Wills and Trusts
50 questions available
Questions
What is the legal term for a person who makes a will?
View answer and explanationWhat is the minimum age for executing a will in most states and under the Uniform Probate Code (UPC)?
View answer and explanationA gift of real estate by will is generally called what?
View answer and explanationWhat is the term for a will that is completely in the handwriting of the testator?
View answer and explanationWhat happens to a legacy if the legatee dies before the testator and has no surviving descendant in a close blood relationship to the testator?
View answer and explanationA written instrument that amends or revokes provisions in a will is known as a:
View answer and explanationWhich of the following is NOT an essential element of a trust?
View answer and explanationWhat type of trust is created by a grantor during their lifetime?
View answer and explanationIn the case of Shaw Family Archives, Ltd. v. CMG Worldwide, Inc., why did the court rule that Marilyn Monroe's will could not bequeath postmortem publicity rights?
View answer and explanationA trust created when a grantor deposits funds into an account in their own name with instructions that the funds should go to a specific beneficiary upon the grantor's death is known as a:
View answer and explanationWhat is the legal term for the process of establishing a will's validity and carrying out the administration of the estate through a court-supervised process?
View answer and explanationUnder intestacy laws, if a person dies leaving a surviving spouse and two children, how is the estate typically distributed?
View answer and explanationWhat is the difference between distributing an estate per stirpes and per capita?
View answer and explanationWhat is the primary purpose of a living will?
View answer and explanationWhat is the legal effect of a divorce on a will made before the divorce?
View answer and explanationWhat type of trust is imposed by a court in the interests of equity and fairness when someone wrongfully holds legal title to property?
View answer and explanationWhat is the primary difference between a revocable living trust and an irrevocable living trust?
View answer and explanationUnder the Uniform Probate Code, what happens if witnesses to a will do not sign in the presence of one another?
View answer and explanationWhat is the legal term for when property transfers to the state because a decedent has no surviving heirs or kin?
View answer and explanationWhich of the following is an example of a general bequest?
View answer and explanationWhat is a durable power of attorney primarily used for in estate planning?
View answer and explanationIn the case In re Estate of Pallister, the court presumed Pallister did not intend to revoke her will because:
View answer and explanationAn oral will made before witnesses during a testator's last illness is known as what?
View answer and explanationWhat is the primary function of a health-care power of attorney?
View answer and explanationUnder the concept of 'sound mind' for testamentary capacity, which of these is NOT a required element?
View answer and explanationWhat is the primary benefit of a living trust as an estate-planning option?
View answer and explanationIn the context of trust administration, what does it mean for a trustee to 'invade' the principal?
View answer and explanationWhich of the following is NOT a method of revoking a will?
View answer and explanationIf a will leaves a gift of $29 million to a nursing home on the condition that the funds be used only to help 'white' patients, what is the likely outcome?
View answer and explanationIn the context of intestacy, who are considered collateral heirs?
View answer and explanationWhat is the primary characteristic of a spendthrift trust?
View answer and explanationWhat is an executor's role in estate planning?
View answer and explanationUnder intestacy laws, what are the inheritance rights of a legally adopted child?
View answer and explanationWhat is the general rule for how a trustee must allocate ordinary receipts and expenses versus extraordinary ones?
View answer and explanationIn the case Cinquemani v. Lazio, what was the primary reason the court imposed a constructive trust on the pizzeria business?
View answer and explanationIf a will fails to name a trustee for a testamentary trust, what is the result?
View answer and explanationWhat is the term for the process where legatees receive reduced benefits because the assets of an estate are insufficient to pay all general bequests in full?
View answer and explanationWhat is a 'family settlement agreement' in the context of probate?
View answer and explanationWhat does a will being 'testate' signify?
View answer and explanationIn the Exhibit 50-1 excerpt of the Will of Diana, Princess of Wales, who is appointed as the primary executor?
View answer and explanationWhat is the purpose of a will substitute?
View answer and explanationCan a court infer undue influence if a nurse caring for a testator at the time of death is named as the sole beneficiary, to the exclusion of all family members?
View answer and explanationWhat is the general duty of care for a trustee?
View answer and explanationAccording to the Exhibit on Diana's will, what happens to a child's share if that child dies within three months of Diana's death but has children of their own who survive?
View answer and explanationWhen is a person said to have died intestate?
View answer and explanationCan a person create a trust for a purpose that is illegal or against public policy?
View answer and explanationIn the case of a revocable living trust, who is typically responsible for paying income taxes on the trust earnings?
View answer and explanationIf a second will is executed but does not contain an express declaration revoking a prior will, what is the legal result?
View answer and explanationWhat is an administrator in the context of estate law?
View answer and explanationUnder the Uniform Probate Code, how is the elective share of a surviving spouse determined?
View answer and explanation