The Khalim's Will flail is a quest item in Diablo II. Crafting it is the main task in Act III. Once crafted, it is used to smash the Compelling Orb and gain access to the Durance of Hate. When you smash the Compelling Orb, you complete the Khalim's Will quest, and the flail disappears.
Not only does the flail used to smash the orb disappear, but any party members who have the quest completed when the orb is smashed will have their flails disappear as well.
However, the flail is a pretty good weapon. It's better than the weapon my Paladin was using when we defeated the Council. Here are the stats:
Khalim's Will
One-Hand Damage: 1 to 15
Durability: 30 of 30
Mace Class - Very Fast Attack Speed
+50% Increased Attack Speed
+40 to Attack Rating
Adds 1-40 lightning damage
6% Mana stolen per hit
6% Life stolen per hit
+50% Damage to Undead
Is there any way to keep the weapon and continue using it?