A will is a formal expression of your wishes for the disposition of your assets, plans for your children, and the disposition of your remains following your demise. When drafted and executed properly, a will not only allows you to designate who receives the property you own upon your death, but also how that property is to be received. Property can be received directly, or it can be kept in testamentary trust for the benefit of your heirs, permitting you to retain some control over the property beyond your lifetime. A will can also determine who administers your probate estate and who manages any trust established in your will.