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What are the four basic types of wills? Simple will. A simple will?sometimes known as "basic"?is the type most people associate with the word "will." With a simple will, you can decide who will receive your assets and name a guardian for any minor children. ... Testamentary trust will. ... Joint will. ... Living will.

The main difference is in scope. A standard will is intended to account for the entirety of the deceased's estate. They provide instructions for distributing all assets. By comparison, a pour-over will only gives instruction for handling assets not included in the standard will.