A will is a legal document that outlines how a person's assets will be distributed after their death. It can also include instructions for the care of minor children and the appointment of a guardian. An estate is all of a person's assets, including real property, personal property, and financial accounts. When a person dies, their estate is administered according to their will or, if they did not leave a will, according to the laws of the jurisdiction in which they lived (intestate succession laws). The process of administering an estate is called probate.
WHO IS RESPONSIBLE FOR CREATING WILL?
The person who makes a will is called the testator. The testator has the responsibility to make decisions about how their assets will be distributed after their death and to ensure that their will is valid according to the laws of their jurisdiction. This typically involves choosing an executor to manage the distribution of the assets, specifying the distribution of specific assets, and specifying any special instructions, such as the appointment of a guardian for minor children. It is important for the testator to regularly review and update their will to ensure that it reflects their current wishes and complies with any changes in the law.