Question 1

A trust divides legal and equitable title to property.

Accepted Answer

A) True 
 B)False

Question 2

The characteristics of a spendthrift trust include which of the following?

Accepted Answer

A)  Spendthrift provisions are not valid in most states. 
B)  Spendthrift trusts are created to preserve assets against trust creditors. 
C)  A settlor may provide,in a spendthrift trust,that the beneficiaries cannot,by assignment or otherwise,impair their rights to receive principal or income. 
D)  All of these. 
A)  Spendthrift provisions are not valid in most states. 
B)  Spendthrift trusts are created to preserve assets against trust creditors. 
C)  A settlor may provide,in a spendthrift trust,that the beneficiaries cannot,by assignment or otherwise,impair their rights to receive principal or income. 
D)  All of these.

Question 3

The duties of a trustee are:

Accepted Answer

A)  to carry out the purposes of the trust. 
B)  to act with prudence and care in the administration of the trust. 
C)  to exercise a high degree of loyalty toward the beneficiary. 
D)  All of these. 
A)  to carry out the purposes of the trust. 
B)  to act with prudence and care in the administration of the trust. 
C)  to exercise a high degree of loyalty toward the beneficiary. 
D)  All of these.

Question 4

A will is generally revoked by all but which of the following?

Accepted Answer

A)  The testator's murder by a devisee 
B)  Tearing it in half with the intent to revoke it 
C)  Executing another will that is inconsistent with the first 
D)  Inadvertent burning which destroys the document 
A)  The testator's murder by a devisee 
B)  Tearing it in half with the intent to revoke it 
C)  Executing another will that is inconsistent with the first 
D)  Inadvertent burning which destroys the document

Question 5

Under the UPC,a person must be what age to make a valid will?

Accepted Answer

A)  Sixteen 
B)  Eighteen 
C)  Twenty-one 
D)  Age does not matter as long as the person is of sound mind and has the intent to make a will. 
A)  Sixteen 
B)  Eighteen 
C)  Twenty-one 
D)  Age does not matter as long as the person is of sound mind and has the intent to make a will.

Question 6

Diego,a widower,dies intestate,leaving two surviving children and two grandchildren who are children of his deceased daughter.If Diego's surviving children each take one-third of his estate and the grandchildren each take one-sixth of the estate,this is described legally by the statement that:

Accepted Answer

A)  lineal descendants of predeceased children take property per stirpes. 
B)  lineal descendants take property per capita. 
C)  collateral heirs take the property per stirpes. 
D)  lineal descendants and collateral heirs take the property per capita. 
A)  lineal descendants of predeceased children take property per stirpes. 
B)  lineal descendants take property per capita. 
C)  collateral heirs take the property per stirpes. 
D)  lineal descendants and collateral heirs take the property per capita.

Question 7

Name the special types of wills.

Accepted Answer

The special types of wills available in

Question 8

The Uniform Probate Code has been adopted by:

Accepted Answer

A)  fewer than half of the states. 
B)  all states without variation. 
C)  the great majority of states without variation. 
D)  the federal government. 
A)  fewer than half of the states. 
B)  all states without variation. 
C)  the great majority of states without variation. 
D)  the federal government.

Question 9

The executor or administrator occupies a fiduciary relationship with regard to the estate.

Accepted Answer

A) True 
 B)False

Question 10

Ordinarily,the attorney who drafts the will may not serve as a witness to the will.

Accepted Answer

A) True 
 B)False

Question 11

A devise is a gift by will of personal property.

Accepted Answer

A) True 
 B)False

Question 12

A testator with capacity and intent can create an irrevocable will.

Accepted Answer

A) True 
 B)False

Question 13

Rules for the distribution of property in a situation involving intestate succession:

Accepted Answer

A)  vary widely from state to state. 
B)  are uniform federal rules. 
C)  will govern distribution of an intestate's estate only if such distribution conforms to the clear intention of the decedent. 
D)  at common law and today,prevent intestate property from ascending lineally. 
A)  vary widely from state to state. 
B)  are uniform federal rules. 
C)  will govern distribution of an intestate's estate only if such distribution conforms to the clear intention of the decedent. 
D)  at common law and today,prevent intestate property from ascending lineally.

Question 14

An attorney receives a check from the defendant in settlement of a lawsuit brought by his client,the plaintiff.Even if the check is made out in the name of the attorney,it will belong to the client as a:

Accepted Answer

A)  resulting trust. 
B)  constructive trust. 
C)  totten trust. 
D)  spendthrift trust. 
A)  resulting trust. 
B)  constructive trust. 
C)  totten trust. 
D)  spendthrift trust.

