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Will or Testament, law

In the law, a will or testament is a documentary instrument by which a person regulates the rights of others over his property or family after his death. For the devolution of property not disposed of by will, see inheritance and intestacy. In strictness will is a general term whilst testament applies only to dispositions of personality, but this distinction is seldom observed.

The conception of freedom of disposition by will, familiar as it is in modern England and the United States, both generally considered common law systems, is by no means universal. In fact, complete freedom is the exception rather than the rule. Civil law systems often put some restrictions on the possibilities of disposal.

Some advocates for gays and lesbians have pointed to the inheritance rights of spouses as desirable for same-sex couples as well, through same-sex marriage or civil unions.

Though most people are aware that they need a will, many Americans (as high as 66% according to Consumer Reports) don't have one.

Estate planning is the process of accumulating and disposing of an estate to maximize the goals of the estate owner. The various goals of estate planning include making sure the greatest amount of the estate passes to the estate owner's intended beneficiaries, often including paying the least amount of taxes. Additional goals typically include providing for and designating guardians for minor children and planning for incapacity.

Disclaimer: This website should not be misconstrued as legal advice.  We are offering and organizing public information, as a public service, solely for educational purposes.  Should you want to investigate your legal rights individually or obtain legal advice, please contact a licensed attorney, or the attorney general of your state.