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A last will is a legal document for transferring assets after a person's death. The creator of the will is called the testator or grantor, while the recipient is the beneficiary. Different states have varying requirements for a valid will, but generally, a will is valid if executed by a person with testamentary capacity, is in writing, and is signed by two witnesses in the presence of the testator or at their direction. Testamentary capacity means the testator must be at least 18 years old and of sound mind when signing the will. Competency is assessed at the time of signing, and subsequent incompetence cannot invalidate the will. A sound mind typically means the testator understands the property involved, the beneficiaries, and the intended distribution plan.