Question 15

The terms in codicils always override the terms of the original will.

Accepted Answer

A) True 
 B)False

Question 16

If a will was burned in an electrical fire that destroyed the testator's home,it will be presumed to be revoked.

Accepted Answer

A) True 
 B)False

Question 17

Probate is the:

Accepted Answer

A)  reading of a will by a lawyer. 
B)  actual property given away in a will. 
C)  process of declaring a person dead. 
D)  process of managing a decedent's property. 
A)  reading of a will by a lawyer. 
B)  actual property given away in a will. 
C)  process of declaring a person dead. 
D)  process of managing a decedent's property.

Question 18

Under most intestate succession laws,a stepchild will not inherit unless legally adopted.

Accepted Answer

A) True 
 B)False

Question 19

Tom,a trustee,fraudulently purchases property with trust funds and puts title in his own name.What type of trust is created?

Accepted Answer

A)  Constructive trust 
B)  Implied trust 
C)  Express trust 
D)  Resulting trust 
A)  Constructive trust 
B)  Implied trust 
C)  Express trust 
D)  Resulting trust

Question 20

Which of the following is untrue regarding the revocation of a will?

Accepted Answer

A)  There cannot be a partial revocation. 
B)  An inadvertent destruction of a will acts as a revocation. 
C)  The execution of a second will does not of itself constitute a revocation of an earlier will. 
D)  Divorce does not ordinarily revoke a will. 
A)  There cannot be a partial revocation. 
B)  An inadvertent destruction of a will acts as a revocation. 
C)  The execution of a second will does not of itself constitute a revocation of an earlier will. 
D)  Divorce does not ordinarily revoke a will.

Exam 50: Trusts and Decedents Estates

A trust divides legal and equitable title to property.

The characteristics of a spendthrift trust include which of the following?

The duties of a trustee are:

A will is generally revoked by all but which of the following?

Under the UPC,a person must be what age to make a valid will?

Diego,a widower,dies intestate,leaving two surviving children and two grandchildren who are children of his deceased daughter.If Diego's surviving children each take one-third of his estate and the grandchildren each take one-sixth of the estate,this is described legally by the statement that:

Name the special types of wills.

The Uniform Probate Code has been adopted by:

The executor or administrator occupies a fiduciary relationship with regard to the estate.

Ordinarily,the attorney who drafts the will may not serve as a witness to the will.

A devise is a gift by will of personal property.

A testator with capacity and intent can create an irrevocable will.

Rules for the distribution of property in a situation involving intestate succession:

An attorney receives a check from the defendant in settlement of a lawsuit brought by his client,the plaintiff.Even if the check is made out in the name of the attorney,it will belong to the client as a:

The terms in codicils always override the terms of the original will.

If a will was burned in an electrical fire that destroyed the testator's home,it will be presumed to be revoked.

Probate is the:

Under most intestate succession laws,a stepchild will not inherit unless legally adopted.

Tom,a trustee,fraudulently purchases property with trust funds and puts title in his own name.What type of trust is created?

Which of the following is untrue regarding the revocation of a will?

Introduction to Law

Business Ethics and the Social Responsibility of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

A: Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance,breach,and Discharge

Contract Remedies

Relationship of Principal and Agent

Relationship With Third Parties

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Products Liability: Warranties and Strict Liability in Tort

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits,collections,and Funds Transfers

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature,formation,and Powers

Financial Structure

Management Structure

Fundamental Changes

Secured Transactions and Suretyship

Bankruptcy

Protection of Intellectual Property

Antitrust

Consumer Protection Double

Employment Law

Securities Regulation

Accountants Legal Liability

Environmental Law

International Business Law

Introduction to Property,property Insurance,bailments,and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Legal Terminology: Understanding Criminal and Civil Law Systems

Contract Law Terminology

Exploring the Legal Concepts of Agency and Fiduciary Duty

Understanding Key Legal Concepts in Sales and Contracts

Understanding the Terminology of Banking and Finance: Key Concepts and Definitions

Exploring Legal Concepts and Processes in Business Partnerships

Understanding Corporate Law: A Guide to Ultra Vires Acts, Subscribers, Debt Securities, and More

Understanding Key Terms in Secured Transactions and Bankruptcy Law

Legal Topics and Terms