When Should a Will Be Updated

question 21

Multiple Choice

When should a will be updated?

• A)When a child is born into the family
• B)The value of your home remains the same
• C)It has been one year since you created your will
• D)You have not purchased any new assets

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Definitions:

Monopoly

A market structure characterized by a single seller dominating the entire market for a particular good or service.

Direct Competition

The rivalry between businesses or entities that offer identical or highly similar goods or services to the same customer base.

Trade-Offs

Situations where a choice must be made between two desirable or undesirable outcomes, often involving a compromise.

Performance Determinants

Factors that significantly influence the level of performance in individuals or organizations, including skills, motivation, and environmental conditions.