NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Basics of Estate Planning
In estate planning, the person who makes a will and directs how his assets are to be distributed after death is called the:
The person who makes a will is called the testator. The executor only carries out the will, a legatee receives assets under it, and an administrator is appointed by a court when no executor is available to act.
- ATestatorCorrect
- BExecutor
- CLegatee
- DAdministrator
Explanation
The maker of a will is the testator. The executor is the person appointed in the will to carry out its terms, a legatee is the person who receives a bequest, and an administrator is appointed by a court when there is no will or no executor.
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