Question 33 What is the legal term that is used when a person dies without a will? Insensitive Intestate Infuriating Intermediate Intermittent 2 points Question 34 Why is financial planning for retirement vitally important? You can expect to live in retirement for many years. Social Security and your private pension may be insufficient to cover your cost of living. Inflation may diminish the purchasing power of your retirement savings. All of these factors are vitally important. None of these factors are important. 2 points Question 35 A person who will follow your instructions specified in your will is called a(n): beneficiary. trustor. witness. executor or executrix. codicil.