Question 1

MATCHING:
-A testator's act of specifically depriving someone who would otherwise be that testator's legal beneficiary

Accepted Answer

A) spendthrift 
B) life estate 
C) disinheritance 
D) dividend 
E) fair market value
F)homestead
G)receivables
H)life insurance
I)contract for deed
J)primary beneficiary

Question 2

Recommending periodic reviews of the will whenever the client's marital status changes constitutes improper solicitation.

Accepted Answer

A) True 
 B)False

Question 3

When drafting a will, simple language should be used.

Accepted Answer

A) True 
 B)False

Question 4

When drafting a will, the paralegal should:

Accepted Answer

A) Make sure all copies of the will are signed 
B) Use legal words and elaborate phrasing whenever possible 
C) Include a residuary clause 
D) Erase as many mistakes as necessary, and make any corrections needed on the final will

Question 5

The paralegal should familiarize the client with the taxes imposed on a decedent's estate and give legal advice about how to minimize them.

Accepted Answer

A) True 
 B)False

Question 6

In order to efficiently assist the attorney, the paralegal needs to develop drafting and counseling skills.

Accepted Answer

A) True 
 B)False

Question 7

MATCHING:
-The monetary amount an item would bring if it were sold on the open market

Accepted Answer

A) spendthrift 
B) life estate 
C) disinheritance 
D) dividend 
E) fair market value
F)homestead
G)receivables
H)life insurance
I)contract for deed
J)primary beneficiary

Question 8

MATCHING:
-The share of profits or property to which the owners of a business are entitled

Accepted Answer

A) spendthrift 
B) life estate 
C) disinheritance 
D) dividend 
E) fair market value
F)homestead
G)receivables
H)life insurance
I)contract for deed
J)primary beneficiary

Question 9

MATCHING:
-Debts established in the course of business that are currently due from others

Accepted Answer

A) spendthrift 
B) life estate 
C) disinheritance 
D) dividend 
E) fair market value
F)homestead
G)receivables
H)life insurance
I)contract for deed
J)primary beneficiary

Question 10

A spouse can be legally disinherited, but a child cannot.

Accepted Answer

A) True 
 B)False

Exam 5: Preparation to Draft a Will: Checklists and the Conference With the Client

MATCHING: -A testator's act of specifically depriving someone who would otherwise be that testator's legal beneficiary

Recommending periodic reviews of the will whenever the client's marital status changes constitutes improper solicitation.

When drafting a will, simple language should be used.

When drafting a will, the paralegal should:

The paralegal should familiarize the client with the taxes imposed on a decedent's estate and give legal advice about how to minimize them.

In order to efficiently assist the attorney, the paralegal needs to develop drafting and counseling skills.

MATCHING: -The monetary amount an item would bring if it were sold on the open market

MATCHING: -The share of profits or property to which the owners of a business are entitled

MATCHING: -Debts established in the course of business that are currently due from others

A spouse can be legally disinherited, but a child cannot.