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1.
Which of the following may be excluded from financial means testing?
Both life insurance cash values and supplemental needs trusts. Assets held in certain trusts or in life insurance cash values are usually excluded from means testing.
2.
You can open up a custodial investment account in your child's name.
True. This is a good way to get your child started on investing.
3.
All pregnancy costs are covered by health insurance.
False. This is why anyone planning to get pregnant should investigate what is covered.
4.
The Coverdell savings account is a means of saving for your child's _______.
Education costs. The Coverdell and the 529 are two plans by which you can start saving up for future college expenses.
5.
If you (or you and your partner) do not designate a guardian for your child in your will, and you both die, who will then appoint a guardian for the child?
A court. If it is not spelled out in a will, then a court will designate a new guardian.