A will or testament is a legal document by which a person, the testator, expresses his or her wishes as to how his or her property is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution. For the devolution of property not disposed of by will, see inheritance and intestacy.
Though it has at times been thought that a "will" was historically limited to real property while "testament" applies only to dispositions of personal property (thus giving rise to the popular title of the document as "Last Will and Testament"), the historical records show that the terms have been used interchangeably. Thus, the word "will" validly applies to both personal and real property. A will may also create a testamentary trust that is effective only after the death of the testator.
Types of wills generally include :
Holographic will - written in the hand of the testator; in many jurisdictions, the signature and the material terms of the holographic will must be in the handwriting of the testator.
Self-proved - in solemn form with affidavits of subscribing witnesses to avoid probate.
Notarial - will in public form and attested by notary.
Mystic - sealed until death.
Reciprocal/mirror/mutual/husband and wife wills - wills made by two or more parties (typically spouses) that make similar or identical provisions in favour of each other.
In 1973 an international convention, the Convention providing a Uniform Law on the Form of an International Will, was concluded in the context of UNIDROIT. The Convention provided for a universally recognised code of rules under which a will made anywhere, by any person of any nationality, would be valid and enforceable in every country which became a party to the Convention. These are known as "international wills". Belgium, Bosnia-Herzegovina, Canada (for 9 provinces, not Quebec), Cyprus, Ecuador, France, Italy, Libya, Niger, Portugal and Slovenia. The Holy See, Iran, Laos, the Russian Federation, Sierra Leone, the United Kingdom, and the United States have signed but not ratified International wills are only valid where the convention applies. Most countries, especially in the developed world, are the signatories of the New York Convention. Consequently, judgements can be enforced across the world.
For individuals who own assets in multiple countries and at least one of those countries are not a part of the Convention, it is advised to have multiple wills, one for each country.