NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Basics of Estate Planning
In estate planning, the term 'testator' refers to which of the following?
A testator is the person who makes a will that directs how his or her property will be distributed after death. Someone who dies without a valid will is intestate, while the recipient of a bequest is a legatee or beneficiary.
- AA person who dies without leaving a valid will
- BA person who makes a will disposing of his or her property after deathCorrect
- CA person named in a will to receive a bequest
- DA person appointed by a court to administer an intestate estate
Explanation
A testator is the person who makes a will to direct how property is distributed after death. A person dying without a valid will is called intestate. The recipient of a bequest is a legatee or beneficiary, and a court-appointed administrator handles intestate estates.
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