Exam 40: Wills and Trusts

Amelia dies without a will.A court appoints Bill to handle the probate of Amelia's estate.The administrator is

Before he dies,Wilson makes out a will.After Wilson dies,the validity of his will must be established.This is accomplished by

Ruth executes a will in 2009 naming her nephew Stan as sole bene?fici?ary.In 2011,Ruth executes another will,naming her niece Tammy as sole beneficiary,but does not state that she is revok?ing the previous will.On Ruth's death

A will is required to be in writing only if real property is being transferred.

Martin's will states,"I leave my gold pocket watch to Laurie." Laurie dies before Martin.This creates a(n)

A will can be an informal document and need not follow state requirements.

Keri's will states,"I give to my sister Liz my condominium in Malibu,California." This is

Edie holds title to Floyd's property under circumstances that,al?though nothing is express,indicate this is apparently only for Floyd's benefit.This is

Dyan executes her will to give "to my nephew Esau my stock in Fargo,Inc." Later,Dyan writes separately,with the same formalities required for a will,to leave the stock to her niece Ginny and cash to Esau.This writing

Witnesses to a will must be mentally competent.

Juli types onto a computer what she intends to be "My Will" and prints it out.Juli has capacity."My Will" is

An express trust is created or declared in definite terms.

The recipient of a legacy is called a devisee.

Regina handwrites her entire will on a legal pad.Regina's will is

The assets in Doug's estate,including the value of his home on Elm Street and its contents,are insufficient to pay in full all of the gifts provided for in his will.His heirs will receive

A will is probated to establish its validity and to carry out the administra?tion of the estate.

A constructive trust is "constructed" by a property owner to fulfill certain unique functions outside the usual bounds of a trust.

An executor is a personal representative appointed by a court for a dece?dent who dies without a will.

If no heirs are found,the property of a decedent is transferred to a charitable organization.

A legacy is a gift of personal property by will.