When you make a will, the Will should specify that it is your last Will and that you revoke any previous Wills. It should appoint one or more persons to be your executor(s). Your Will should provide for payment of funeral expenses and any debts. It should then state how you want your property distributed, either by naming the item and to whom it is given, or by giving a person a certain amount or percentage of the total value of your property. If your Will contains specific gifts, it should also state what is to happen with the residue (remaining assets) of the estate.