In a Basic Will the Clause That Outlines the Distribution

question 46

Multiple Choice

In a basic will the clause that outlines the distribution of specific personal property, such as furniture, jewelry, cars, RRSPs, RRIFs, and pensions is the __________________

• A)identification and revocation clause
• B)specific bequests clause
• C)legacies clause
• D)power clause
• E)testimonium and attestation clause

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Definitions:

Homeowner's Insurance

A type of property insurance that covers losses and damages to an individual's house and assets in the home.

Business Activities

All actions undertaken by a company as part of its pursuit of profit, including production, sales, and service offerings.

Judgment Creditor

A creditor who has received a legal judgment confirming the debtor owes the creditor money.

Life Insurance Policy

A contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.