A will is an estate-planning document outlining the legal rights others will have over one’s property after their death.
The will may include rights distribution/transfer of all or some of the property owned or controlled by a person, and may consist of financial assets including bank and insurance accounts, tangible personal assets, immovable property and intellectual property.
Writing up a will is a part of estate planning during a person’s lifetime that distributes their estate upon death. A will is vital to avoid disputes among those left behind with a claim to the person’s assets/estate.
A will is preferably drawn up with the help of legal, financial and taxation experts.
End-of-life medical instructions, arrangements of burial or posthumous wishes may also get included in a will.