Exam 1: The Estate Plan and the Purpose and Need for a Will

Who is the only person a testator CANNOT disinherit?

The minor daughter of a decedent can generally be any of the following EXCEPT:

Not everyone can legally make a will.

The sanity sound mind)requirement for any person making a valid will

A written amendment to a will that changes but does not invalidate the will

The testator has no control over the determination of the source from which death taxes will be paid.

If a person wants to donate his or her organs or remains,this request should be made in the:

Which is NOT a reason that many people die without a valid will?

Which is LEAST likely to be used as a substitute for a will?

The administration of an estate in the state where the decedent was domiciled at the time of death

The surviving natural parent is automatically appointed the property guardian for the decedent's minor or incompetent children.

To acquire the authority and powers of the position,a personal representative must be appointed by the testator.

Everyone needs a will.

Land,buildings,and the objects permanently attached to them

Which would be a reason for the creation of a trust?

A man or woman who makes and/or dies with a valid will

An individual or trust institution appointed by a court to care for and manage the property of a minor or an incompetent person

A single person can be a settlor,trustee,and beneficiary.

If a person preplans his or her funeral and burial arrangements,these arrangements should be included in the:

The capital or property of a trust,as opposed to the income,which is the product of the capital