Future Business Leaders of America (FBLA) Business Law Practice Exam

What is the primary purpose of a will?

1. To establish a business

2. To provide for the distribution of property upon death

3. To appoint a guardian for minors

4. To protect assets from taxes

The correct answer is: To provide for the distribution of property upon death

The primary purpose of a will is to provide for the distribution of property upon death. A will acts as a legal document that outlines how a person wishes their assets, including money, property, and personal belongings, to be distributed after their death. When an individual passes away, their estate, which consists of everything they owned, must be divided among heirs and beneficiaries according to their wishes as specified in the will. This ensures that the deceased person's intentions are honored and can help minimize disputes among surviving family members. A will can also help ensure that specific items or amounts of money are left to particular individuals, ensuring that personal legacies are maintained. While appointing a guardian for minors is also a key function that can be addressed in a will, it is considered a secondary purpose compared to the overall distribution of property. Establishing a business and protecting assets from taxes are important financial considerations, but they do not fall within the core function of a will itself, which centers primarily on the management of property after the individual's death.