A Joint Will

question 49

Multiple Choice

A joint will:

• A)can only have a single beneficiary.
• B)is only valid if the testators are a married couple.
• C)is a single instrument that constitutes the will of both or all of the testators.
• D)cannot be changed once it is created.

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Definitions:

Income Mobility

The ability of individuals or families to move up or down the economic ladder within a society over time.

Economic Status

An individual's or area's financial condition and stability, often measured by income, employment, and wealth indicators.

Annual Income

The total amount of money earned by an individual or business in one year from all sources.

Work Effort

The amount of physical or mental energy used to perform a task or achieve an objective.