In Estate Planning,if You Are Married

question 69

Multiple Choice

In estate planning,if you are married:

• A)you do not need a will as your spouse is entitled to all of your assets.
• B)your estate planning becomes simpler once you have children.
• C)you should let your spouse do all of your estate planning.
• D)your situation is more complex than when you were still single.
• E)your planning consists solely of naming beneficiaries for your life insurance.

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Definitions:

Nuts

Hard-shelled seeds of certain plants that are generally edible and nutritious, often eaten raw, roasted, or used as ingredients in cooking.

Berries

Small, pulpy, and often edible fruits, typically juicy, rounded, brightly colored, and seed-containing, consumed worldwide in various forms.

Utility Function

A mathematical representation of how individual preferences or consumption bundles yield levels of satisfaction or utility.

Budget Constraint

A representation of all the combinations of goods and services a consumer can afford to buy given their income and the prices of the goods.