Question 1

A beneficiary under the will cannot be the witness of that will.

Accepted Answer

A) True 
 B)False

Question 2

Who is an executor of a probate?

Accepted Answer

A) a person appointed by the government to conduct the probate 
B) a person designated in the will to conduct the probate 
C) a person who is beneficiary of the probate 
D) an attorney who is usually appointed to help administer the estate and to complete the probate 
A) a person appointed by the government to conduct the probate 
B) a person designated in the will to conduct the probate 
C) a person who is beneficiary of the probate 
D) an attorney who is usually appointed to help administer the estate and to complete the probate

Question 3

A properly executed subsequent will revokes a prior will.

Accepted Answer

A) True 
 B)False

Question 4

A Totten trust is considered a tentative trust because the trustee can add or withdraw funds from the account.

Accepted Answer

A) True 
 B)False

Question 5

A ________ is a specialized state court that supervises the administration and settlement of estates.

Accepted Answer

A) small claims court 
B) federal court 
C) tort court 
D) probate court 
A) small claims court 
B) federal court 
C) tort court 
D) probate court

Question 6

Who are the beneficiaries of a trust?

Accepted Answer

Trusts often provide that any trust inco

Question 7

What is the first step in videotaping the signing of a will?

Accepted Answer

A) The will is recited verbatim by the testator. 
B) The will is attested by the witnesses after inspection. 
C) The will is signed by the testator. 
D) The will and its provisions are explained and justified by the testator for the benefit of surviving relatives. 
A) The will is recited verbatim by the testator. 
B) The will is attested by the witnesses after inspection. 
C) The will is signed by the testator. 
D) The will and its provisions are explained and justified by the testator for the benefit of surviving relatives.

Question 8

Horace Holmes died at the age of 85 leaving behind all his property to Joe Baines, his butler.The news of the new will that Horace executed three months before his death naming Joe as the sole beneficiary surprised everyone.By his prior will, he had bequeathed his estate to his two daughters and three grandchildren on a per capita basis.The court took up proceedings to determine the validity of his new will because Horace's rejection of his daughters and grandchildren in his will was uncharacteristic of him.The court most likely suspected this change to be a case of ________.

Accepted Answer

A) constructive trust 
B) undue hardship 
C) undue influence 
D) spendthrift trust 
A) constructive trust 
B) undue hardship 
C) undue influence 
D) spendthrift trust

Question 9

From which of the following parties can a creditor recover in a spendthrift trust?

Accepted Answer

A) reminder beneficiary 
B) income beneficiary 
C) trustee 
D) successor trustee 
A) reminder beneficiary 
B) income beneficiary 
C) trustee 
D) successor trustee

Question 10

What are the requirements of the Statute of Wills?

Accepted Answer

Every state has a Statute of Wills that

Question 11

________ is a principle that says if a testator leaves a specific devise of property to a beneficiary, but the property is no longer in the estate when the testator dies, the beneficiary receives nothing.

Accepted Answer

A) Ademption 
B) Abatement 
C) Bailment 
D) Attestation 
A) Ademption 
B) Abatement 
C) Bailment 
D) Attestation

Question 12

Give an account of the funding and operation of a living trust.

Accepted Answer

To fund a living trust, the grantor tran

Question 13

When is the deceased's property, in intestacy, necessarily escheated to the government?

Accepted Answer

A) when the deceased has no living relatives 
B) when the deceased left behind property that has an existing mortgage on it 
C) when the deceased has executed a living will prior to illness or death 
D) when the deceased has no lineal descendants 
A) when the deceased has no living relatives 
B) when the deceased left behind property that has an existing mortgage on it 
C) when the deceased has executed a living will prior to illness or death 
D) when the deceased has no lineal descendants

Question 14

A living trust is a document that states which life-saving measures the signor does and does not want.

Accepted Answer

A) True 
 B)False

Question 15

A living trust is subject to property division upon divorce.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements is true of real property inherited under a will?

Accepted Answer

A) The person is not allowed to renounce the will after the death of the testator. 
B) The person can only renounce the will before a probate is conducted. 
C) The person is not allowed to renounce the will if all outstanding claims against it are not fulfilled by him or her. 
D) All outstanding claims against the property like liens and mortgages are inherited by the beneficiary. 
A) The person is not allowed to renounce the will after the death of the testator. 
B) The person can only renounce the will before a probate is conducted. 
C) The person is not allowed to renounce the will if all outstanding claims against it are not fulfilled by him or her. 
D) All outstanding claims against the property like liens and mortgages are inherited by the beneficiary.

Question 17

The person or entity to receive the trust corpus upon the termination of the trust is called the remainder beneficiary.

Accepted Answer

A) True 
 B)False

Question 18

A distribution of an estate in which grandchildren and great-grandchildren of the deceased inherit by representation of their parent is known as a(n)________.

Accepted Answer

A) abatement 
B) per stirpes distribution 
C) per capita distribution 
D) ademption 
A) abatement 
B) per stirpes distribution 
C) per capita distribution 
D) ademption

Question 19

In an allegation of undue influence in making a will, the courts only consider direct evidence as proof.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements is true of the requirements of making a will?

Accepted Answer

A) A will need not be signed by the testator if it was created in the presence of witnesses. 
B) A will need not be written to be considered valid only if it is a dying declaration. 
C) A will cannot incorporate any other documents by reference. 
D) The legal age for executing a will is set at 25 years across all states. 
A) A will need not be signed by the testator if it was created in the presence of witnesses. 
B) A will need not be written to be considered valid only if it is a dying declaration. 
C) A will cannot incorporate any other documents by reference. 
D) The legal age for executing a will is set at 25 years across all states.

Exam 52: Wills Trusts and Estates

A beneficiary under the will cannot be the witness of that will.

Who is an executor of a probate?

A properly executed subsequent will revokes a prior will.

A Totten trust is considered a tentative trust because the trustee can add or withdraw funds from the account.

A ________ is a specialized state court that supervises the administration and settlement of estates.

Who are the beneficiaries of a trust?

What is the first step in videotaping the signing of a will?

From which of the following parties can a creditor recover in a spendthrift trust?

What are the requirements of the Statute of Wills?

________ is a principle that says if a testator leaves a specific devise of property to a beneficiary, but the property is no longer in the estate when the testator dies, the beneficiary receives nothing.

Give an account of the funding and operation of a living trust.

When is the deceased's property, in intestacy, necessarily escheated to the government?

A living trust is a document that states which life-saving measures the signor does and does not want.

A living trust is subject to property division upon divorce.

Which of the following statements is true of real property inherited under a will?

The person or entity to receive the trust corpus upon the termination of the trust is called the remainder beneficiary.

A distribution of an estate in which grandchildren and great-grandchildren of the deceased inherit by representation of their parent is known as a(n)________.

In an allegation of undue influence in making a will, the courts only consider direct evidence as proof.

Which of the following statements is true of the requirements of making a will?

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