The student applies mathematical process standards to demonstrate an understanding of wills and trusts for the distribution of assets at death. The student is expected to identify how wills and trusts support the distribution of assets after death.
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Q 1/3
Score 0
What is a will?
300
A fiduciary relationship in which you give another party authority to handle your assets for the benefit of a third party.
A document detailing how you want your affairs handled and assets distributed after you die.
A service provided by your employer wherein both you and your employer contribute money that will be paid back to you after you retire.
Q 2/3
Score 0
Which of the following is NOT a way in which wills and trusts are similar?
300
Both require a probate court to distribute the estate properly after death.
Both are ways to adjudicate how you leave your assets to your descendants.
Both are set up as you live and can be altered freely until you die.
Both are important parts of estate planning.
3 questions
Q.
What is a will?
1
300 sec
130.180.F.13
Q.
Which of the following is NOT a way in which wills and trusts are similar?
2
300 sec
130.180.F.13
Q.
What do you predict would happen if you died without establishing a will or trust?
