Understanding Wills and Probate

What is a will also known as?

• Beneficiary document

• Living trust

• Final statement

• Last will and testament

What legal process validates a person's will?

• Authentication

• Probate

• Verification

• Certification

Who is typically appointed to distribute the deceased's property?

• Guardian

• Beneficiary

• Executor

• Lawyer

What happens if you die without a will?

• It remains undistributed

• It goes to a charity

• It is distributed according to state laws

• Your property is auctioned

What can a will designate besides asset distribution?

• Your pension plan

• Your social media passwords

• Guardians for children

• Your preferred memorial statue

What is the term for dying without a will?

• Intestate

• Testate

• Unwilled

• Will-less

What type of will is written by hand?

• Living will

• Joint will

• Holographic will

• Testamentary will

What does a living will specify?

• Distribution of property

• Preferences for medical care

• Guardianship of children

• Distribution of digital assets

How long does the probate process usually last?

• 12 to 18 months

• 6 to 12 months

• 3 to 6 months

• 1 to 3 months

What must the executor do before distributing assets?

• Take a vacation

• Pay outstanding debts

• Sell all the property

• Change the locks on the deceased's home