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Test Your Estate Planning Knowledge

What is the typical cost of probate proceedings?
2% to 7% of the estate value
Flat fee in most states
Depends on the size of the trust documents
When does the estate plan take effect?
As soon as the documents are signed and dated
Upon death or incapcitation
Upon death only
What is the advantage of having a trust over a will?
Assets pass tax free
A trust is a more comprehensive document
The trust does not have to be processed in court
What happens when a person dies without a will?
The state decides what to do with the assets
The assets go to the state
Family members decide who receives the assets
How often should you review your trust documents?
Every 10 years
 
Every five years
Every year
If a person dies intestate - it means:
The person died in their home state
The person died while in a nursing home
The person died without a legal will
What percentage of Elvis Presley's 10 million estate was subject to probate, taxes and fees
55 percent
 
73 percent
81 percent
According to Forbes what percentage of Americans do not have a will
39 percent
 
55 percent
47%
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