Asked by Emily Vazquez on Jun 30, 2024
Verified
When should a will be updated?
A) When a child is born into the family
B) The value of your home remains the same
C) It has been one year since you created your will
D) You have not purchased any new assets
Will
A legal document in which a person states how he or she wants property and possessions distributed after death.
Assets
Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.
Family
A social unit consisting of parents and their children, considered as a group, whether dwelling together or not; the traditional concept extends to include relatives.
- Decode the legal dimensions and considerations pertinent to will preparation, along with the consequences that ensue from a lack of a will upon death.
Verified Answer
CY
connell youngJun 30, 2024
Final Answer :
A
Explanation :
Updating a will is important when significant life events occur, such as the birth of a child, to ensure that the will reflects current wishes and circumstances. Choices B, C, and D do not necessarily require an update to a will.
Learning Objectives
- Decode the legal dimensions and considerations pertinent to will preparation, along with the consequences that ensue from a lack of a will upon death.