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A will, or last will and testament, is a legal document that outlines the distribution of a person's assets after their death. It is commonly depicted in media, often showcasing family disputes over inheritance during readings. In reality, having a will is crucial for ensuring one's wishes are respected and can help avoid costly legal fees. Without a will, assets are distributed according to state laws, typically going to next of kin. Understanding the importance of wills can demystify the process, making it less intimidating and highlighting its role in asset management after one’s passing.