die:

  1. Who will be in charge of your estate as your Personal Representative/Executor;

  2. What powers your Personal Representative/Executor will have;

  3. Who will inherit your property; and

  4. How your property will ultimately be transferred to your beneficiaries.
If you have minor children, your Last Will and Testament will also cover a fifth important point: Who will serve as the Guardian for your children until they become adults. If you die and have made a Last Will and Testament, then you haved died "testate." If you die without having made a Last Will and Testament, then you have died "intestate."

How to Open a Probate Estate

Also Known As: Last Will

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