What Does a Will Do?

A will, formally known as a last will, is a legal document that outlines your wishes regarding the distribution of your assets after your death. It serves as a roadmap for how your property, possessions, and finances should be distributed among your beneficiaries. Here are some key characteristics of a will: 
Asset Distribution: A will specify who will receive your assets, such as real estate, personal belongings, investments, and cash, and in what proportions.
Executor Appointment: In your will, you can appoint an executor responsible for carrying out your wishes as stated in the will. The executor manages your estate, pays off debts, and distributes assets to beneficiaries.
Guardianship for Minors: If you have minor children, your will can also specify who will become their legal guardian in the event of your death.
Simplicity and Cost: Creating a will is usually a straightforward and cost-effective process, especially for individuals with relatively simple estate planning needs.

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