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A will, or last will and testament, is a legal document that specifies how a person's assets will be distributed after their death. The depiction of will readings in movies often exaggerates reality, typically showing family conflicts while a lawyer reads the deceased's wishes. However, having a will is crucial for ensuring that your desires are fulfilled regarding asset distribution and can help avoid costly legal fees. Without a will, assets are allocated to the next of kin according to state law, which may not align with the deceased's preferences. Understanding the importance of wills can empower individuals to manage their affairs effectively.