A will or testament is a legal document by which a person, the testator, expresses their wishes as to how their property is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution. For the devolution of property not disposed of by will, see inheritance and intestacy.
Though it has at times been thought that a "will" was historically limited to real property while "testament" applies only to dispositions of personal property (thus giving rise to the popular title of the document as "Last Will and Testament"), the historical records show that the terms have been used interchangeably.[1] Thus, the word "will" validly applies to both personal and real property. A will may also create a testamentary trust that is effective only after the death of the testator. Wikipedia
1) You decide how your estate will be distributed.
2) You nominate a guardian to take care of your minor children.
3) You avoid a lengthy process to wind up the estate.
4) Minimize Estate Duty.
5) You decide who will be appointed as the executor of your estate.
6) You can disinherit individuals who would otherwise stand to inherit.
7) You can ensure that the estate is properly funded.
8) You can update your will anytime that life circumstances change.
9) You can stipulate your burial preferences.
10) You protect your assets for your beneficiaries.