NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Basics of Estate Planning
In estate planning, the person who makes a will and disposes of property through it is known as which of the following?
The person who makes a will and directs how their property is to be distributed after death is called the testator. The executor carries out the will, the legatee receives a bequest, and an administrator is court-appointed when there is no valid executor.
- ATestatorCorrect
- BExecutor
- CLegatee
- DAdministrator
Explanation
The maker of a will is called the testator (testatrix if female). The executor is the person appointed to carry out the will, a legatee is a person who receives property under it, and an administrator is appointed by the court when there is no will or no executor.
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