Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

When determining whether a person has testamentary capacity,a court must only determine whether the person was of sound mind.

Accepted Answer

A) True 
 B)False

Question 3

A will that the testator writes and signs in his or her own handwriting is called a ________ will.

Accepted Answer

A)  Penned
B)  Holographic
C)  Invalid
D)  Penciled
E)  Pencil and pennedF) A) and E)
G) C) and D)

Question 4

Wills are ________,meaning that testators can change them.

Accepted Answer

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

Question 5

A settlor is not allowed to revoke a trust unless he or she reserves a right to revoke the trust.

Accepted Answer

A) True 
 B)False

Question 6

[Will Formalities] Mark decided he wanted a will.Mark contacted Anthony,a reputable attorney with an expertise in estate planning.In their initial meeting,Mark described the property he owned and how he wished it to be distributed upon his death.Mark also specified his funeral arrangements.Anthony drew up the will and provided Mark with a draft.Mark made some minor revisions,which Anthony incorporated.Mark and Anthony went over the will one last time,in the presence of Anthony's administrative assistants,Stacy and Jason.Mark was satisfied with the will and signed it.Two years later,Mark wanted to revise his will to add his new wife,Karen.The document named Karen as the primary beneficiary instead of Mark's brother,John.Mark handwrote these provisions on a thin cutting board and labeled it "codicil," signed it,and attached it to his will.Mark unexpectedly dies and Karen and John dispute who should receive the majority of Mark's assets.
-Which of the following statements is true regarding the will Anthony drafted?

Accepted Answer

A)  It fails to meet the signature requirement.
B)  It fails to meet the requirements of a valid will because Anthony did not ask for a doctor's evaluation to determine if Mark was of sound mind.
C)  It fails to meet the requirement of attestation by witnesses.
D)  It meets all of the requirements for a valid will.
E)  It fails to meet the writing requirement.F) B) and D)
G) B) and E)

Question 7

What is the term for a person,such as Mark,who writes a will?

Accepted Answer

A)  Settlor
B)  Testator
C)  Intestator
D)  Trustor
E)  TrusteeF) A) and C)
G) None of the above

Question 8

As discussed in the case text In re Estate of Duke,what type of evidence may a party produce to demonstrate a will is not ambiguous?

Accepted Answer

A)  Circumstantial evidence
B)  Indirect evidence
C)  Direct evidence
D)  Extrinsic evidence
E)  CumulativeF) B) and C)
G) A) and B)

Question 9

Which of the following refers to all or part of an individual's body that the individual wishes to donate upon his or her death?

Accepted Answer

A)  Donor gifts
B)  Advance directives
C)  Disposition of remains
D)  Anatomical gifts
E)  Organ donationF) None of the above
G) C) and E)

Question 10

Which of the following statements is false regarding codicils?

Accepted Answer

A)  They are separate documents from a will.
B)  It is read with the will as a unit.
C)  They add or change a previous will or codicil.
D)  To be valid,they have the same requirements as a will.
E)  A testator can only make two codicils before he or she is required to write a new will.F) C) and D)
G) C) and E)

Question 11

A gift of real property by will is known as a ________.

Accepted Answer

A)  Grant
B)  Bestowment
C)  Devise
D)  Bequeath
E)  BehestF) All of the above
G) A) and C)

Question 12

Distribution ________ means distributing an estate by the individual.

Accepted Answer

A)  Per ambulatory
B)  Per stirpes
C)  Per behest
D)  Per clear
E)  Per capitaF) A) and B)
G) None of the above

Question 13

________ statutes are state laws that outline how a person's property will be distributed if he or she dies without a will.

Accepted Answer

A)  Testacy
B)  Intestacy
C)  Probate
D)  Testate
E)  WillF) None of the above
G) C) and E)

Question 14

What was the result in the case text McDaniel v.McDaniel,where brothers were fighting over their father's estate,Charles accused Jerry of undue influence and fraud,where Jerry convinced their father that Charles had stolen all of his money and as a result,the father created a new will and left Charles nothing?

Accepted Answer

A)  There was sufficient evidence of only undue influence.
B)  There was sufficient evidence of both fraud and undue influence.
C)  There was sufficient evidence of only fraud.
D)  There was insufficient evidence the father's actions were motivated by Jerry.
E)  There was insufficient evidence the father 's actions were a result of fraud.F) B) and E)
G) A) and E)

Question 15

Which type of trust is designed to take effect on the completion of a specified behavior?

Accepted Answer

A)  Family incentive
B)  Living
C)  Involuntary
D)  Constructive
E)  ImpliedF) A) and B)
G) D) and E)

Question 16

What is the effect of Mark's codicil since it was written on a cutting board?

Accepted Answer

A)  It is invalid because a codicil must be on paper.
B)  It is invalid because a codicil must be electronic
C)  It is invalid because a codicil must be either electronic or on paper.
D)  It is valid because he attached it to the will.
E)  As long as it is handwritten,it is valid.F) A) and D)
G) C) and E)

Question 17

Who is the recipient of the interest or appreciation generated by a trust?

