Operational Plans Are Generally Conducted at Two Levels

question 55

Multiple Choice

Operational plans are generally conducted at two levels.Which length of time is considered long-term?

• A)2 years
• B)12 - 18 months
• C)5 years
• D)10 years

---

Definitions:

Health-Care Powers

Legal authority granted to an individual (through a document or decree) to make medical decisions on behalf of another person.

Living Trust

A trust created by the grantor (settlor) and effective during his or her lifetime.

Intestacy Law

Legal provisions that govern the distribution of a deceased person's estate when they die without a valid will, determining how assets are allocated among survivors.

Estate Planning

Planning in advance how one’s property and obligations should be transferred on one’s death. Wills and trusts are two basic devices used in estate planning.