Will & Testament
June 18, 2009 in Wills and Trusts
A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his or her estate and provides for the transfer of his or her property at death. For the devolution of property not disposed of by will, see inheritance and intestacy. In the strictest sense, a “will” has historically been limited to real property, while “testament” applies only to dispositions of personal property, though this distinction is seldom observed today. A will may also create a testamentary trust that is effective only after the death of the testator.
