In 2017, the Highest Quintile of Households in the U

question 128

Multiple Choice

In 2017, the highest quintile of households in the U.S. income distribution received about

• A)43 percent of total income.
• B)30 percent of total income.
• C)62 percent of total income.
• D)52 percent of total income.

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Definitions:

Legacy

Assets or money passed on to heirs in a will, or a system/software inherited from the past.

Uniform Probate Code

A set of laws intended to simplify the process of transferring assets upon death, and to standardize and modernize probate law across states.

Probate Laws

The body of law that governs the 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.