Which of the Following Is the Most Practical First Step

question 45

Multiple Choice

Which of the following is the most practical first step in estate planning?

• A)Preparing a will
• B)Gathering military service records
• C)Obtaining court documents with legal name changes
• D)Reviewing automobile registrations
• E)Purchasing life insurance

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Definitions:

Dividend Income

Income received from owning shares in a company, typically distributed from the company's earnings.

Debt Securities

Financial instruments representing money borrowed that must be repaid, including corporate and government bonds, which provide interest income to the holder.

High Liquidity

Refers to assets that can quickly be converted into cash with minimal impact on their price.

High Risk

Referring to investments or activities with a greater than usual potential for loss or that may involve significant uncertainty.