Define: Will

UK Accounting Glossary

Definition: Will


Quick Summary of Will


A document giving directions as to the allocation and disposal of a person’s property after death.




What is the dictionary definition of Will?

Dictionary Definition


A document giving directions as to the allocation and disposal of a person’s property after death.

It has no effect until the testators death, and may be altered as many times as the person wishes.

To be binding, the Will must be executed in accordance with statutory formalities. It must be in writing, signed by the testator or at the testator’s direction and in the testator’s presence.

It must appear that the signature was intended to give effect to the will (typically the will is signed at the end, close to the last words dealing with the property).

The will must be witnessed by two persons, who must also sign the will. However, the witnesses must not be beneficiaries.


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https://payrollheaven.com/define/will/
Modern Language Association (MLA):
Will. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 17, 2019 https://payrollheaven.com/define/will/.
Chicago Manual of Style (CMS):
Will. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/will/ (accessed: November 17, 2019).
American Psychological Association (APA):
Will. PayrollHeaven.com. Retrieved November 17, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/will/

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This glossary post was last updated: 5th May 2019.