In Most States, There Is No Lower Age Limit for Testators

question 70

True/False

In most states, there is no lower age limit for testators as long as they understand the extent of their property.

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Definitions:

Deductible

An amount that must be paid out of pocket before an insurer will cover any expenses.

Assessed Valuation

A property value determined by a representative of the local or state government.

Taxation

The process by which governments finance their expenditure by imposing charges on citizens and corporate entities.

Tax Rate

The percent used to calculate a tax.