A will is a legal document that specifies how a person's assets will be distributed to their heirs after death. It provides guidance for handling the estate, helping to prevent disputes among beneficiaries. A will may include instructions for decisions after death, like the appointment of an executor of the will, guardians for minor children, or funeral arrangements.
Wills must be signed and witnessed according to state law and filed with a probate court. The probate court oversees the distribution of assets and can handle any disputes. Since probate is a public process, anyone can access the details of the will. Individuals can revise a will multiple times as personal or financial situations evolve or change.
If you die without a will, your estate will be subject to intestacy laws, meaning the court will decide how your assets are distributed, typically favoring close family members. A probate court will appoint an administrator to manage the estate and distribution of assets. Following common law, the property commonly goes to a surviving spouse first, then to children, extended family, and descendants. If no family exists, the property typically reverts to the state.
A will can also include provisions for creating a trust or appointing a trustee to manage assets for beneficiaries, particularly minor children.