Certified Financial Planner (CFP) Practice Exam · Question
Which document outlines a deceased individual's wishes regarding the distribution of their assets and the appointment of an executor?
A will is a legal document that specifies how a person's assets should be distributed after their death and names an executor to manage the estate.
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Question: Which document outlines a deceased individual's wishes regarding the distribution of their assets and the appointment of an executor?
Answer options:
- Power of Attorney
- Trust agreement
- Life insurance policy ✅ Will
Correct answer: Will
Explanation: A will is a legal document that specifies how a person's assets should be distributed after their death and names an executor to manage the estate.
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