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A will is a legally binding document that details how a person wants their possessions (money, real estate, personal belongings, and any other tangible assets) to be distributed after their death. With a properly-executed will in place all solely-owned property can and will be distributed as per the wishes of the decedent. Should someone die without a will, the laws of the state in which the decedent passed will determine how the assets of the estate will be distributed and to whom (state laws vary greatly and so one cannot presume that if they die without a will…in testate…they're possessions will automatically fall to their surviving spouse and/or children.) A will isn't necessary to distribute jointly-owned assets—such as a house owned by spouses, for example—as in most cases that property automatically becomes wholly owned by the survivor upon the passing of the decedent. A will can also serve to name guardians for minor children (those who will take care of the children as well as safeguard any inheritance until those children reach their legal majority). Continued... By Michael Willis