Making a Will

Chelsea K
Quiz by Chelsea K, updated more than 1 year ago More Less
Chelsea K
Created by Chelsea K over 1 year ago
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Description

Test your knowledge about making a will in Canada.

Resource summary

Question 1

Question
If you pass away without a will, what happens?
Answer
  • 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.

Question 2

Question
You can handwrite your own legally valid will.
Answer
  • True
  • False

Question 3

Question
In your will, the term "children" includes: (select all that apply)
Answer
  • All minors that reside within your primary residence.
  • Your biological offspring.
  • Any adopted individuals.
  • Your step-children.
  • Any individuals whom you have raised.

Question 4

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

Question 5

Question
What is probate?
Answer
  • 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.

Question 6

Question
Every will needs to be probated.
Answer
  • True
  • False

Question 7

Question
The following types of assets are included in the estate: (select all that apply)
Answer
  • Personal belongings.
  • Life insurance naming a beneficiary.
  • Jointly owned property.
  • Individually owned property.
  • Pensions.

Question 8

Question
Anyone who feels a will is unfair can contest it.
Answer
  • True
  • False

Question 9

Question
What can be included in incapacity documents? (select all that apply)
Answer
  • 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.

Question 10

Question
The government takes a portion of your estate when you pass away.
Answer
  • True
  • False

Question 11

Question
An Advance Healthcare Directive is the same thing as a Do Not Resuscitate (DNR) order.
Answer
  • True
  • False

Question 12

Question
When should you update your will? (select all that apply)
Answer
  • 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.

Question 13

Question
A photocopy of your will can be used for probate if the original gets lost.
Answer
  • True
  • False

Question 14

Question
Which of the following jobs does an executor do? (select all that apply)
Answer
  • Distribute your assets according to your will.
  • Decide if your will seems fair.
  • Make funeral arrangements.
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