Personal Finance Study Set 15

Business

Quiz 19 :
Estate Planning

Quiz 19 :
Estate Planning

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LIMRA International,a financial services research organization,provides information about estate planning to survivors in the form of a booklet.
Free
True False
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Answer:

True

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Estate planning is a definite plan for the administration and disposition of one's property during one's lifetime and at one's death.
Free
True False
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Answer:

True

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Estate planning is not an essential part of retirement planning.
Free
True False
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Answer:

False

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A large percentage of people do little or nothing to provide for those who will survive them.
True False
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If you never married,you don't need to organize your financial affairs.
True False
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Estate planning is useful only to rich and elderly people.
True False
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Estate planning is an integral part of financial planning.
True False
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Most people cannot afford the expense of using trusts.
True False
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Estate planning includes a subject most people would rather avoid: death-your own or that of your spouse.
True False
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An estate plan is usually implemented by a will and one or more trust agreements.
True False
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Millions of nontraditional households have unique estate planning problems.
True False
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Unmarried couples face formidable retirement and estate planning challenges.
True False
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Last-minute "death-bed" estate planning may fail to carry out your wishes.
True False
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When death occurs,proof of claims must be produced or the claims will not be processed.
True False
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If you die without a valid will,you die intestate.
True False
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A will is a legal declaration of a person's mind as to the disposition of his or her property after death.
True False
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If you die intestate,the state's law of descent and distribution becomes your will.
True False
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It is unnecessary to review and modify your will when you divorce or remarry.
True False
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If you marry after you have made a will,the will is revoked automatically unless certain conditions are met.
True False
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If you marry after you have made a will,you are better off drawing a new will to fit your new circumstances.
True False
Answer:
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