Wills is the manifestation of the last desire by which an individual disposes, after death, in all or a part of his goods. Due to the fact that this free expression of will generate legal effects, the will is considered a legal business.
The four main components of a will are:
The purpose is the part of the testament where it will be designated who will administer all his goods after his death. It is in this part that decides who will manage their property, who should take care of their children or your pet, for example.
Consideration is the component where you will consider how the division of your material assets will be when you die. These assets may include commercial ventures, real estate, bank accounts, stocks and items with sentimental value.
The next component is the Executor, in it you must appoint someone to be your executor, ie, that person will be responsible for managing your property, executing your instructions and following the appropriate legal procedures after your death.
The Codicilo is the manifestation of your last will, in written form, where you can establish provisions to be fulfilled after your death, relating to your funeral, donations of small amounts of money, personal furniture, clothes or objects of small value.
