Your Last Will and Testament essentially allows you to speak after you have passed away. It has no effect while you are alive, but as soon as you die your Will serves two key purposes: it allows you to make key appointments (such as naming an executor) and it allows you to describe how you would like the assets passing through your Estate to be distributed. Not all of your assets may pass through your Will – it depends on how you own the assets or whether you have designated beneficiaries to certain types of assets.
