Probate Costs

question 50

Multiple Choice

Probate costs

• A)are a percent of the gross estate.
• B)are a percent of yearly retirement income.
• C)are a set fee.
• D)are a percent of the net estate.

---

Definitions:

Downsloping

Refers to a descending trend or pattern, often used in contexts such as demand curves in economics, where price and quantity demanded move in opposite directions.

Nominal Interest Rate

The interest rate expressed in terms of annual amounts currently charged for interest and not adjusted for inflation.

Compounded Annually

The process of calculating interest on both the initial principal and the accumulated interest from previous periods on a yearly basis.

Present Value

The current value of a future sum of money or stream of cash flows given a specified rate of return.