When Petitioning for Administration When No Will Exists, Which of the Following

question 25

Multiple Choice

When petitioning for administration when no will exists, which of the following is a duty of the paralegal?

• A)Ensuring that the petition and death certificate are filed
• B)Filing the Affidavit of Publication
• C)Collecting all information needed to complete and execute the petition for probate of will
• D)Arranging for witnesses to appear in court to testify on behalf of the testator

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Definitions:

Share Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares, although the overall value of the shares remains the same.

Net Value

represents the final value of an asset or transaction after deducting all costs, expenses, and liabilities.

Capital Surplus

A balance sheet account; the portion of shareholders’ contributions exceeding the par or stated value of shares. Also called additional paid in capital.

Derivative Action

A lawsuit brought by shareholders on behalf of a corporation against third parties, typically involving claims of mismanagement or abuse by corporate officers.