last will and testament

Last will and testament refers to the document written and signed by a testator that details how their estate will be managed and distributed upon their death. A last will and testament specifically refers to the most recent or final version of a will. If a decedent does not leave a last will and testament, their assets will be administered by a probate court. Last will and testaments commonly name an executor to carry out the testator’s wishes, directions for the executor to distribute the rights or ownership over real property and personal property to beneficiaries, and can also be used to appoint legal guardians. 

[Last reviewed in May of 2025 by the Wex Definitions Team]

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