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7.02

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Asset   show
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show Person or institution who derives benefits from the creation of a trust, proceeds of an insurance policy, bond, or retirement fund when the owner dies. There can be one or more beneficiaries  
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show Non-profit organization  
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Decedent   show
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Estate   show
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show Provides a clear plan for what should happen upon the death of an individual  
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Executor   show
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Fiduciary   show
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Gift   show
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show Established by a legal document called a wil  
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Guardian   show
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Letter of Last Instruction   show
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show Any money that a person owes  
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Living Will   show
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Opportunity Cost   show
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show Property owned by the deceased individually, such as a car, jewelry, stocks  
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show A man or woman who makes a will  
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Time Utility   show
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show Giving up one thing for another  
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Value   show
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Will   show
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Created by: kalyncaudle
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