will preparation
/ˈwɪl prɪpəˈreɪʃən/ · wil.pre.pə.RAY.shun
noun
- The process of creating or updating a will, including gathering assets, naming beneficiaries, and selecting an executor. The lawyer spent several hours with the client to prepare her will, ensuring that her wishes were clearly stated.
noun
- The documents and information required to support the creation and execution of a will, such as asset valuations and beneficiary statements. The will preparation package included a comprehensive list of the deceased's assets and liabilities.
verb
- To create or update a will, including gathering assets and naming beneficiaries. The family hired a lawyer to help them prepare their wills and ensure that their wishes were respected.
Did you know? The term 'will preparation' is often used in conjunction with the concept of 'estate planning,' which involves creating a comprehensive plan for managing one's assets and wishes after death.