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A last will is a public document outlining asset distribution after death, created by a testator. Beneficiaries are those receiving assets, while an executor administers the estate. Creating a last will ensures that assets are allocated according to your wishes, allowing for specific distributions among beneficiaries. In South Carolina, a valid will must meet certain requirements: the testator must be at least 18 years old and of sound mind, and the will must be in writing. Holographic wills, or handwritten wills, are also recognized in the state.