A last will and testament is an estate-planning document that, among other things, describes and clarifies what you intend to do with your property when you die. Your will contains all of the important information about who will inherit your property. Your heirs may not know they are entitled to your property until you tell them by means of your will. Your will isn't required by any court or administrative body; it's a legal document that specifies how you want your assets to be distributed after you die. There are two main purposes for writing a will: first, so that your wishes can be fulfilled after you die; second, so that your family will know what to expect when someone dies without a will. The people who will benefit most from writing a will are those who have not done so already. If you own any real estate, make sure that you identify its current market value on the will. You should also include instructions for transferring ownership of this property to your heirs. If you have any stocks or bonds, list their names and addresses too. Include a statement indicating that these items belong to your heirs and should be transferred into their own names as soon as possible after your death. It is advisable to write your will before you lose interest in living. However, if you wait until then, there is no harm in doing so.