Yair explains to an attorney that he wants some of his assets to be released to his grandson when his grandson turns 18 years old. What should the attorney do next?A.Name an executorB.Create a trustC.Write a willD.Release the assets

Why might parents set up a trust for a child?A.Because they don't want to bequeath all their assetsB.Because they know their assets will gain value as the child agesC.Because they want to ensure an honest executor is chosenD.Because they worry the child won't manage money properly

A will lays out who will take over your _____ after your death.A.beneficiariesB.assetsC.plansD.trustsSUBMITarrow_backPREVIOUS

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)

When setting up an advance directive, it's important to name a trustworthy person as your _____.A.beneficiaryB.trusteeC.power of attorneyD.executorSUBMITarrow_backPREVIOUS

A minor enters into contract for purchase of necessaries. In such a case *He is personally liable to payHe is liable to payHis estate is liable to payHis guardian is liable to pay