Question 1

A personal representative of an estate makes sure that gifts of real and personal property go to the correct beneficiaries,persons who inherit under the will.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a uniform law proposed by the National Conference of Commissioners on Uniform State Laws that provides guidance in the area of estate planning?

Accepted Answer

A)   The Uniform Probate Code
B)   The National Will Act
C)   The Uniform Will Act
D)   The Federal Probate and Will Act
E)   The National Probate CodeF) A) and B)
G) C) and D)

Question 3

Which of the following is true regarding Monique's claim that Linda unfairly coerced Willy into naming her as a beneficiary in the written will and that the written will is ineffective?

Accepted Answer

A)   The written will is ineffective if Willy wrote it under circumstances by which Linda took advantage of his weak physical or emotional condition to persuade him to write the will leaving her everything.
B)   The written will is ineffective only if a witness is available who will testify that Willy admitted that he would never have left all his possessions to Linda if he were not dependent on her for his wellbeing.
C)   There is a presumption of undue influence based upon the age difference between Linda and Willy.
D)   Linda is legally entitled to a presumption of no undue influence because she was Willy's girlfriend at the time the will was written.
E)   Linda is legally entitled to a presumption of no undue influence only if she can establish through the testimony of a disinterested witness that Willy had asked her to marry him.F) B) and E)
G) C) and D)

Question 4

A[n] ______ allows a person to transfer property to another person with the property to be used for the benefit of a third person.

Accepted Answer

A)   Probate
B)   Trust
C)   Command
D)   Executor
E)   AllocationF) A) and E)
G) B) and D)

Question 5

A person may revoke a will by physically destroying it.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following was the result in Mattison v.Social Security Commissioner,the case in the text involving the issue of whether twins conceived after the death of the father via artificial insemination using his sperm could inherit as children under state intestacy law thereby becoming entitled to social security survivors' benefits?

Accepted Answer

A)   That because the twins were conceived and born after the father's death, they did not survive him as heirs legally and were not entitled to any succession rights.
B)   That because the mother had permission from the father to use the sperm after his death, the twins were considered legal heirs and were entitled to succession rights.
C)   That regardless of whether or not the mother had permission from the father to use the sperm after his death, the twins were considered legal heirs and were entitled to succession rights.
D)   That because the twins were conceived within 30 days of the decedent's death, they were considered legal heirs and entitled to succession rights.
E)   That because the mother was alive and the twins were conceived and born after the father's death, they did not survive him as heirs legally and were not entitled to any succession rights; otherwise, had the mother been deceased, the twins would have been entitled to succession rights in regard to the father as well as the mother.F) All of the above
G) A) and E) A

Question 7

List the two components that are usually components of trusts and discuss their function.

Accepted Answer

Trusts usually have two compon...

Question 8

Which of the following is false a trust?

Accepted Answer

A)   Interest may be generated by a trust.
B)   Income may be paid to a person identified as an income beneficiary.
C)   A person entitled to income must be the person entitled to the trust corpus.
D)   A trust may be created to protect a pet.
E)   A trust may be created for tax reasons.F) A) and B)
G) C) and D)

Question 9

Ricardo's state does not allow a testamentary disposition to a pet; therefore,Ricardo should consider placing funds for his pet in a trust which would be allowed.

Accepted Answer

A) True 
 B)False

Question 10

When someone dies,a[n] ______ chosen by the testator collects the testator's property,pays debts and taxes,and makes sure the remainder of the will is distributed.

Accepted Answer

A)   Inheritance devisor
B)   Inheritance regulator
C)   Trustee
D)   Personal representative
E)   Personal deviseeF) A) and D)
G) A) and C)

Question 11

Which of the following is true regarding a party that cannot be a witness to a will?

Accepted Answer

A)   A beneficiary may not be a witness to a will.
B)   A spouse may not be a witness to a will.
C)   An adult child may not be a witness to a will.
D)   An adult child may be a witness to a will, but no other relative may be a witness to a will.
E)   A spouse may be a witness to a will, but no other relative may be a witness to a will.F) B) and D)
G) B) and E) A

Question 12

Which of the following is true regarding Bruce's statement that the revision to the will meant nothing?

