Question 1

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

Accepted Answer

A)  do not apply to property held in joint tenancy. 
B)  apply where the testator has failed to name an administrator. 
C)  prevent property from escheating to the state. 
D)  have no application to real estate owned by the decedent. 
A)  do not apply to property held in joint tenancy. 
B)  apply where the testator has failed to name an administrator. 
C)  prevent property from escheating to the state. 
D)  have no application to real estate owned by the decedent.

Question 2

Which of the following will be acceptable as a witness to a will?

Accepted Answer

A)  The testator's spouse 
B)  The person named to be executor of the estate 
C)  The beneficiary of a testamentary trust 
D)  The spouse of a beneficiary 
A)  The testator's spouse 
B)  The person named to be executor of the estate 
C)  The beneficiary of a testamentary trust 
D)  The spouse of a beneficiary

Question 3

If a person dies without a valid will,her property will be distributed according to state statute,even if that distribution is contrary to the decedent's clear intention.

Accepted Answer

A) True 
 B)False

Question 4

A totten trust is revocable by the creator.

Accepted Answer

A) True 
 B)False

Question 5

Charlene drafted a will in 2008 stating as follows: "I hereby leave my 80-acre farm to Arthur,my pure-bred golden retriever to Brian,and $20,000 each to Dana and Ellen." In 2011,Charlene sold her farm and in 2014 her dog died.Charlene died in 2017 without having changed her will and with $15,000 in the bank.If there are no administrative costs or bills to be paid by the estate,what amount will Arthur,Brian,Dana,and Ellen receive under the will?

Accepted Answer

When a will makes a specific bequest of

Question 6

A trust:

Accepted Answer

A)  is a fiduciary relationship in which one person holds both legal and equitable title to property which is the subject matter of the trust. 
B)  may take effect only during the lifetime of the person creating the trust. 
C)  may be created by such words as "I leave [certain property] to Swigert in full confidence and hope that Swigert will care for Adamson." 
D)  may not be created "to benefit and maintain Southside Park," since this purpose would be too vague to be enforceable. 
A)  is a fiduciary relationship in which one person holds both legal and equitable title to property which is the subject matter of the trust. 
B)  may take effect only during the lifetime of the person creating the trust. 
C)  may be created by such words as "I leave [certain property] to Swigert in full confidence and hope that Swigert will care for Adamson." 
D)  may not be created "to benefit and maintain Southside Park," since this purpose would be too vague to be enforceable.

Question 7

A living will is a will that:

Accepted Answer

A)  is videotaped. 
B)  contains instructions to one's physician. 
C)  provides for guardianship of the testator's children. 
D)  cannot be revoked. 
A)  is videotaped. 
B)  contains instructions to one's physician. 
C)  provides for guardianship of the testator's children. 
D)  cannot be revoked.

Question 8

Which of the following would be charged to the life tenant's interest in the course of administering a trust?

Accepted Answer

A)  Expenses of selling a trust investment 
B)  The costs of establishing the trust 
C)  Ordinary repairs 
D)  Permanent improvements to the trust property 
A)  Expenses of selling a trust investment 
B)  The costs of establishing the trust 
C)  Ordinary repairs 
D)  Permanent improvements to the trust property

Question 9

A statement signed by the required number of witnesses who observe the execution of a valid will is called a(n):

Accepted Answer

A)  validity clause. 
B)  ambulatory clause. 
C)  attestation clause. 
D)  fiduciary clause. 
A)  validity clause. 
B)  ambulatory clause. 
C)  attestation clause. 
D)  fiduciary clause.

Question 10

The failure to appoint a trustee will destroy a trust.

Accepted Answer

A) True 
 B)False

Question 11

If a person dies without a will and without any heirs or next of kin,her property:

Accepted Answer

A)  escheats to a vestry commission. 
B)  vests in her neighbors. 
C)  vests in her church. 
D)  escheats to the state. 
A)  escheats to a vestry commission. 
B)  vests in her neighbors. 
C)  vests in her church. 
D)  escheats to the state.

Question 12

Which of the following statements about wills is correct?

