A Will is a legal document which becomes enforceable only after you die. During your lifetime, every time you make a new Will you revoke any prior Will. Some of the matters included in your Will are: nomination of your executor (the person who marshals all of your estate assets and then distributes them per your Will) and a trustee, if applicable; gifts of personal property, money, real property, or charitable donations. The residuary clause is where any remaining dispositions are addressed.
If you have minor children, the issue of guardianship of those children in case of your demise is also discussed. While the Court has final say over guardianship, it is important to state your wishes and recommendations for who that guardian should be and why.