In the context of personal finance and estate planning, it is essential for individuals to understand the implications of their estate upon their passing. One key aspect of estate planning is how assets are distributed to heirs, which can involve various legal documents and arrangements.

Maria is a 65-year-old retiree who wishes to ensure her estate is distributed according to her wishes after her death. To achieve this, she considers several strategies. One of the most pivotal documents Maria might utilize in her estate planning is...