A Legal Arrangement That Helps Manage the Assets of Your

question 70

Multiple Choice

A legal arrangement that helps manage the assets of your estate for your benefit or that of your beneficiaries is called a

• A) Formal will.
• B) Trust.
• C) Holographic will.
• D) Guardian.
• E) Statutory will.

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Definitions:

Net Transfers

The balance of financial transactions from grants, remittances, or aid between entities or countries, excluding commercial transactions.

Financial Accounts

Records that track the financial activities and conditions of an individual, business, or organization, including assets, liabilities, and equity.

Positive Item

An item or aspect that contributes positively to a situation, often enhancing quality or effectiveness.

Balance Of Payments

A comprehensive record of a country's financial transactions with the rest of the world, including trade, investment, and monetary movements.