Accepted Answer

A)  A will must be written on one piece of paper. 
B)  Another writing may be incorporated by reference in a will. 
C)  The testator must sign his or her full name. 
D)  The testator cannot have any "help" in signing a will. 
A)  A will must be written on one piece of paper. 
B)  Another writing may be incorporated by reference in a will. 
C)  The testator must sign his or her full name. 
D)  The testator cannot have any "help" in signing a will.

Question 13

For soldiers on active duty and sailors at sea:

Accepted Answer

A)  most statutes have specialized,more formal requirements for wills. 
B)  in most jurisdictions,personal and real property can be passed by soldiers' and sailors' wills. 
C)  most statutes relax the formal requirements for a will and permit a testamentary disposition to be valid regardless of the informality of the document. 
D)  specialized wills allow for general gifts only. 
A)  most statutes have specialized,more formal requirements for wills. 
B)  in most jurisdictions,personal and real property can be passed by soldiers' and sailors' wills. 
C)  most statutes relax the formal requirements for a will and permit a testamentary disposition to be valid regardless of the informality of the document. 
D)  specialized wills allow for general gifts only.

Question 14

Testamentary capacity refers to:

Accepted Answer

A)  the age of the testator. 
B)  the same capacity as required to contract. 
C)  the mental ability to create a will. 
D)  the influence of others over the testator. 
A)  the age of the testator. 
B)  the same capacity as required to contract. 
C)  the mental ability to create a will. 
D)  the influence of others over the testator.

Question 15

The administration of the assets of the deceased and the proving of the validity of the will are determined in:

Accepted Answer

A)  probate proceedings. 
B)  a domicile of intent. 
C)  an equity proceeding. 
D)  a testamentary hearing. 
A)  probate proceedings. 
B)  a domicile of intent. 
C)  an equity proceeding. 
D)  a testamentary hearing.

Question 16

The person holding legal title to the property is the settlor of the trust.

Accepted Answer

A) True 
 B)False

Question 17

In 2010,after surviving a heart attack,Arthur executed a valid will in which he left his entire estate to the Heart Fund.In 2014,Arthur was declared incompetent and was committed to an institution.At his death in 2017,his son,Brian,who was his sole survivor,contested the will claiming that Arthur was obviously incompetent.Will Brian prevail with this argument? Explain.

Accepted Answer

No,Brian will not be likely to prevail i

Question 18

A trust can only be created by a written document.

Accepted Answer

A) True 
 B)False

Question 19

If a witness dies prior to the death of the testator,his signature is not counted as a witness unless proof of his handwriting is submitted.

Accepted Answer

A) True 
 B)False

Question 20

Almost all jurisdictions require that:

Accepted Answer

A)  express trusts of real property be in writing. 
B)  trusts have at least four witnesses. 
C)  an inter vivos trust has at least two trustees. 
D)  a charitable trust has at least two trustees. 
A)  express trusts of real property be in writing. 
B)  trusts have at least four witnesses. 
C)  an inter vivos trust has at least two trustees. 
D)  a charitable trust has at least two trustees.

Exam 50: Trusts and Decedents Estates

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

Which of the following will be acceptable as a witness to a will?

If a person dies without a valid will,her property will be distributed according to state statute,even if that distribution is contrary to the decedent's clear intention.

A totten trust is revocable by the creator.

A trust:

A living will is a will that:

Which of the following would be charged to the life tenant's interest in the course of administering a trust?

A statement signed by the required number of witnesses who observe the execution of a valid will is called a(n):

The failure to appoint a trustee will destroy a trust.

If a person dies without a will and without any heirs or next of kin,her property:

Which of the following statements about wills is correct?

For soldiers on active duty and sailors at sea:

Testamentary capacity refers to:

The administration of the assets of the deceased and the proving of the validity of the will are determined in:

The person holding legal title to the property is the settlor of the trust.

A trust can only be created by a written document.

If a witness dies prior to the death of the testator,his signature is not counted as a witness unless proof of his handwriting is submitted.

Almost all jurisdictions require that:

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