Estate planning crossword: Answers
- Posted by Palladium Wealth Partners
- On November 14, 2019
- 0 Comments
In broad terms, estate planning is about planning who gets what assets, at what time and in what manner upon your passing. Two key areas of estate planning are managing taxation and asset protection.
In our special crossword, we covered the different components relating to the planning of your estate. Now, here are the answers! Check out how you went below.
Please note: We have provided links to relevant sections of the Financial Knowledge Centre to help you learn more about the areas covered by the questions.
Estate Planning Crossword
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Crossword questions and answers
2. A type of superannuation death benefit nomination that brings more certainty as to who and how benefits are received upon your passing. (Answer: Binding)
4. An __________ care directive is a document that describes your future preferences for medical treatment in anticipation of a time when you may become unable to express them. (Answer: Advanced)
6. Individuals or organisations that will benefit from your will. (Answer: Beneficiaries)
8. A superannuation beneficiary can include, for example, your spouse, your child of any age or anyone who has an __________ relationship with you. (Answer: Interdependency)
9. A type of trust established upon your passing to hold assets for the benefit of your beneficiaries. (Answer: Testamentary)
11. A buy/sell agreement is a legal agreement made between owners of a business. What is a common funding mechanism for a buy/sell agreement? (Answer: Insurance)
12. A person that is the administrator of your will. (Answer: Executor)
1. A power of attorney is typically used to enable someone else to act on your behalf, particularly with regards to __________ decisions. (Answer: Financial)
3. An asset that is not necessarily distributed via your will upon your passing. (Answer: Superannuation)
5. An enduring __________ is a role that generally gives someone legal authority to make medical and life decisions on your behalf. (Answer: Guardianship)
7. If you pass away without a will or an invalid will, you are said to have died __________. (Answer: Intestate)
10. The period at which an estate is taxed at individual marginal rates is referred to as the three __________ rule. (Answer: Year)