Exam 9: Wills, Trusts, and Probate

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Changes to a will may be published in:

Free
(Multiple Choice)
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Correct Answer:
Verified

B

Which of the following is not an element of a trust?

Free
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Correct Answer:
Verified

D

Wills need not be drafted by attorneys.

Free
(True/False)
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Correct Answer:
Verified

True

A specific bequest is:

(Multiple Choice)
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The attestation clause is used to open the will.

(True/False)
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Which of the following may a person not distribute in a will?

(Multiple Choice)
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Probate is the court-supervised process that takes places after a person dies.

(True/False)
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A will is a document in which an individual provides for the distribution of his or her property upon his or her death.

(True/False)
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A living trust becomes effective

(Multiple Choice)
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A trust is a document in which a person makes provisions for the disposition of all real property.

(True/False)
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Wills fall into two broad categories: holographic and formal.

(True/False)
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A will may not be changed.

(True/False)
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A common element of a will is the fiduciary clause.

(True/False)
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Which of the following is not common to most wills?

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A fiduciary owes a duty of trust to:

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Technically a trust is a situation where the title to property is divided into two parts: legal title and equitable title.

(True/False)
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A person who has the duty of taking care of a person and that person's property is known as

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Which of the following is a reason to change a will?

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A gift by will of specific real property is known as a

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All guardianship documents are drafted by the court.. Multiple Choice

(True/False)
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