NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Basics of Estate Planning
In estate planning, a person who dies leaving a valid will is described by which term?
The person who dies leaving a valid will is called a testator. This differs from an intestate, who dies without a will, a legatee, who receives a bequest, and an executor, who administers the will after death.
- AIntestate
- BTestatorCorrect
- CLegatee
- DExecutor
Explanation
A testator is the person who makes a will and dies leaving it. An intestate is someone who dies without a valid will. A legatee receives property under the will, and an executor is appointed to carry out the will.
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