Planit:Probate Issues and Designating Asset Beneficiaries Exercise Answer Key

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== Question One: == Walter and Alice Black are getting ready to plan for the distribution of their estate. They have told you that their personal use and registered assets are designated to go to the surviving spouse in the event of death. The open investment accounts will go to the estate and then be divided appropriately. The following accounts are subject to probate: personal use. Contents 1 Answer: 2 Answer: 3 Answer: 4 Answer: Answer: Click on the link on the navigation panel to take you directly to the Assets and Liabilities screen. Click on Edit beside Walter’s Managed LIF The Subject to Probate box should be blank. Set the beneficiary to Surviving Spouse Click Save Repeat steps one through five for the following accounts: Alice’s Managed RRSP, Walter’s Non-Managed LRIF, Alice’s Non-Managed RRSP. Click on Edit beside their managed Joint Investments The Subject to Probate box should be blank. Set the beneficiary to Estate Click Save Repeat these steps for the following accounts: Joint Brokerage Account. Click on Edit beside their Personal Use account The Subject to Probate box should be checked. Set the beneficiary to Surviving Spouse Click Save

United States of America
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Argentina
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Brazil
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United Kingdom

== Question One: == {{{Male Name}}} and {{{Female Name}}} {{{Last Name}}} are getting ready to plan for the distribution of their estate. They have told you that their personal use and registered assets are designated to go to the surviving spouse in the event of death. The open investment accounts will go to the estate and then be divided appropriately. The following accounts are subject to probate: personal use. Answer: Click on the link on the navigation panel to take you directly to the Assets and Liabilities screen. Click on Edit beside {{{Male Name}}}’s Managed ISA The Subject to Probate box should be blank. Set the beneficiary to Surviving Spouse Click Save Repeat steps one through five for the following accounts: {{{Female Name}}}’s Managed joint investment, {{{Male Name}}}’s Non-Managed joint brokerage, {{{Female Name}}}’s Non-Managed joint investment. Click on Edit beside their managed Joint Investments The Subject to Probate box should be blank. Set the beneficiary to Estate Click Save Repeat these steps for the following accounts: Joint Brokerage Account. Click on Edit beside their Personal Use account The Subject to Probate box should be checked. Set the beneficiary to Surviving Spouse Click Save

Russia
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China
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Malaysia

== Question One: == {{{Male Name}}} and {{{Female Name}}} {{{Last Name}}} are getting ready to plan for the distribution of their estate. They have told you that their personal use and registered assets are designated to go to the surviving spouse in the event of death. The open investment accounts will go to the estate and then be divided appropriately. The following accounts are subject to probate: personal use. Answer: Click on the link on the navigation panel to take you directly to the Assets and Liabilities screen. Click on Edit beside {{{Male Name}}}’s Managed Managed EPF The Subject to Probate box should be blank. Set the beneficiary to Surviving Spouse Click Save Repeat steps one through five for the following accounts: {{{Female Name}}}’s Managed Non-Managed EPF, {{{Male Name}}}’s Non-Managed joint investment, {{{Female Name}}}’s Non-Managed Non-Managed EPF. Click on Edit beside their managed Joint Investments The Subject to Probate box should be blank. Set the beneficiary to Estate Click Save Repeat these steps for the following accounts: Joint Brokerage Account. Click on Edit beside their Personal Use account The Subject to Probate box should be checked. Set the beneficiary to Surviving Spouse Click Save

Singapore

== Question One: == {{{Male Name}}} and {{{Female Name}}} {{{Last Name}}} are getting ready to plan for the distribution of their estate. They have told you that their personal use and registered assets are designated to go to the surviving spouse in the event of death. The open investment accounts will go to the estate and then be divided appropriately. The following accounts are subject to probate: personal use. Answer: Click on the link on the navigation panel to take you directly to the Assets and Liabilities screen. Click on Edit beside {{{Male Name}}}’s Managed joint brokerage The Subject to Probate box should be blank. Set the beneficiary to Surviving Spouse Click Save Repeat steps one through five for the following accounts: {{{Female Name}}}’s Managed n/a, {{{Male Name}}}’s Non-Managed n/a, {{{Female Name}}}’s Non-Managed n/a. Click on Edit beside their managed Joint Investments The Subject to Probate box should be blank. Set the beneficiary to Estate Click Save Repeat these steps for the following accounts: Joint Brokerage Account. Click on Edit beside their Personal Use account The Subject to Probate box should be checked. Set the beneficiary to Surviving Spouse Click Save

Hong Kong
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India
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Caribbean
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