In estate planning, who is a person that creates a valid will?

Prepare for the DEAD Legal and Regulatory Test. Use flashcards and multiple choice questions with detailed hints and explanations for each query, ensuring readiness for your exam!

In estate planning, the individual who creates a valid will is referred to as the testator. This person expresses their wishes regarding the distribution of their assets and other matters after their death. The will serves as a formal document that outlines how the testator wants their estate to be managed, including appointing guardians for minor children, if applicable, and naming an executor to carry out the directives specified in the will.

The concept of the testator is rooted in legal definitions and processes related to wills and estates, emphasizing the personal intent and authority of the individual creating the will. Understanding this role is essential for anyone involved in estate planning, as it establishes the foundation upon which the entire estate distribution process is built. The other roles within an estate—such as the administrator, who manages estates that do not have a will, the executor, who is appointed to implement the terms of the will, and the beneficiary, who is the recipient of the assets—highlight different functions but do not pertain to the actual act of creating a will itself.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy