Exam 51: Decedents Estates and Trusts

In order for a trust to be created, who must be able to hold legal title?

A holographic will is an unwitnessed will that is written by the testator entirely by hand.

A will, to be effective, always must be dated.

An individual who desires to make provisions that will be effective only on her death is said to have: _______.

When distributees stand in different degrees of relationship: __________.

Tuttle died at age 96, leaving a will that she made at age 40 that provided that her three children would share her estate equally. At the time of her death, only one child, Anna, was living. Tuttle's two deceased children, Bill and Caroline, each had two children who were living at the time of Tuttle's death. Anna is claiming that she is entitled to the entire estate because the bequests to Bill and Caroline lapsed upon their deaths prior to Tuttle's death. How will the estate be settled?

When a person is in an irreversible, incurable condition his ___________ gives instructions on 'heroic measures' and medical treatments if they become unable to express their wishes.

Where a testatrix executes a will and later has a child: __________.

The relatives of an individual who dies without a valid will may acquire title to the decedent's property through: __________.

A trustee may keep all matters associated with the trust secret.

A beneficiary of personal property by will may be called a devisee.

A decedent's transfer of $10,000 to a trustee, to be held in trust for A, will fail to create a valid trust if: __________.

Testamentary intent means the testator understands that certain persons will become the owners of certain property upon her death.

A bequest of a pearl necklace is a: __________.

A trust is invalid if a beneficiary lacks capacity.

One desiring to leave the balance of an estate to a specified person or group after specific bequests are satisfied may do so by making a residuary bequest in a will.

Statutes often require that the attestation of witnesses be made in the presence of the testator and in the presence of each other.

Suppose Bob dies intestate leaving Dina, his a widow, and two children, Ed and Fred, with five grandchildren. If the estate is distributed per stirpes: __________.

Which of the following is an incorrect statement concerning trusts?

A gift of personal property by will is called a(n) _________, and the beneficiary is called a(n) _________.