Which Is Not True of Wills

question 49

Multiple Choice

Which is not true of wills?

• A)The ideal will may depend on the size of your estate.
• B)The ideal will may depend on the future appreciation of your estate.
• C)The ideal will may depend on inflation.
• D)Attorneys today believe that only the simple will is ideal.
• E)The ideal will may depend on your age and your spouse's age.

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Definitions:

Convertible Stock

Equity securities that can be converted into a predetermined number of common shares, at the option of the holder.

Callable Stock

A type of security that gives the issuer the right to buy back the shares at a predetermined price after a certain period.

Noncumulative Stock

Preferred stock where dividend payments are not accumulated if they are not declared, meaning shareholders may lose the right to dividends in missed payment periods.

Statement Of Stockholders' Equity

A financial statement showing changes in a company's equity, including net income, dividend payments, and stock issues or repurchases, over a period.