Which of the following best describes a will?

A will is fundamentally a legal document that outlines how a person's property and assets should be distributed upon their death. It allows the individual to specify beneficiaries, make provisions for dependents, and articulate specific wishes regarding their estate. This makes it a critical legal tool for ensuring that one's wishes are honored after passing.

The other choices do not accurately capture the essence of a will. While some may address aspects related to inheritance or obligations, they do not define the primary function of a will, which is solely focused on the distribution of an individual's estate after they have passed away. In particular, defining a will as a compulsory legal document or as a form for registering real estate misses the core purpose of a will in the estate planning process.