Exam 6: Preparation to Draft a Will Checklists and the Conference With the Client

One of the paralegal's duties is to collect complete information about the client,his or her family,and the beneficiaries to be named in the will.

The share of profits or property to which the owners of a business are entitled

What is an annuity?

An agreement or contract to sell real property on an installment basis is:

The client should receive a rough draft of the will.

Which is a government grant that gives an inventor an exclusive right to make,use,and sell an invention?

A condition or specific event that must occur before an agreement or obligation becomes binding is:

Which type of checklist will include a "Patents" heading?

The checklist for family data should include all of the following EXCEPT:

A testator's act of specifically depriving someone who would otherwise be that testator's legal beneficiary

For smaller estates,joint tenancy ownership can prevent additional administration expenses.

Which is tangible personal property?

The monetary amount an item would bring if it were sold on the open market

Which is NOT a disadvantage of using a preprinted will form?

The person who has a superior claim over all others to the benefits of a life insurance contract

Which is an example of a liability? A)Automobile loan B)Individual retirement account IRA) C)Partnership agreement D)ATM card

An interest in real property

Debts established in the course of business that are currently due from others

The family home and adjoining land

One who wastes money or spends it unwisely