Which document outlines how a person's assets are distributed upon their death?

The document that outlines how a person's assets are distributed upon their death is a will. A will is a legal document that allows an individual, known as the testator, to articulate their wishes regarding the distribution of their property and other assets after their passing. This includes designating beneficiaries and outlining specific bequests, as well as appointing an executor to manage the estate and ensure that the instructions are carried out according to the testator's desires.

Other documents mentioned, such as a contract, a power of attorney, and a living will, serve different purposes. A contract is an agreement between parties that is enforceable by law. A power of attorney grants someone the authority to act on behalf of another person regarding financial or legal matters, but it doesn’t directly deal with asset distribution after death. A living will, on the other hand, specifies an individual’s wishes regarding medical treatment and end-of-life care but does not address the handling of assets posthumously. Hence, the will is the appropriate document for asset distribution after death.