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Wills At A Glance
A will is a written document that directs how a person's assets and possessions are distributed at the time of that person's death.
- Estate is a legal term for the things that a person owns (assets and possessions), and includes two parts: personal property and real property.
- Personal Property is a person's belongings, such as clothing or jewelry.
- Real Property is land or buildings.
Historically, a Will was called a "Last Will and Testament" because a person's Will distributed a real property and a person's Testament distributed personal property. Today, the term "will" covers both types of property in one document, and is usually referred to as a "Will" except in some legal documents, where it can still be called a "Last Will and Testament."
Dying with a will
Drawing up a will allows a person to control how his or her property is divided at the time of the person's death.
Dying without a will
If a person dies without a will, the laws of the State will control how his or her property is divided.
Everyone should have a will
A person does not need to be wealthy or own property to have a will. Everyone over 18 should have a will so that, after death, their property and possessions will be distributed in the way they would prefer.
Changing a will
A person's will should change during the different stages of life. A will should be updated if a person:
- Marries;
- Divorces;
- Has a child;
- Any other time a person believes he or she has experienced a major life change.
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