Purpose Is the Overall Shape of the Product or Service

question 39

True/False

Purpose is the overall shape of the product or service.

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Definitions:

General Legacy

A bequest of a specific amount of money or a specific asset to a particular beneficiary, as stipulated in a will.

Specific Legacy

A bequest in a will that leaves a particular piece of property or a specified asset to a designated beneficiary.

Residual Legacy

The remainder of an estate that is left after all specific bequests have been fulfilled and debts have been paid.

Devise

A legal term for the act of leaving real estate property to someone through a will.