Which of the Following Is a Typical Duty of an Executor

question 71

Multiple Choice

Which of the following is a typical duty of an executor of an estate?

• A) Pay funeral expenses.
• B) Pay off the decedent's financial liabilities.
• C) Distribute the net assets of the probate estate.
• D) Manage the decedent's assets until they are liquidated or distributed.
• E) All of the above.

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Definitions:

Rational Acts

Actions or decisions that are made based on logical reasoning and coherent analysis, aiming at maximizing benefits while minimizing costs and risks.

Voice of the People

A term used to describe the opinions, wishes, or preferences of the general public or a particular segment of society.

Basis of Economy

The foundational elements or activities that support and drive the economic systems, such as production, consumption, and trade.

Self-governing

The capability of an organization or entity to regulate itself without external intervention.