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A large percentage of people do little or nothing to provide for those who will survive them.

A) True
B) False

Correct Answer

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A trustee is a person who assumes the responsibilities of providing the children with personal care and of managing the estate for them.

A) True
B) False

Correct Answer

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A guardian is a person or an institution that holds property for the benefit of someone.

A) True
B) False

Correct Answer

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Every adult should have a written will.

A) True
B) False

Correct Answer

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Which will should not be witnessed?


A) informal will
B) letter of last instruction
C) formal will
D) statutory will
E) holographic will

F) A) and D)
G) None of the above

Correct Answer

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Your executor can be a family member,a friend,an attorney,an accountant,or the trust department of a bank.

A) True
B) False

Correct Answer

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A person who will follow your instructions specified in your will is called a(n)


A) beneficiary.
B) trustor.
C) witness.
D) executor or executrix.
E) codicil.

F) A) and C)
G) B) and E)

Correct Answer

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If you never married,you don't need to organize your personal and financial documents.

A) True
B) False

Correct Answer

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This chapter on estate planning provides all the answers to estate planning questions.

A) True
B) False

Correct Answer

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At death,it is necessary to deregister any registered assets,such as RSPs or RIFs.

A) True
B) False

Correct Answer

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Many people don't give a single thought to preparing for death.

A) True
B) False

Correct Answer

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A(n) ____________ trust is a property management arrangement that you establish while you are alive.


A) guardian
B) testamentary
C) living
D) power of attorney
E) estate

F) A) and B)
G) A) and C)

Correct Answer

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