Under What Circumstance Does an Estate Have an Executor

question 11

Multiple Choice

Under what circumstance does an estate have an executor?

• A) When there is no valid will.
• B) When the estate exceeds the dollar amount of the estate tax exemption.
• C) When the will establishes a trust fund.
• D) When the will is contested.
• E) When the will names a specific person to administer the estate.

---

Definitions:

Free Trade

The absence of artificial (government) barriers to trade among individuals and firms in different nations.

Economic Inefficiency

A situation where resources are not allocated optimally, leading to waste or loss in the potential value of output.

Hollow Corporation

A business model where a company outsources most of its production processes, keeping only core functions such as design, marketing, and branding in-house.

Imports Foreign Goods

The act of bringing goods and services from foreign countries into one's own country for sale.