Exam 52: Wills and Trusts

Which of the following occurs when a testator wrote a will under circumstances in which a person the testator trusted took advantage of the testator's weak physical or emotional condition to persuade the testator to write the will in a particular way?

A[n] ______ trust is a type of trust created by a court, not a settlor.

Which of the following was the result on appeal in In re the Estate of Charles Kuralt, the case in the text involving whether a letter the deceased sent to a companion was effective to convey property?

Which of the following was the result in the Case Opener, the case involving whether a bank account and cash passed to the sole beneficiary named in a will or through intestate succession when the will did not contain a residuary clause and did not specifically reference the land and bank account at issue?

A[n] ______ trust is created by a court to hold property in trust for its rightful owner.

An implied trust is also called a[n] ______ trust.

Which of the following occurs when a testator relied on false statements when he or she made a will?

The Uniform Anatomical Gifts Act (UAGA) provides that any individual age 21 or older may give all or any part of his or her body to a donee on death so long as the closest surviving next-of-kin does not object.

Ricardo's state does not allow a testamentary disposition to a pet; therefore, Ricardo should consider placing funds for his pet in a trust which would be allowed.

"Secretary Visits." Carol wrote a will leaving half of her assets to her husband, Bruce, and half to her adult daughter from a previous marriage, Amy. Carol, however, found out that Bruce had been spending a lot of time with his secretary, Sharon. Angrily, Carol typed on a new piece of paper that she stapled to her will, "You skunk, Bruce, you take nothing. Amy gets it all." She then signed her name. Carol then took the will to her best friend, Betsy, who signed as a witness verifying that Carol meant for Bruce to take nothing. Carol was struck by lightning a few days later and died. Bruce told Amy that the revision to the will meant nothing because, for one thing, it was not prepared by a lawyer. -List four reasons discussed in the text as to why individuals engage in estate planning.

Distribution ______ means distributing an estate by class or representation.

Distribution ______ means distributing an estate by the individual.

A living will is a document by which a person expresses his or her wishes regarding medical treatment desired if an accident or illness prevents him or her from participating in medical decisions.

"Fighter." Willy, a ninety-year-old wild bronco rider in the rodeo, had a will leaving all his possessions to a girlfriend, Linda, age twenty-two. During a rodeo, Willy was placed on a particularly wild bronco named "Fighter." During the ride, Grumpy the clown yelled out to Willy that Linda had suggested that particular horse. Willy was very grumpy about that because he was having trouble controlling Fighter. Nevertheless, Willy prevailed and collected the prize. Willy was so excited that he felt himself having a heart attack. Just before he died, he yelled out, "Linda, you had me put on that crazy horse, and I'm revoking my will. I'm dying, and I'm leaving everything to my other girlfriend, Candy." A number of witnesses heard his statement; and Grumpy, who had always liked Candy more than Linda, promptly wrote down Willy's statement. Linda knew nothing about Candy and was very upset. She told Candy that Candy could have nothing because Willy's written will was still in effect. She also told Candy that Willy was suffering from a mental illness and did not know what he was doing when he stated that Candy should take everything. Willy's daughter, Monique, age 65, also entered the discussion stating that Linda had unfairly coerced Willy into writing a will leaving her everything. -Assuming he was of sound mind, which of the following is true regarding the effect of Willy's statement that Candy should take everything?

Which of the following is false regarding trusts?

A ______ is a gift of real property by will.

Which of the following was the result in Mattison v. Social Security Commissioner, the case in the text involving the issue of whether twins conceived after the death of the father via artificial insemination using his sperm could inherit as children under state intestacy law thereby becoming entitled to social security survivors' benefits?

"Secretary Visits." Carol wrote a will leaving half of her assets to her husband, Bruce, and half to her adult daughter from a previous marriage, Amy. Carol, however, found out that Bruce had been spending a lot of time with his secretary, Sharon. Angrily, Carol typed on a new piece of paper that she stapled to her will, "You skunk, Bruce, you take nothing. Amy gets it all." She then signed her name. Carol then took the will to her best friend, Betsy, who signed as a witness verifying that Carol meant for Bruce to take nothing. Carol was struck by lightning a few days later and died. Bruce told Amy that the revision to the will meant nothing because, for one thing, it was not prepared by a lawyer. -Which of the following is true regarding the effectiveness of Betsy's signature?

A person with an interest in a will, such as that of a potential beneficiary is said to have _____.

The process of settling an estate is known as _____.