Values Define the Ethical Standards and Norms That Should Govern

question 23

Essay

Values define the ethical standards and norms that should govern the behavior of the individuals within the firms.Describe two important functions of strong ethical values.

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Definitions:

Uniform Probate Code

The Uniform Probate Code is a set of laws designed to simplify the process of transferring assets at death and to standardize probate proceedings across different jurisdictions.

State Law

The body of law enacted by individual states in the United States, as opposed to federal law which is enacted by the federal government.

Disposition

The act of disposing, selling, or transferring property or assets, often as part of a legal settlement or estate management.

Inter Vivos Trust

A trust created and implemented during the lifetime of the grantor to manage or protect assets.