Your Will is the legal document that lets you, the testator (or person making the Will), designate beneficiaries to receive your personal and real property when you pass away.
A beneficiary may be an individual person, a group of people, or even a favorite charity, but ultimately these named parties will be the ones receiving your assets as you see fit.
A Will also allows you to name a guardian to care for minor children. The main purpose of a Will is to ensure that your wishes will be followed upon death, instead of just going by the Laws of your state of residency.
Trust Agreements can