Two Types of Assets Are Included in a Person's Estate

question 7

Multiple Choice

Two types of assets are included in a person's estate. These types are _______ and ______. ____________ ownership refers to assets owned outright by a person, whereas ____________ assets refer to those assets which must pass through a probate court.

• A) Probatable and nonprobatable; Probatable, nonprobatable
• B) Probatable and nonprobatable; Nonprobatable, probatable
• C) Revocable and nonrevocable; Revocable, nonrevocable
• D) Joint and survivor; Joint, survivor
• E) None of the above

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Definitions:

Intersex Individuals

People born with physical sex characteristics that do not fit typical binary notions of male or female bodies.

Third-sex Categories

Cultural or social classifications that acknowledge individuals who don't fit within the traditional binary gender categories of male or female.

Social Positions

The status or rank a person holds within a society, which can influence their access to resources and power.

Cultures

The customs, arts, social institutions, and achievements of a particular nation, people, or other social group.