Raphaelle Employs a Variety of Will Substitutes to Transfer Her

question 37

Multiple Choice

Raphaelle employs a variety of will substitutes to transfer her assets, which consist principally of cash and investments in mutual funds, outside the probate process. In this situation, the most important consideration is to

• A) avoid the cost of probate.
• B) ensure that the arrangements benefit the intended persons.
• C) establish grounds for a court's review of the arrangements.
• D) follow the same principles as apply to testamentary transfers.

---

Definitions:

Interest

A fee, usually charged for the use of money.

Check Register

A record of checks written, deposits made, and current balances within a checking account.

Deposits

Money placed into an account or given to a third party as a pledge for the fulfilment of an agreement.

Cash Balance

The amount of money in cash or cash equivalents that a company or individual has available at any given time.