Q & A: General Estate Planning Quiz

1. Estate planning is
A. only for the rich.
B. vital for anyone who has assets.
C. required by law.

2. The first step of every estate plan is the
A. preparation of a personal inventory.
B. drafting of a will.
C. listing of insurance policies.

3. Estate planning experts include
A. actuaries.
B. gift planning coordinators.
C. IRS agents.

4. One tool of estate planning is a
A. buy-sell agreement.
B. computer.
C. mutual fund.

5. Trusts are useful in
A. replacing the need for a will.
B. managing assets.
C. ensuring nothing in your estate is overlooked.

6. Good estate planning involves
A. completion of an estate tax return.
B. owning sufficient assets.
C. financial management during your lifetime.

7. Some say that the more modest the estate
A. the greater the expenses.
B. the shorter the will.
C. the greater the need for careful disposition.

8. To shape the future for yourself and others
A. sell everything now.
B. consider a life income plan.
C. hold all assets jointly.

Now, click here to check your answers.


The information on this site is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional or investment professional.

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