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Should you do your own will?
Do you know enough to write your own will? If you're a do-it-yourselfer, take this quiz to find out if you're ready.
1.
If you die without a will, who decides what happens to your money?
The federal government.
Your state government.
Judge in your local probate court.
Your heirs, who must come to an agreement.
2.
You are divorced and remarried. Your divorce agreement does not say anything about the retirement plan you started during your first marriage and you have not looked at it since you divorced. Your will leaves everything to your second spouse. Who gets your retirement plan if you die?
Your first spouse.
Your second spouse.
Each gets half.
A judge has to decide.
3.
You made a will two years ago, when you were living in another state. Will your new state recognize your will if you die?
Yes.
No.
Maybe, depending on your state law.
It depends on whether your will said you would be moving out-of-state.
4.
Who should not sign as a witness to your will?
Your accountant.
Your best friend.
Your lawyer.
Anyone who is named a beneficiary in your will.
5.
Your brother-in-law just died and his will named you executor, but you do not want the responsibility. Are you obligated to do the job?
No, because anyone can decline to be an executor or a co-executor.
No, because he is not a blood relative.
No, because he did not get your permission to name you executor.
Yes, because his will is a legal document and you are legally bound.
Data providers
Copyright © 2009
Thomson Reuters
.
Click for Restrictions.
Quotes supplied by
Interactive Data Real-Time Services
.
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