Question 1

In most states, children under a certain age cannot make valid wills.

Accepted Answer

A) True 
 B)False  True

Question 2

Renunciation is a statutory right of a surviving spouse to give up her statutory share in the estate.

Accepted Answer

A) True 
 B)False  False

Question 3

If a will was burned in an electrical fire that destroyed the testator's home, it will be presumed to be revoked.

Accepted Answer

A) True 
 B)False  False

Question 4

Upon the death of a beneficiary who held more than a life estate, his interest in the trust reverts to the trustee.

Accepted Answer

A) True 
 B)False

Question 5

If a person dies without a valid will, her property will be distributed according to state statute, even if that distribution
is contrary to the decedent's clear intention.

Accepted Answer

A) True 
 B)False

Question 6

Dan dies without a valid will in a state that uses the Uniform Probate Code.Which of the following is correct?

Accepted Answer

A) If there are no children and no surviving parents, Dan's widow is entitled to the entire estate. 
B) The surviving spouse is entitled to the entire estate regardless of other possible heirs. 
C) If Dan has a parent surviving as well as a wife, then Dan's parent will get one-half of the estate remaining after payment of $50,000 to the wife. 
D) If Dan is survived by his wife and two children from a previous marriage, his wife is entitled to the first $200,000 plus half of the remaining estate. 
A) If there are no children and no surviving parents, Dan's widow is entitled to the entire estate. 
B) The surviving spouse is entitled to the entire estate regardless of other possible heirs. 
C) If Dan has a parent surviving as well as a wife, then Dan's parent will get one-half of the estate remaining after payment of $50,000 to the wife. 
D) If Dan is survived by his wife and two children from a previous marriage, his wife is entitled to the first $200,000 plus half of the remaining estate.

Question 7

Diego, a widower, dies intestate, leaving two surviving children and two grandchildren who are children of his deceased daughter.If Diego's surviving children each take one­third of his estate and the grandchildren each take one-sixth of the estate, this is described legally by the statement that:

Accepted Answer

A) lineal descendants of predeceased children take property per stirpes. 
B) lineal descendants take property per capita. 
C) collateral heirs take the property per stirpes. 
D) lineal descendants and collateral heirs take the property per capita. 
A) lineal descendants of predeceased children take property per stirpes. 
B) lineal descendants take property per capita. 
C) collateral heirs take the property per stirpes. 
D) lineal descendants and collateral heirs take the property per capita.

Question 8

A spouse of a beneficiary and the named executor of a will are considered qualified witnesses by all courts.

Accepted Answer

A) True 
 B)False

Question 9

Probate is the:

Accepted Answer

A) reading of a will by a lawyer. 
B) actual property given away in a will. 
C) process of declaring a person dead. 
D) process of managing a decedent's property. 
A) reading of a will by a lawyer. 
B) actual property given away in a will. 
C) process of declaring a person dead. 
D) process of managing a decedent's property.

Question 10

If a person dies without a valid will and has no heirs or next of kin, her property goes to the state.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following will be acceptable as a witness to a will?

Accepted Answer

A) The testator's spouse 
B) The person named to be executor of the estate 
C) The beneficiary of a testamentary trust 
D) The spouse of a beneficiary 
A) The testator's spouse 
B) The person named to be executor of the estate 
C) The beneficiary of a testamentary trust 
D) The spouse of a beneficiary

Question 12

A valid will must be witnessed.Which of the following statements about witnesses is correct?

Accepted Answer

A) Most states require only one witness to a will. 
B) The witnesses must see the testator write the will. 
C) The witnesses must sign the will. 
D) Under the Uniform Probate Code, witnesses lose any bequests to them in a will they witness. 
A) Most states require only one witness to a will. 
B) The witnesses must see the testator write the will. 
C) The witnesses must sign the will. 
D) Under the Uniform Probate Code, witnesses lose any bequests to them in a will they witness.

Question 13

A beneficiary ordinarily has no right to sell his interest in trust assets before he is entitled to receive the corpus.

Accepted Answer

A) True 
 B)False

Question 14

Charlene drafted a will in 1992 stating as follows: "I hereby leave my 80-acre farm to Arthur, my pure-bred golden retriever to Brian, and $20,000 each to Dana and Ellen." In 1997, Charlene sold her farm and in 1998 her dog died.Charlene died in 2004 without having changed her will and with $15,000 in the bank.If there are no administrative costs or bills to be paid by the estate, what amount will Arthur, Brian, Dana, and Ellen receive under the will?

