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A will, or last will and testament, is a legal document outlining the distribution of a person's assets after their death. The reading of a will, often depicted in movies with dramatic family confrontations, doesn't reflect real-life procedures. Having a will is crucial for ensuring that your wishes are honored and can help avoid additional expenses, such as hiring an attorney. It's essential to understand that assets need to be allocated after a person's death; without a will, these assets typically go to the next of kin according to prescribed laws. Overall, wills should not be seen as intimidating but rather as vital tools for asset management and family peace.