Making a Will

Descrição

Test your knowledge about making a will in Canada.
Chelsea K
Quiz por Chelsea K, atualizado more than 1 year ago
Chelsea K
Criado por Chelsea K mais de 6 anos atrás
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Resumo de Recurso

Questão 1

Questão
If you pass away without a will, what happens?
Responda
  • Your spouse gets everything.
  • The provincial government steps in to manage your estate.
  • Someone needs to apply to the Supreme Court to be allowed to manage your estate.
  • Your next of kind becomes responsible for managing your estate.

Questão 2

Questão
You can handwrite your own legally valid will.
Responda
  • True
  • False

Questão 3

Questão
In your will, the term "children" includes: (select all that apply)
Responda
  • All minors that reside within your primary residence.
  • Your biological offspring.
  • Any adopted individuals.
  • Your step-children.
  • Any individuals whom you have raised.

Questão 4

Questão
Across Canada, being legally married and being common-law spouses are the same thing for estate planning purposes.
Responda
  • True
  • False

Questão 5

Questão
What is probate?
Responda
  • An amount charged by an estate lawyer.
  • A court process that states your will is valid, and everyone should follow your instructions.
  • An amount charged by the government, also known as a death tax.
  • A court process that decides who will inherit first.

Questão 6

Questão
Every will needs to be probated.
Responda
  • True
  • False

Questão 7

Questão
The following types of assets are included in the estate: (select all that apply)
Responda
  • Personal belongings.
  • Life insurance naming a beneficiary.
  • Jointly owned property.
  • Individually owned property.
  • Pensions.

Questão 8

Questão
Anyone who feels a will is unfair can contest it.
Responda
  • True
  • False

Questão 9

Questão
What can be included in incapacity documents? (select all that apply)
Responda
  • Choosing someone to speak for you.
  • Deciding ahead of time what kinds of things you would like to have happen.
  • Restrictions for what kinds of things you don't want to have happen.

Questão 10

Questão
The government takes a portion of your estate when you pass away.
Responda
  • True
  • False

Questão 11

Questão
An Advance Healthcare Directive is the same thing as a Do Not Resuscitate (DNR) order.
Responda
  • True
  • False

Questão 12

Questão
When should you update your will? (select all that apply)
Responda
  • When your spouse passes away.
  • Never. Wills don't expire.
  • When you get married or divorced.
  • When you have children or grandchildren.
  • Every 7 years.

Questão 13

Questão
A photocopy of your will can be used for probate if the original gets lost.
Responda
  • True
  • False

Questão 14

Questão
Which of the following jobs does an executor do? (select all that apply)
Responda
  • Distribute your assets according to your will.
  • Decide if your will seems fair.
  • Make funeral arrangements.

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