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Denise and her spouse are planning their estate. They must determine who will carry out their wishes for medical care in the event that they are unable to do so.Which role are they identifying?

An executor because this individual implements medical wishes

A legal guardian because this person makes sure that medical wishes are protected

A beneficiary designation because this assigns an individual to fulfill medical wishes

A power of attorney because this gives a person the authority to carry out their medical wishes

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As part of his estate plan, Emile must determine who will receive his life insurance settlement in the event of his death. Which role is Emile identifying?

An executor of the will because life insurance is part of the will

A legal guardian because this individual protects Emile’s life insurance

A power of attorney because this person knows life insurance laws

A beneficiary designation because this specifies the recipient of Emile’s insurance

How would an estate plan have helped the Reed family?

Estate planning would have eliminated the inheritance tax.

Estate planning would have made the probate process shorter.

Estate planning would have ensured that all siblings agreed.

Estate planning would have protected assets from debt collectors.

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