What is a legal instrument used to dispose of funds and property after death?

A will serves as a legal instrument designed to specify how a person's assets, funds, and property are to be managed and distributed after their death. It outlines the testator's wishes regarding the distribution of their estate, naming beneficiaries who will receive specific properties or assets, and often appoints an executor to ensure that the terms of the will are carried out in accordance with legal requirements.

In contrast, a trust is generally used during a person’s lifetime to manage their assets and may also address distribution upon death, but its primary function is different from that of a will. A contract is a legally binding agreement between parties but does not govern the distribution of property after someone has died. A deed is a legal document that transfers ownership of property from one party to another, typically used while the individual is alive rather than addressing posthumous distribution. Thus, the will is the most direct instrument for designating the disposition of a deceased person's estate.