Last Will and Testament
What is a Last Will and Testament?
A will or a "Last Will and Testament" is a document in which you describe exactly what you want to happen to your goods and assets after you die. To be valid, a will has to be drawn up correctly and signed by you and two witnesses at the same time.
Your will is part of your estate's overall financial management plan. Should you die intestate (without a valid will), your assets can go people you never intended to benefit - and the process can take very long. A clear Last Will and Testament ensures that, after your death, your assets are distributed according to your wishes. It is best to have your will drawn up professionally. This can be done by a lawyer, your insurance company,
your bank or a trust company. In your will you must stipulate an executor which, in the case of a very simple estate, could be a family member.
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