Exam 14: Wills, Trusts, and Probate Laws Appendices Glossary Indexes

A living will is sometimes called a(n)

Hiro Nakamura and Niki Sanders own a house in joint tenancy.Sanders dies,leaving a will that attempted to give her interest in the house to her mother,Jessica Larter.

A will is often called a conditional document because although valid at creation it does not become operational until the death of the testator.

A person dies if he or she dies without having left a valid will.

Respond to this statement,"If you wish to make a donation of your body parts for transplant surgery it is important to include this instruction in your will."

A trust designed for the benefit of a segment of the public or of the public in general is a(n).

A trust created and operational during the lifetime of the settler is called a(n)______________trust and if it can be dissolved is called _____________and if it cannot be it is called _______________.

Amanda Silver-Lockett,married to David Lockett and mother of one child (female)named Bree,made a dated document,entirely in her own handwriting,and signed it.In the document she stated in the event of her death she wanted to leave $50,000 to River City University,$200,000 to her child Bree,and the reminder of any assets she owned to go to her loving husband David.

Estate planning is an ongoing analysis of what a person owns or expects to own (assets),and what he or she owes to others (liabilities).

What are the usual requirements for a valid will?

An effective estate plan should include

A person who dies without a will,dies

A holographic,un-witnessed will is often as legally effective as a formal,witnessed will.

A(n)is imposed by some states on those who receive property from a deceased person's estate.

Twenty-nine year old Kitty McBills lapsed into a permanent coma after a skiing accident.She existed for several years in a "vegetative state" after her accident.Assuming she would not have wished to continue to live in this condition,what legal document could she have prepared before the accident to give guidance for her care?

A person who creates a trust is called a(n).

One element of an estate plan is to consider whether life insurance is appropriate for the needs of beneficiaries.

The historical word for a mercy killing is .

In the textbook Case of Estate of Southworth v North Shore Animal League

Joint tenancy as a form of joint property ownership is used to avoid probate but it is not effective to avoid estate taxes.