In common parlance, the word will refers to the desire of something. In legal terms, it is somewhat similar. A will is a document which reflects the desire of an individual with regards to his property and assets. Such desire needs to be executed by a third person, after the death of the individual. Therefore, in brief, a will is a document that reflects the status of an individual’s properties and assets, after their death.
Common terms associated with Will are as follows:
- Testator: The author, or the person who is drawing/signing the will. The assets and properties dealt by a will, belong to the testator.
- Executor: An executor is a person, living or statutory, who execute a will, or makes sure that the desires of the deceased are performed as mentioned in the will.
- Probate: It refers to the certified copy of a will, with a seal of a competent court.