Chelsea K
Quiz by , created more than 1 year ago

Test your knowledge about making a will in Canada.

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Chelsea K
Created by Chelsea K about 6 years ago
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Making a Will

Making a Will

Question 1 of 14

1

If you pass away without a will, what happens?

Select one of the following:

  • Your spouse gets everything.

  • The provincial government steps in to manage your estate.

  • Someone needs to apply to the Supreme Court to be allowed to manage your estate.

  • Your next of kind becomes responsible for managing your estate.

Explanation

Question 2 of 14

1

You can handwrite your own legally valid will.

Select one of the following:

  • True
  • False

Explanation

Question 3 of 14

1

In your will, the term "children" includes:
(select all that apply)

Select one or more of the following:

  • All minors that reside within your primary residence.

  • Your biological offspring.

  • Any adopted individuals.

  • Your step-children.

  • Any individuals whom you have raised.

Explanation

Question 4 of 14

1

Across Canada, being legally married and being common-law spouses are the same thing for estate planning purposes.

Select one of the following:

  • True
  • False

Explanation

Question 5 of 14

1

What is probate?

Select one of the following:

  • An amount charged by an estate lawyer.

  • A court process that states your will is valid, and everyone should follow your instructions.

  • An amount charged by the government, also known as a death tax.

  • A court process that decides who will inherit first.

Explanation

Question 6 of 14

1

Every will needs to be probated.

Select one of the following:

  • True
  • False

Explanation

Question 7 of 14

1

The following types of assets are included in the estate:
(select all that apply)

Select one or more of the following:

  • Personal belongings.

  • Life insurance naming a beneficiary.

  • Jointly owned property.

  • Individually owned property.

  • Pensions.

Explanation

Question 8 of 14

1

Anyone who feels a will is unfair can contest it.

Select one of the following:

  • True
  • False

Explanation

Question 9 of 14

1

What can be included in incapacity documents?
(select all that apply)

Select one or more of the following:

  • Choosing someone to speak for you.

  • Deciding ahead of time what kinds of things you would like to have happen.

  • Restrictions for what kinds of things you don't want to have happen.

Explanation

Question 10 of 14

1

The government takes a portion of your estate when you pass away.

Select one of the following:

  • True
  • False

Explanation

Question 11 of 14

1

An Advance Healthcare Directive is the same thing as a Do Not Resuscitate (DNR) order.

Select one of the following:

  • True
  • False

Explanation

Question 12 of 14

1

When should you update your will?
(select all that apply)

Select one or more of the following:

  • When your spouse passes away.

  • Never. Wills don't expire.

  • When you get married or divorced.

  • When you have children or grandchildren.

  • Every 7 years.

Explanation

Question 13 of 14

1

A photocopy of your will can be used for probate if the original gets lost.

Select one of the following:

  • True
  • False

Explanation

Question 14 of 14

1

Which of the following jobs does an executor do?
(select all that apply)

Select one or more of the following:

  • Distribute your assets according to your will.

  • Decide if your will seems fair.

  • Make funeral arrangements.

Explanation

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