Describe the Purpose of a Nondisclosure Agreement

question 9

Essay

Describe the purpose of a nondisclosure agreement. Provide an example of when a nondisclosure agreement kicks in.

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Definitions:

Accountant

A professional who can plan, direct, and evaluate a client’s financial affairs.

Probate Process

A legal process through which a deceased person's estate is properly distributed to heirs and designated beneficiaries, and any debt owed to creditors is paid off.

Probate-Avoiding Devices

Legal strategies or tools used to transfer assets upon death without going through the probate court process.

Will

A legal document, not valid until the testator’s death, expressing the testator’s intent in the distribution of all real and personal property.