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Raul owns real estate in two states: his personal residence in Georgia and a small condominium in a coastal town in South Carolina. After reading
Raul owns real estate in two states: his personal residence in Georgia and a small condominium in a coastal town in South Carolina. After reading about probate, he has several concerns. First, he is worried that all of his personal financial information will become public if his estate goes through the probate process. Second, he is concerned that his executor will need to deal with the probate courts in both Georgia and South Carolina. He is worried that this could get expensive, in addition to being a hassle. Third, he is tired of having to worry about the many ways to title each piece of property. As a single person, Raul's home and condo are titled fee simple. Is he correct that, if he were to pass away, the property would need to go through the probate system? Yes No Later Consumers who are interested in minimizing conflicts of interest and avoid being ripped off should work with a financial advisor who: I. fully discloses any and all fees. II. fully discloses any potential conflicts of interest. III. uses mutual funds over individual stocks. I only. III only. I and II only. O I, II, and III. Mark, age 56, is a single man and died intestate. In addition to household and personal items, he had $450,000 in 401(k) retirement assets, and a named beneficiary for his 401(k) account. Who will receive the 401(k) plan? Whomever Mark noted in his will. His brothers and sisters, in equal shares, or his parents. Whomever Mark listed as the account beneficiary. Whomever the state where he died indicates through probate statute
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