All categories

3 years ago

Difference between a will and a living trust

Business

1 answer:

aev [14]3 years ago

7 0

Answer:

A will gets into effect after a person dies. trust gets into effect as soon as it is created. The will covers all the property under the individual's name. Trust covers property which has been transferred in the name of the trust.

Explanation:

A will directs who will receive his property after an individual's death. It also appoints a representative to carry out the wishes of the deceased. A trust on the other hand can divide the property before, after or at death.

A will is a document through which a person expresses his wishes about how his property is to be distributed, it can also contain details regarding funeral.

A trust is an arrangement through which property of an individual is held by other individuals or institution.

You might be interested in

Which of the following is not typical of traditional costing systems? Use of direct labor hours or direct labor cost to assign o

EleoNora [17]

Answer:

The correct answer is use of multiple cost drivers to allocate overhead

Explanation:

Use of direct labor hours or direct labor cost to assign overhead to products is typical of traditional costing systems as overhead is believed to have positive relationship with labor-related variables.

Besides,using a business-wide or plant-wide single predetermined overhead rate is not feature of traditional systems of costing.

Since labor-related variables such as direct labor hours or direct labor cost is assumed to be a driver of overhead cost,hence an appropriate overhead absorption basis,it is perfectly understood that there is correlation between direct labor and incurrence of overhead cost in the business.

8 0

3 years ago

Christopher, an accounts manager at a mid-sized health care firm, does not have any direct international responsibilities; howev

monitta

Answer:

better understanding how foreign operations affect the company's competitive advantage.

Explanation:

Based on the scenario being described within the question it can be said that Christopher would greatly benefit by better understanding how foreign operations affect the company's competitive advantage. Mostly due to the fact that it would allow Christopher to determine certain aspects or scenarios that the company may not realize and maybe help him climb in the ranks.

7 0

3 years ago

Depreciating assets: a become more valuable over time. b become less valuable over time. c stay the same value. d none of the ab

NemiM [27]

Depreciating means to become less valuable over time, so I believe the correct answer is <span>b. become less valuable over time.</span>

6 0

2 years ago

Read 2 more answers

Robert, the president of the labor union of a company, speaks to the management of the company about the requirement for an extr

vodomira [7]

Answer:

Taft-Hartley Act

Explanation:

Taft-Hartley Act is also known as the labour management relations act of 1947 and it restricts the activities and powers of labour unions. It stops unions for engaging in unfair labour practices such as jurisdictional strike, wild strike, political strike, secondary boycotts, and monetary donations to political campaigns.

Robert has violated the Taft-Hartley act by creating a fictional role in the company in order to get his cousin a job.

8 0

2 years ago

World trade organization (wto) member countries account for approximately __________ percent of world trade.

svp [43]

World trade organization member countries account for approximately 80-95% of world trade. Its three main functions are: -Forum for negotiation -Administration -Dispute Settlement To sum it up, World Trade Organization sets the rules, allows countries to talk, and has process for actually resolving problems.

3 0

2 years ago