9
QuizMultiple Choice

Financial and Estate Planning — Quiz

Question 9 • Economics and Personal Finance

What is the primary difference between a will and a trust?

Answer
A
A trust outlines your medical care preferences, whereas a will covers all financial decisions.
B
A will goes into effect after death, while a trust takes effect as soon as it's created.
C
A will protects your assets from taxes, while a trust requires probate.
D
A trust can be changed at any time, while a will is always irreversible.
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