Investment Strategies Answers

What are the main rules of writing a will? Check all that apply.In most states, you must be eighteen or older.The document must clearly state that it is your will.A notary must be present during the writing of the will.At least three people must witness the signing of the will. A will must be written in sound judgement and mental capacity.An executor must be named to oversee the distribution of the estate.

What are the responsibilities of an executor? Check all that apply.paying any taxes that are due on the estatetaking inventory of the property and belongingsappraising and distributing the deceased person’s assetssettling any debts that are owed by the deceasedinheriting assets named in a will if the first choice cannotacting on someone’s behalf if he or she becomes sick or injured

What are the benefits of naming a secondary beneficiary in a will? Check all that apply.It could prevent a will from going into probate.It avoids confusion if the primary beneficiary dies first.It makes it less likely that there will be claims that the will is invalid.It allows for another option if the primary beneficiary cannot inherit.It identifies someone who can assess the value of assets in a will.It ensures that someone can act on a person’s behalf if he or she becomes hurt.