Which of the following statements about the ‘Estate Planning’, ‘Wills’ and ‘Enduring Power of Attorney’ sections of the lecture material are TRUE:An executor of a will is the person who is responsible to make sure that the assets are distributed according to the instructions provided in the will. An executor cannot be a beneficiary of the will.You cannot leave someone your superannuation in your will because you do not directly own your superannuation as an asset. It is held in trust on your behalf. Instead, someone should generally nominate beneficiaries with their superannuation fund directly.Question 9AnswerNeither of the statements are true (both are false)Only statement 1 is trueOnly statement 2 is trueBoth statements are true (neither are false)
Question
Which of the following statements about the ‘Estate Planning’, ‘Wills’ and ‘Enduring Power of Attorney’ sections of the lecture material are TRUE:An executor of a will is the person who is responsible to make sure that the assets are distributed according to the instructions provided in the will. An executor cannot be a beneficiary of the will.You cannot leave someone your superannuation in your will because you do not directly own your superannuation as an asset. It is held in trust on your behalf. Instead, someone should generally nominate beneficiaries with their superannuation fund directly.Question 9AnswerNeither of the statements are true (both are false)Only statement 1 is trueOnly statement 2 is trueBoth statements are true (neither are false)
Solution
The correct answer is "Only statement 2 is true".
Here's why:
Statement 1: An executor of a will is indeed the person who is responsible to make sure that the assets are distributed according to the instructions provided in the will. However, an executor can also be a beneficiary of the will. Therefore, this statement is false.
Statement 2: You cannot leave someone your superannuation in your will because you do not directly own your superannuation as an asset. It is held in trust on your behalf. Instead, someone should generally nominate beneficiaries with their superannuation fund directly. This statement is true.
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