Even a Parent Without Significant Net Worth Needs a Will

question 81

True/False

Even a parent without significant net worth needs a will to appoint a guardian for children.

---

Definitions:

Limited Partnership

A business structure where at least one partner is designated as a general partner with unlimited liability, and at least one other is a limited partner whose liability is restricted to their investment.

Proper Procedures

Established methods or protocols that are deemed appropriate and correct for carrying out specific tasks or activities.

Partnership Creation

The process and actions necessary to form a partnership, including the agreement between two or more parties to carry on a business for profit.

Cognitive Appraisal

The process by which an individual evaluates and interprets an event or experience and its significance to their well-being.