Accepted Answer

A)  Remainderman
B)  Income beneficiary
C)  Beneficiary
D)  Trustee
E)  LegateeF) A) and E)
G) A) and D)

Question 18

What was the result in the Case Opener,the case involving whether a bank account and cash not specifically referenced in the will passed to the sole beneficiary named in a will or through intestate succession when the will did not contain a residuary clause?

Accepted Answer

A)  That the land passed to the state because the disposition of it was unclear.
B)  That the land passed to the sole beneficiary named in the will because it was apparent that the deceased meant for him to receive her entire estate.
C)  That the value of the land and bank account would be split on a 50/50 basis between the sole beneficiary named in the will and the relatives who would inherit through intestate succession.
D)  That the land would have passed through intestate succession if the decedent had any issue,meaning children or grandchildren;but that because she had no children or grandchildren,the land and bank account passed to the sole beneficiary of the will.
E)  That the estate was partially intestate and that the bank account and land at issue passed through intestate succession.F) A) and E)
G) A) and B)

Question 19

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 mutual will
B)  An estate will
C)  A presumptive will
D)  A co-will
E)  A planned willF) B) and D)
G) C) and D)

Question 20

________ are ambulatory,________ are not unless they contain special reservations.

Accepted Answer

A)  Wills;codicils
B)  Trusts;wills
C)  Trusts;contracts
D)  Wills;trusts
E)  Wills;contractsF) A) and B)
G) None of the above

Exam 52: Wills and Trusts

When determining whether a person has testamentary capacity,a court must only determine whether the person was of sound mind.

Correct Answer
verified

are ambulatory, are not unless they contain special reservations.

Correct Answer
verified

Wills are ________,meaning that testators can change them.

Correct Answer
verified

What is the term for a person,such as Mark,who writes a will?

Correct Answer
verified

Which type of trust is designed to take effect on the completion of a specified behavior?

Correct Answer
verified

Correct Answer
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Which of the following statements is false regarding codicils?

Correct Answer
verified

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

What was the result in the Case Opener,the case involving whether a bank account and cash not specifically referenced in the will passed to the sole beneficiary named in a will or through intestate succession when the will did not contain a residuary clause?

Correct Answer
verified

A settlor is not allowed to revoke a trust unless he or she reserves a right to revoke the trust.

Correct Answer
verified

What is the effect of Mark's codicil since it was written on a cutting board?

Correct Answer
verified

Who is the recipient of the interest or appreciation generated by a trust?

Correct Answer
verified

Correct Answer
verified

________ statutes are state laws that outline how a person's property will be distributed if he or she dies without a will.

Correct Answer
verified

A will that the testator writes and signs in his or her own handwriting is called a ________ will.

Correct Answer
verified

As discussed in the case text In re Estate of Duke,what type of evidence may a party produce to demonstrate a will is not ambiguous?

Correct Answer
verified

Distribution ________ means distributing an estate by the individual.

Correct Answer
verified

Which of the following refers to all or part of an individual's body that the individual wishes to donate upon his or her death?

Correct Answer
verified

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

Correct Answer
verified

A gift of real property by will is known as a ________.

Correct Answer
verified

Exam 52: Wills and Trusts

When determining whether a person has testamentary capacity,a court must only determine whether the person was of sound mind.

Correct AnswerverifiedShow Answer

________ are ambulatory,________ are not unless they contain special reservations.

Correct AnswerverifiedShow Answer

Wills are ________,meaning that testators can change them.

Correct AnswerverifiedShow Answer

What is the term for a person,such as Mark,who writes a will?

Correct AnswerverifiedShow Answer

Which type of trust is designed to take effect on the completion of a specified behavior?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements is false regarding codicils?

Correct AnswerverifiedShow Answer

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 AnswerverifiedShow Answer

What was the result in the Case Opener,the case involving whether a bank account and cash not specifically referenced in the will passed to the sole beneficiary named in a will or through intestate succession when the will did not contain a residuary clause?

Correct AnswerverifiedShow Answer

A settlor is not allowed to revoke a trust unless he or she reserves a right to revoke the trust.

Correct AnswerverifiedShow Answer

What is the effect of Mark's codicil since it was written on a cutting board?

Correct AnswerverifiedShow Answer

Who is the recipient of the interest or appreciation generated by a trust?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

________ statutes are state laws that outline how a person's property will be distributed if he or she dies without a will.

Correct AnswerverifiedShow Answer

A will that the testator writes and signs in his or her own handwriting is called a ________ will.

Correct AnswerverifiedShow Answer

As discussed in the case text In re Estate of Duke,what type of evidence may a party produce to demonstrate a will is not ambiguous?

Correct AnswerverifiedShow Answer

Distribution ________ means distributing an estate by the individual.

Correct AnswerverifiedShow Answer

Which of the following refers to all or part of an individual's body that the individual wishes to donate upon his or her death?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A gift of real property by will is known as a ________.

Correct AnswerverifiedShow Answer

Correct Answer
verified

are ambulatory, are not unless they contain special reservations.

Correct Answer
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