2. The Role of a Will in Property Inheritance
A will is a foundational document in property inheritance, as it gives the deceased (testator) control over how their assets are distributed after death. Without a will, the state’s intestacy laws take over, which may not align with the testator’s wishes—for example, excluding non-blood relatives like stepchildren or close friends. A valid will must meet specific legal requirements: the testator must be of sound mind, sign the document voluntarily, and have witnesses (the number varies by jurisdiction). In the will, the testator names an executor, who is responsible for managing the estate: paying debts, filing taxes, and distributing assets to beneficiaries. The will can also address special requests, such as setting up trusts for minor children or donating to charity. However, a will does not cover all assets—jointly owned property (with right of survivorship) and assets with designated beneficiaries (like life insurance) pass directly to the co-owner or beneficiary, bypassing the will. Creating a clear, legally binding will is one of the most effective ways to avoid inheritance conflicts and ensure one’s legacy is honored.