A will includes instructions on what happens to your belongings. This includes money, real estate and heirlooms. It also includes investments, businesses, and other assets. A will includes any charities that will benefit. A will does not include life insurance policies. Those have their own beneficiaries spelled out, assuming these are still alive. in those situations, a will should mention what to do in those cases. A will also specifies the new guardian of any minor children. Wills can also specify what happens to your body in the event of your death.