Wills. What is a will? Why is a will important? What happens if a person dies without a will?

A will is: (Select the best answer below.)

A. a legal request, and also identifies a guardian for surviving children.

B. a court-ordered legal request.

C. a legal request that must be signed in the three years before death.

D. handwritten, and identifies a guardian for surviving children.

A will is critical to ensure that: (Select the best answer below.)

A. heirs do not have to pay funeral expenses.

B. proper life insurance payments be made after death.

C. at least one property will remain free from capital gains taxes.

D. the estate is distributed to the heirs according to the individual's wishes.

If someone dies without a will (intestate), then the court will appoint: (Select the best answer below.)

A. an administrator, who will be paid with the assets from the estate.

B. a guardian, who will collect most assets from the estate.

C. an unpaid guardian, since the assets from the estate will belong to the state.

D. an administrator, who will collect most assets from the estate.