Accepted Answer

When a will makes a specific bequest of

Question 15

The Uniform Probate Code has been adopted by:

Accepted Answer

A) fewer than half of the states. 
B) all states without variation. 
C) the great majority of states without variation. 
D) the federal government. 
A) fewer than half of the states. 
B) all states without variation. 
C) the great majority of states without variation. 
D) the federal government.

Question 16

A trustee has a duty to make proper allocation of income items.Which of the following statements is true concerning this allocation?

Accepted Answer

A) Ordinary income is allocated to the remainderman. 
B) Ordinary expenses are chargeable to the income beneficiary. 
C) Rents and royalties to the remainderman. 
D) Extraordinary repairs to the income beneficiary. 
A) Ordinary income is allocated to the remainderman. 
B) Ordinary expenses are chargeable to the income beneficiary. 
C) Rents and royalties to the remainderman. 
D) Extraordinary repairs to the income beneficiary.

Question 17

A trust for the establishment and maintenance of a museum would be a charitable trust.

Accepted Answer

A) True 
 B)False

Question 18

A trust:

Accepted Answer

A) is a fiduciary relationship in which one person holds both legal and equitable title to property which is the subject matter of the trust. 
B) may take effect only during the lifetime of the person creating the trust. 
C) may be created by such words as "I leave [certain property] to Swigert in full confidence and hope that Swigert will care for Adamson." 
D) may not be created "to benefit and maintain Southside Park," since this purpose would be too vague to be enforceable. 
A) is a fiduciary relationship in which one person holds both legal and equitable title to property which is the subject matter of the trust. 
B) may take effect only during the lifetime of the person creating the trust. 
C) may be created by such words as "I leave [certain property] to Swigert in full confidence and hope that Swigert will care for Adamson." 
D) may not be created "to benefit and maintain Southside Park," since this purpose would be too vague to be enforceable.

Question 19

If a witness dies prior to the death of the testator, his signature is not counted as a witness unless proof of his handwriting is submitted.

Accepted Answer

A) True 
 B)False

Question 20

A totten trust may also be referred to as a savings account trust.

Accepted Answer

A) True 
 B)False

Exam 50: Trusts and Decedents Estates

In most states, children under a certain age cannot make valid wills.

Renunciation is a statutory right of a surviving spouse to give up her statutory share in the estate.

If a will was burned in an electrical fire that destroyed the testator's home, it will be presumed to be revoked.

Upon the death of a beneficiary who held more than a life estate, his interest in the trust reverts to the trustee.

If a person dies without a valid will, her property will be distributed according to state statute, even if that distribution is contrary to the decedent's clear intention.

Dan dies without a valid will in a state that uses the Uniform Probate Code.Which of the following is correct?

Diego, a widower, dies intestate, leaving two surviving children and two grandchildren who are children of his deceased daughter.If Diego's surviving children each take one­third of his estate and the grandchildren each take one-sixth of the estate, this is described legally by the statement that:

A spouse of a beneficiary and the named executor of a will are considered qualified witnesses by all courts.

Probate is the:

If a person dies without a valid will and has no heirs or next of kin, her property goes to the state.

Which of the following will be acceptable as a witness to a will?

A valid will must be witnessed.Which of the following statements about witnesses is correct?

A beneficiary ordinarily has no right to sell his interest in trust assets before he is entitled to receive the corpus.

The Uniform Probate Code has been adopted by:

A trustee has a duty to make proper allocation of income items.Which of the following statements is true concerning this allocation?

A trust for the establishment and maintenance of a museum would be a charitable trust.

A trust:

If a witness dies prior to the death of the testator, his signature is not counted as a witness unless proof of his handwriting is submitted.

A totten trust may also be referred to as a savings account trust.

Introduction to Law

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Civil Dispute Resolution

Constitutional Law

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Intentional Torts

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Introduction to Contracts

Mutual Assent

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51: The Legal Environment Of Business

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53: Agency.

54: Sales

55: Negotiable Instruments

56: Unincorporated Business Association

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58: Debtor and Creditor Relation

59: Regulation of Business

60: Property.

Filters

Diego, a widower, dies intestate, leaving two surviving children and two grandchildren who are children of his deceased daughter.If Diego's surviving children each take onethird of his estate and the grandchildren each take one-sixth of the estate, this is described legally by the statement that: