Question 1

Explain the purpose of a living will and a durable power of attorney.How are they different?

Accepted Answer

Living will - After diagnosis of illness

Question 2

Statutory wills were devised to provide for complex and unusual circumstances of persons who may otherwise die intestate.

Accepted Answer

A) True 
 B)False

Question 3

What legal documents can a person use to address problems of health care and property in case the
person was become incapacitated at a later time?

Accepted Answer

An advance medical directive (AMD)can pr

Question 4

Very few adults are able to qualify to act as an executor.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is not necessary to create an express trust?

Accepted Answer

A) valid trust purpose. 
B) trust property. 
C) beneficiary 
D) successor trustee. 
A) valid trust purpose. 
B) trust property. 
C) beneficiary 
D) successor trustee.

Question 6

A(n)may be created to provide for a minor whose parents are dead.

Accepted Answer

The answer of A(n)may be created to provide for a...

Question 7

If you create a will,

Accepted Answer

A) probate is avoided. 
B) the will is irrevocable once created. 
C) the will reduces or eliminates estate taxes. 
D) none of the above 
A) probate is avoided. 
B) the will is irrevocable once created. 
C) the will reduces or eliminates estate taxes. 
D) none of the above

Question 8

Among the advantages of writing a will is

Accepted Answer

A) all death taxes may be avoided without sacrifice to customary beneficiaries. 
B) property may be distributed in accordance with the wishes of the testator. 
C) the services of a personal representative may be dispensed with,and his or her fee saved. 
D) probate may be avoided. 
A) all death taxes may be avoided without sacrifice to customary beneficiaries. 
B) property may be distributed in accordance with the wishes of the testator. 
C) the services of a personal representative may be dispensed with,and his or her fee saved. 
D) probate may be avoided.

Question 9

When an elderly person is senile and/or physically unable to handle his/her own finances and other affairs,a close relative,such as a son or daughter,may petition a court to

Accepted Answer

A) create an inter-vivos trust with the elderly person as beneficiary. 
B) declare a conservatorship with the elderly person as conservatee. 
C) declare the elderly person legally insane,and then creates a living will 
D) make an assignment of all assets to the closest relatives in exchange for their agreement to care for the elderly person until death. 
A) create an inter-vivos trust with the elderly person as beneficiary. 
B) declare a conservatorship with the elderly person as conservatee. 
C) declare the elderly person legally insane,and then creates a living will 
D) make an assignment of all assets to the closest relatives in exchange for their agreement to care for the elderly person until death.

Question 10

The book discussed a famous Mexican case where a holographic will was created by an eccentric woman putting her will on an engraved piñata.

Accepted Answer

A) True 
 B)False

Question 11

A(n)is a type of self-prepared will written,signed,and dated with a
complete date,all entirely in the handwriting of the testator.

Accepted Answer

The answer of A(n)is a type of self-prepared will written,signed,and...

Question 12

The person in charge of the personal affairs of the deceased is called a(n)if
named in the will and a(n)if selected by the probate court.

Accepted Answer

executor;a

Question 13

Legal duties of an executor include all of the following except

Accepted Answer

A) extending sympathy and comforting the bereaved initially and throughout the traumatic experience of probate. 
B) notifying heirs and designated beneficiaries of the death and of the contents of the will. 
C) paying debts of the decedent and of the estate,and receiving and safekeeping any income of the estate. 
D) preparing a final accounting report of the administration of the estate for court review and approval before discharge. 
A) extending sympathy and comforting the bereaved initially and throughout the traumatic experience of probate. 
B) notifying heirs and designated beneficiaries of the death and of the contents of the will. 
C) paying debts of the decedent and of the estate,and receiving and safekeeping any income of the estate. 
D) preparing a final accounting report of the administration of the estate for court review and approval before discharge.

Question 14

Most modest estates are exempt from any estate or death tax but once an estate qualifies for taxation the rate is high (i.e. ,45% or above).

Accepted Answer

A) True 
 B)False

Question 15

State laws,which regulate how property shall be distributed when a resident of the state dies without leaving a will,are called trust laws.

Accepted Answer

A) True 
 B)False

Question 16

What is the advantage of a durable power of attorney over a ordinary power of attorney?

