26. The basic purpose of insurance is to: a. protect the health of you and your family. b. shicld you and your farnily from bad decisions. c. supplement the income of you and your family. d. protect you and your family from financial losses. e. protect you and your family from nonfinancial losses. 27. Suppose you carelessly, but unintentionally, knocked someone down a flight of stairs in your home. You would be covered by your homeowner's insurance. a. True b. False 28. You have a spouse, two children, three brothers, one grandehild, and a living father. If you died without a valid will, the person(s) most likely to receive the proceeds of your estate would be your: a. father. b. spouse. c. brothers. d. grandchild. c. chidiren. 29. Which of the following statements about the review of estate plans is true? a. Life events like disability and job change do not influence the review of estate plans. b. Estates are exempted from taxes when there is an intestacy, which makes a review process redundant. c. Estate planning and review is a very simple process that doesn't requuire professional assistance. d. Transfer costs are not applicable to the transfer of estates and, therefore, will not affect the review plan: e. Periodic reviews and revisions are required to update the plan. 30. The objective of estate planning is to: B. avoid the disposition of assets to the possible beneficiaries. b. determine how to invest the estate's assets after your death. c. create a situation of intestacy. d. maximize the usefulness of people's assets during their lives: c. maximize the taxes involved in the transfer of assets