1. Dying without a will means
a. the probate court will decide who receives your estate.
b. the probate court will decide who will receive your life insurance.
c. your estate will become the property of your state.
d. your parents or spouse will decide who will receive your estate.
2. Which of the following types of property would not go directly to your heir immediately by contract at your death?
a. your 401(k) retirement plan monies
b. your bank account held jointly with your spouse
c. the boat you gave to your brother in your will
d. the proceeds of your life insurance policy to the beneficiary
3. Who is least likely to have an estate?
a. a small business owner
b. a college student
c. a married retiree
d. Everybody has an estate