Always check for synonyms and contrary meanings, and be open to how words and terms can be simultaneously listed under various headings and indices
Indicate whether the statement is true or false
True
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Answer the following statements true (T) or false (F)
1. Estate administration means the decedent’s debts must be paid, any money due to the decedent must be collected, his or her real and personal property must be collected and their value determined, and all said property must be distributed as set for in the decedent’s will. 2. The three phases of probate include: pre-probate, the actual probate of the will, and estate administration. 3. It is the personal administrator that begins the probate proceedings. 4. Will contests occur during the actual probate of the estate phase. 5. The venue for filing estate administration is always the probate court in all 50 states to make it easier on the personal representative.
Virtual law offices present new issues in protecting the___________ of client information transmitted or available over the Internet
Fill in the blank(s) with correct word
Which of the following information should appear on the closing statement?
a. That the time for creditors to file claims has expired. b. That the estate has been fully administered, with all taxes and claims having been paid, settled, or disposed of. c. That the assets of the estate have been distributed to those entitled thereto. d. All of the above.
What type of business entity is a business where two or more persons co-own a business for profit where each partner is individually liable for all partnership debts?
a. Limited partnership b. General partnership c. Limited liability partnership d. Limited liability company