Which of the following is a key component of a will?

A Distribution of estate

B$.$ Naming a litigator

C$.$ Naming a next of kin

D$.$ Letter of last resort

Which of the following is a benefit of using an irrevocable trust over a revocable trust?

A$.$ You can dissolve an irrevocable trust at any time

B$.$ With an irrevocable trust, you are still the legal owner of your assets

C$.$ An irrevocable trust helps to avoid estate taxes

D$.$ An irrevocable trust is established in a will

Which of the following defines a living trust?

$(1)$ A$.$ A legal document in which one$-$person $($called a grantor$)$ transfers assets to another person $($called a trustee$)$ who manages the assets for designated beneficiaries to take effect after the person passes on

B$.$ A legal document in which you assign the management of your assets to a trustee while you are living

C$.$ A trust established for children in a family

D$.$ None of the above

Which of the following defines a durable power of attorney?

A$.$ A legal document that notifies healthcare professionals if you are an organ donor

B$.$ A legal document granting a person the power to make specific health care decisions for you

C$.$ Often paired with a living will to designate someone to make medicakecisions for you beyond the scope of your living will