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:

Nezumi

Japanese, “mouse-gray” (ceramics).

Engawa

A traditional Japanese architectural feature that serves as an intermediary space or veranda between the indoors and the outdoors.

Haboku

In Japanese art, a loose and rapidly executed painting style in which the ink seems to have been applied by flinging or splashing it onto the paper.

Rinpa

A style of Japanese painting and decorative arts that emerged in the 17th century, characterized by the use of vibrant colors and nature themes.