A person's declaration to his wishes to dispose of property after his death, is called:

A person's declaration to his wishes to dispose of property after his death, is called:

• A. A will
• B. Annuity
• C. A deed
• D. A trust

Answer: (A)

Disposing of property after death is handled by a will, a legal document that expresses how a person wants assets distributed and who should manage the estate when they pass away. A will takes effect at death and typically goes through probate to ensure the instructions are followed, naming beneficiaries and an executor, and sometimes guardians for minor children. An annuity is a financial product that provides income, not a plan for distributing property after death. A deed transfers title to property during the owner’s lifetime and is generally not used to direct posthumous distributions. A trust is a mechanism for holding and managing property, which can be created during life or at death (via a testamentary trust), but the basic request—specifying how property should be disposed of after death—is most directly accomplished by a will.

Disposing of property after death is handled by a will, a legal document that expresses how a person wants assets distributed and who should manage the estate when they pass away. A will takes effect at death and typically goes through probate to ensure the instructions are followed, naming beneficiaries and an executor, and sometimes guardians for minor children.

An annuity is a financial product that provides income, not a plan for distributing property after death. A deed transfers title to property during the owner’s lifetime and is generally not used to direct posthumous distributions. A trust is a mechanism for holding and managing property, which can be created during life or at death (via a testamentary trust), but the basic request—specifying how property should be disposed of after death—is most directly accomplished by a will.