A will is a legal document in which a person designates who will receive his assets at death. A will designates an executor to carry out the will’s instructions and names the guardians of the minor children, if any. Assets that are co-owned pass to the co-owner outside of a will. As well, assets with named beneficiaries such as retirement accounts, life insurance policies, or trusts pass to those beneficiaries outside of a will. Browse estate planning books and software.
Legal Requirements for Creating a Will
Each state has different statutory requirements for the creation of a will. Click below to learn more about the will requirements in your state.