A Last will and testament is an old fashioned way of saying "will." Will and testament mean the same thing. It is deemed to be the "last" will if the maker of it dies before writing a new document.

A Last will and testament is a document used to show an individual’s financial, property, and family intentions once dead. In a Last will and testament, a person leaves directives for how their assets should be distributed to surviving beneficiaries. When a Last will and testament is produced in accordance to the law in which the creator resides, a Last will and testament becomes a legal and binding document, once signed and witnessed. The person who creates a Last will and testament is called a testator.

As well as stating the testator's wishes after death, a Last will and testament can be used to appoint legal guardians for minor children (under 16) of the testator. If you don’t have a Last will and testament, a court will decide who care for the testator's children if both parents are dead.

If you are18 or over anyone can create a Last will and testament. You may choose to use an attorney to create your Last will and testament. However, legally you don’t have to use an attorney to create a Last will and testament and sometimes people decide to create their own Last will and testament without legal advice.

For a Last will and testament to be legal, it needs to meet the appropriate legal requirements. The testator has to identify himself as the creator of the Last will and testament and signify that the record being created is a Last will and testament. Including the words "Last will and testament" on the document, and the testator's full name, will fulfill this prerequisite.

A statement revoking any previously made Last will and testaments must also be included. If this statement is not included, any previous Last will and testament may be considered legal, unless they are totally inconsistent with the new Last will and testament. It must also state the new Last will and testament revokes any previous codicils or additions made to previous Last will and testaments.

A Last will and testament must also indicate that the testator has the mental capacity to create the Last will and testament. This is satisfied by including wording intended to make evident the testator is of sound mind. Typically, the wording is sited towards the start of the Last will and testament.

Furthermore, the testator must sign and date the Last will and testament in the presence of at least two witnesses. Witnesses can’t be beneficiaries of the Last will and testament. The testator's signature is sited right at the end of the document. Anything that follows the testator's signature is regarded as not being a part of a legal Last will and testament. It is not unknown that, the very presence of text after the signature can invalidate the entire Last will and testament.

It’s very important to learn the requirements for making a Last will and testament, before considering creating one. There are kits and books available in helping to learn the specific legal requirements for creating a Last will and testament.

The Last will and testament should be laid out in paragraphs numbered in sequence after an initial paragraph which confirms the nature of the document. If you are a woman without an occupation, your status (married woman, widow, etc.). The first words of each paragraph should be in block capitals and underlined.

It’s recommended you get out your Last will and testament to check it regularly, especially if you circumstances change such as get married, divorced, have children, etc.

Last will and testament is not regulated by the Financial Services Authority and is available on a referral basis through a preferred specialist supplier of Frog Financial Management and not First Complete Ltd. Frog Financial Management is not responsible for the advice given.