Financial Glossary

Here you’ll find clear and concise explanations of key financial terms and concepts. Our goal is to help you better understand essential topics across the financial world.

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Featured
Withholding
Will

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Featured
Yield Curve
Yield

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Zero-Coupon Bond

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August Jepsen August Jepsen

Will

A will (or last will and testament) is a legal document that states how a person's property, assets, and personal affairs should be managed and distributed after their death. It allows the testator (creator) to nominate guardians for minor children or dependents and name an executor to oversee the distribution of their estate.​

A valid will must comply with state-specific legal requirements, usually including being written, signed, and witnessed by two individuals who are not beneficiaries. If a person dies without a will, their property is distributed according to intestacy laws, which may not match their wishes.

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