Accepted Answer

A)   Regardless of whether or not the change was made by a lawyer, it was ineffective because in order to revise a will, the initial will must be revoked and a completely new will written.
B)   The revision to the will was ineffective because it was not done by a lawyer.
C)   The revision to the will was ineffective, not because it was done by Carol, but because it improperly expressed personal opinion of an individual which by law must be absent from a will.
D)   Assuming other requirements are met, the change to the will is not objectionable on the basis that it was done by Carol or on the basis that it expressed a personal opinion regarding Bruce.
E)   The change to the will is not objectionable so long as Amy can prove by a preponderance of the evidence that Bruce was indeed having an affair with Sharon.F) None of the above
G) D) and E)

Question 13

Wills are ______,meaning that testators can change them.

Accepted Answer

A)   Changeable
B)   Revocable
C)   Retrievable
D)   Rescuable
E)   AmbulatoryF) A) and D)
G) C) and D)

Question 14

A ______ is a written document executed when the principal is in good mental health that allows an agent to make medical decisions for the principal at some later date when the principal can no longer make decisions.

Accepted Answer

A)   Durable power of attorney
B)   Medical care proxy
C)   Medical decision contract
D)   Medical agent proxy
E)   Living health proxyF) None of the above
G) A) and C)

Question 15

Which of the following is a will that two or more testators execute in which they leave property to each other as long as the survivor agrees that when he or she dies,the remaining property will be distributed according to a plan created by all testators?

Accepted Answer

A)   A planned will
B)   An estate will
C)   A mutual will
D)   A co-will
E)   A presumptive willF) B) and C)
G) None of the above C

Question 16

The Uniform Anatomical Gifts Act (UAGA)provides that any individual age 21 or older may give all or any part of his or her body to a donee on death so long as the closest surviving next-of-kin does not object.

Accepted Answer

A) True 
 B)False

Question 17

An implied trust is also called a[n] ______ trust.

Accepted Answer

A)   Untrue
B)   Involuntary
C)   Reviewed
D)   Judicial
E)   TrustlessF) B) and C)
G) C) and D)

Question 18

A living will is a document by which a person expresses his or her wishes regarding medical treatment desired if an accident or illness prevents him or her from participating in medical decisions.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is the appropriate term for the process by which an individual decides what to do with his or her real and personal property during and after life?

Accepted Answer

A)   Life planning
B)   Estate planning
C)   Probate succession
D)   Allocation planning
E)   Asset allocationF) A) and B)
G) B) and D)

Question 20

A person who creates a trust is knows as a _____.

Accepted Answer

A)   Benefactor
B)   Trustor
C)   Trustee
D)   Settlor
E)   SettleeF) A) and C)
G) B) and E)

Exam 52: Wills and Trusts

A personal representative of an estate makes sure that gifts of real and personal property go to the correct beneficiaries,persons who inherit under the will.

Correct Answer
verified

Which of the following is a uniform law proposed by the National Conference of Commissioners on Uniform State Laws that provides guidance in the area of estate planning?

Correct Answer
verified

Which of the following is true regarding Monique's claim that Linda unfairly coerced Willy into naming her as a beneficiary in the written will and that the written will is ineffective?

Correct Answer
verified

A[n] ______ allows a person to transfer property to another person with the property to be used for the benefit of a third person.

Correct Answer
verified

A person may revoke a will by physically destroying it.

Correct Answer
verified

Correct Answer
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A

List the two components that are usually components of trusts and discuss their function.

Correct Answer
verified
Trusts usually have two compon...
View Answer

Which of the following is false a trust?

Correct Answer
verified

Ricardo's state does not allow a testamentary disposition to a pet; therefore,Ricardo should consider placing funds for his pet in a trust which would be allowed.

Correct Answer
verified

When someone dies,a[n] ______ chosen by the testator collects the testator's property,pays debts and taxes,and makes sure the remainder of the will is distributed.

Correct Answer
verified

Which of the following is true regarding a party that cannot be a witness to a will?

