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A last will is the primary document for transferring assets after a person's death. The person creating the will is known as the testator or grantor, while the recipients are called beneficiaries. Requirements for a valid will vary by state but generally include execution by a person with testamentary capacity, being in writing, and being signed by two witnesses in the presence of the testator or at their direction. Testamentary capacity requires the testator to be at least 18 years old and of sound mind at the time of signing, with understanding of the property involved, the beneficiaries, and the intended distribution plan. Subsequent mental incompetence does not invalidate a will.