Understanding Estate Planning and Its Key Components

Understanding Estate Planning and Its Key Components

Assessment

Flashcard

Social Studies

10th Grade

Hard

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10 questions

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1.

FLASHCARD QUESTION

Front

Can you handwrite a will in Texas?

Back

Yes, handwritten wills are valid in Texas.

2.

FLASHCARD QUESTION

Front

Which option is best for creating a will?

Back

Consulting an attorney for significant assets, minor children, or complex family dynamics.

3.

FLASHCARD QUESTION

Front

Why is having witnesses and a notary important for a formal will?

Back

To ensure the will is legally binding and valid

4.

FLASHCARD QUESTION

Front

Why is it important for parents to name a guardian for their children?

Back

To ensure their children are cared for by someone they trust.

5.

FLASHCARD QUESTION

Front

Why is it important for people to update his beneficiary information after his marriage?

Back

To ensure a spouse is legally recognized as a beneficiary

6.

FLASHCARD QUESTION

Front

Why is it beneficial for people to create a power of attorney before a surgery?

Back

It allows someone to make decisions on his behalf if he is unable to do so.

7.

FLASHCARD QUESTION

Front

What responsibilities will the power of attorney have?

Back

Manage financial affairs, Make medical decisions, Handle legal matters

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