What term describes legal documents stating how assets should be distributed after death?

• A. Wills
• B. Simple Will
• C. Living Will
• D. Testamentary Trust Will

Answer: (A)

A will is a legal document that spells out how a person’s assets should be distributed after death. It lets someone name who gets property, designate an executor to handle the estate, and often appoint guardians for minor children. This directly answers the idea of distributing assets after death. A Living Will, by contrast, deals with medical treatment preferences if a person is incapacitated, not with distributing property. A Simple Will is just a straightforward version of a will, still serving the same purpose of asset distribution. A testamentary trust will creates one or more trusts as part of the will’s provisions, but it remains a type of will focused on how assets are managed after death.