Shorty Is Worried That His Health May Soon Deteriorate to the Point

question 152

Multiple Choice

Shorty is worried that his health may soon deteriorate to the point where he will no longer be able to take care of his own finances. One way he could ease his mind would be to:

• A) name an executor to his will.
• B) prepare a durable power of attorney.
• C) transfer title to all of his real estate and financial assets to a relative he trusts.
• D) invest all of his financial assets into a Keogh plan.

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Definitions:

Competitors

Entities that compete within the same market, offering similar products or services to the same customer base.

Competitive Advantage

Competitive advantage occurs when a business possesses a unique feature, capability, or position that allows it to outperform competitors.

Survival

The ability of a person, organization, or entity to continue to exist or operate despite facing obstacles or adversity.

Mistakes

Actions or judgments that are wrong or incorrect, often leading to undesirable outcomes, but can serve as valuable learning experiences.