Correct Answer
verified
A

Which of the following is true regarding Bruce's statement that the revision to the will meant nothing?

Correct Answer
verified

Wills are ______,meaning that testators can change them.

Correct Answer
verified

A ______ is a written document executed when the principal is in good mental health that allows an agent to make medical decisions for the principal at some later date when the principal can no longer make decisions.

Correct Answer
verified

Which of the following is a will that two or more testators execute in which they leave property to each other as long as the survivor agrees that when he or she dies,the remaining property will be distributed according to a plan created by all testators?

Correct Answer
verified
C

The Uniform Anatomical Gifts Act (UAGA)provides that any individual age 21 or older may give all or any part of his or her body to a donee on death so long as the closest surviving next-of-kin does not object.

Correct Answer
verified

An implied trust is also called a[n] ______ trust.

Correct Answer
verified

A living will is a document by which a person expresses his or her wishes regarding medical treatment desired if an accident or illness prevents him or her from participating in medical decisions.

Correct Answer
verified

Which of the following is the appropriate term for the process by which an individual decides what to do with his or her real and personal property during and after life?

Correct Answer
verified

A person who creates a trust is knows as a _____.

Correct Answer
verified

Exam 52: Wills and Trusts

A personal representative of an estate makes sure that gifts of real and personal property go to the correct beneficiaries,persons who inherit under the will.

Correct AnswerverifiedShow Answer

Which of the following is a uniform law proposed by the National Conference of Commissioners on Uniform State Laws that provides guidance in the area of estate planning?

Correct AnswerverifiedShow Answer

Which of the following is true regarding Monique's claim that Linda unfairly coerced Willy into naming her as a beneficiary in the written will and that the written will is ineffective?

Correct AnswerverifiedShow Answer

A[n] ______ allows a person to transfer property to another person with the property to be used for the benefit of a third person.

Correct AnswerverifiedShow Answer

A person may revoke a will by physically destroying it.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedA

List the two components that are usually components of trusts and discuss their function.

Correct AnswerverifiedTrusts usually have two compon...View AnswerShow Answer

Which of the following is false a trust?

Correct AnswerverifiedShow Answer

Ricardo's state does not allow a testamentary disposition to a pet; therefore,Ricardo should consider placing funds for his pet in a trust which would be allowed.

Correct AnswerverifiedShow Answer

When someone dies,a[n] ______ chosen by the testator collects the testator's property,pays debts and taxes,and makes sure the remainder of the will is distributed.

Correct AnswerverifiedShow Answer

Which of the following is true regarding a party that cannot be a witness to a will?

Correct AnswerverifiedA

Which of the following is true regarding Bruce's statement that the revision to the will meant nothing?

Correct AnswerverifiedShow Answer

Wills are ______,meaning that testators can change them.

Correct AnswerverifiedShow Answer

A ______ is a written document executed when the principal is in good mental health that allows an agent to make medical decisions for the principal at some later date when the principal can no longer make decisions.

Correct AnswerverifiedShow Answer

Which of the following is a will that two or more testators execute in which they leave property to each other as long as the survivor agrees that when he or she dies,the remaining property will be distributed according to a plan created by all testators?

Correct AnswerverifiedC

The Uniform Anatomical Gifts Act (UAGA)provides that any individual age 21 or older may give all or any part of his or her body to a donee on death so long as the closest surviving next-of-kin does not object.

Correct AnswerverifiedShow Answer

An implied trust is also called a[n] ______ trust.

Correct AnswerverifiedShow Answer

A living will is a document by which a person expresses his or her wishes regarding medical treatment desired if an accident or illness prevents him or her from participating in medical decisions.

Correct AnswerverifiedShow Answer

Which of the following is the appropriate term for the process by which an individual decides what to do with his or her real and personal property during and after life?

Correct AnswerverifiedShow Answer

A person who creates a trust is knows as a _____.

Correct AnswerverifiedShow Answer

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Correct Answer
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A

Correct Answer
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Trusts usually have two compon...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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A

Correct Answer
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C

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