Ferdinand I had several Wills drawn up during his lifetime, the dispositions of which reflected changing political circumstances or the altered situation within the family. The testamentary disposition of 1554 was drawn up in order to ensure that a functioning government would be in place after Ferdinand's death.
His first-born son Maximilian was to receive the rulership of Hungary and Bohemia, from the revenues of which he was to give his two brothers an annual sum of 10,000 gulden. He was also to retain Lower and Upper Austria with the towns of Steyr, Hallstadt, Ischl, Neuburg am Inn and Wildeneck.
His second-born son Ferdinand was assigned the territories of Tyrol together with Swabia, Alsace, Sundgau and Burgau. The youngest son Charles was to rule in Styria, Carinthia, Carniola, and Gorizia and Trieste.
In addition, Ferdinand I also provided for the division of all his income, including the revenue from the Kingdom of Naples and his movable possessions.