Accepted Answer

If you become incapacitated an ordinary

Question 17

Herbert executed a proper,formal will.In the will,Herbert left all of his property to River City
University.A copy of the will was mailed to the Alumni Association of River City.Thirty days before his death,Herbert tore up the will and wrote a second one in which he left all of his property to his friend Dawn.On Herbert's death,Dawn renounced her right to receive his property.Who will get Herbert's property?

Accepted Answer

The first will granting the property to

Question 18

A(n)is the arrangement whereby property is transferred from one person,
the to be administered by a(n)for the benefit of a
third party,the .

Accepted Answer

trust;trus

Question 19

A trust may be used to protect a spendthrift child against his or her own folly and against possible exploitation by others.

Accepted Answer

A) True 
 B)False

Question 20

Usual costs of a testamentary trust include

Accepted Answer

A) will preparation fees. 
B) future trustee's fees. 
C) future probate fees. 
D) all of the above 
A) will preparation fees. 
B) future trustee's fees. 
C) future probate fees. 
D) all of the above

Explain the purpose of a living will and a durable power of attorney.How are they different?

Statutory wills were devised to provide for complex and unusual circumstances of persons who may otherwise die intestate.

What legal documents can a person use to address problems of health care and property in case the person was become incapacitated at a later time?

Very few adults are able to qualify to act as an executor.

Which of the following is not necessary to create an express trust?

A(n)may be created to provide for a minor whose parents are dead.

If you create a will,

Among the advantages of writing a will is

When an elderly person is senile and/or physically unable to handle his/her own finances and other affairs,a close relative,such as a son or daughter,may petition a court to

The book discussed a famous Mexican case where a holographic will was created by an eccentric woman putting her will on an engraved piñata.

A(n)is a type of self-prepared will written,signed,and dated with a complete date,all entirely in the handwriting of the testator.

The person in charge of the personal affairs of the deceased is called a(n)if named in the will and a(n)if selected by the probate court.

Legal duties of an executor include all of the following except

Most modest estates are exempt from any estate or death tax but once an estate qualifies for taxation the rate is high (i.e. ,45% or above).

State laws,which regulate how property shall be distributed when a resident of the state dies without leaving a will,are called trust laws.

What is the advantage of a durable power of attorney over a ordinary power of attorney?

A(n)is the arrangement whereby property is transferred from one person, the to be administered by a(n)for the benefit of a third party,the .

A trust may be used to protect a spendthrift child against his or her own folly and against possible exploitation by others.

Usual costs of a testamentary trust include

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

Explain the purpose of a living will and a durable power of attorney.How are they different?

Statutory wills were devised to provide for complex and unusual circumstances of persons who may otherwise die intestate.

What legal documents can a person use to address problems of health care and property in case the person was become incapacitated at a later time?

Very few adults are able to qualify to act as an executor.

Which of the following is not necessary to create an express trust?

A(n)may be created to provide for a minor whose parents are dead.

If you create a will,

Among the advantages of writing a will is

When an elderly person is senile and/or physically unable to handle his/her own finances and other affairs,a close relative,such as a son or daughter,may petition a court to

The book discussed a famous Mexican case where a holographic will was created by an eccentric woman putting her will on an engraved piñata.

A(n)is a type of self-prepared will written,signed,and dated with a complete date,all entirely in the handwriting of the testator.

The person in charge of the personal affairs of the deceased is called a(n)if named in the will and a(n)if selected by the probate court.

Legal duties of an executor include all of the following except

Most modest estates are exempt from any estate or death tax but once an estate qualifies for taxation the rate is high (i.e. ,45% or above).

State laws,which regulate how property shall be distributed when a resident of the state dies without leaving a will,are called trust laws.

What is the advantage of a durable power of attorney over a ordinary power of attorney?

A(n)is the arrangement whereby property is transferred from one person, the to be administered by a(n)for the benefit of a third party,the .

A trust may be used to protect a spendthrift child against his or her own folly and against possible exploitation by others.

Usual costs of a testamentary trust include

Introduction to Law

Our Constitution

The Court System

Attorney Client Relationship

Administrative Law

Crimes: Public Wrongs

Torts: Private Wrongs

Contracts: Enforceable Agreements

Family Law

Owning and Operating Motor Vehicles

Renters and Landlords

Home Ownership

Employee and Employer Rights and Duties

Filters