What is a will?

• A. A plan for paying monthly expenses.
• B. A document that appoints a guardian for pets.
• C. A formal agreement to marry.
• D. A legal document stating how assets should be distributed after death.

Answer: (D)

A will is a legal document that specifies how a person's assets should be distributed after death. It names beneficiaries and outlines how money, property, and other possessions should be passed on. While a will can include guardianship provisions for minor children and may address pet care in some cases, its main purpose is to direct the transfer of assets. The other descriptions describe budgeting for monthly expenses and a formal agreement to marry, which are different kinds of arrangements and not about how assets are handled after death.