Question 1

Upon the death of a beneficiary who held more than a life estate, his interest in the trust reverts to the trustee.

Accepted Answer

A) True 
 B)False

Question 2

Creditors of any trust beneficiary can attach the fund or the income to pay the beneficiary's individual debts.

Accepted Answer

A) True 
 B)False

Question 3

Constructive trusts are generally found where the creator clearly intended a trust to be formed.

Accepted Answer

A) True 
 B)False

Question 4

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 5

In most states, children under a certain age cannot make valid wills.

Accepted Answer

A) True 
 B)False

Question 6

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 7

A will entirely in the handwriting of the testator is called a will.

Accepted Answer

A)  nuncupative 
B)  holographic 
C)  conditional 
D)  codicil 
A)  nuncupative 
B)  holographic 
C)  conditional 
D)  codicil

Question 8

Extinction of a gift by a testator's failure to change his will after changed circumstances have made the performance of a provision in the will impossible is termed:

Accepted Answer

A)  renunciation. 
B)  ademption. 
C)  abatement. 
D)  escheat. 
A)  renunciation. 
B)  ademption. 
C)  abatement. 
D)  escheat.

Question 9

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 10

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 11

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 12

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 13

An amendment to a will is called a(n):

Accepted Answer

A)  stipulated addition. 
B)  statutory adjustment. 
C)  codicil. 
D)  attestation. 
A)  stipulated addition. 
B)  statutory adjustment. 
C)  codicil. 
D)  attestation.

Question 14

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 15

A totten trust involves a bank account opened by the settlor of the trust.

Accepted Answer

A) True 
 B)False

Question 16

In 1998, Arthur executed a valid will in which he left his entire estate to the Heart Fund. In 2006, Arthur was declared incompetent and was committed to an institution. At his death in 2009, 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

Question 17

Nuncupative wills are generally enforceable.

Accepted Answer

A) True 
 B)False

Question 18

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 19

A precatory expression:

Accepted Answer

A)  cannot impose a trust because of indefiniteness. 
B)  may be so definite as to impose a trust. 
C)  does not depend upon the court's interpretation of the intent of the settlor. 
D)  is ineffective because it does not use the required words to create a trust. 
A)  cannot impose a trust because of indefiniteness. 
B)  may be so definite as to impose a trust. 
C)  does not depend upon the court's interpretation of the intent of the settlor. 
D)  is ineffective because it does not use the required words to create a trust.

Question 20

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.

Exam 50: Trusts and Decedents Estates

Upon the death of a beneficiary who held more than a life estate, his interest in the trust reverts to the trustee.

Creditors of any trust beneficiary can attach the fund or the income to pay the beneficiary's individual debts.

Constructive trusts are generally found where the creator clearly intended a trust to be formed.

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.

In most states, children under a certain age cannot make valid wills.

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

A will entirely in the handwriting of the testator is called a will.

Extinction of a gift by a testator's failure to change his will after changed circumstances have made the performance of a provision in the will impossible is termed:

The duties of a trustee are:

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

Which of the following statements about wills is correct?

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.

An amendment to a will is called a(n):

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

A totten trust involves a bank account opened by the settlor of the trust.

Nuncupative wills are generally enforceable.

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

A precatory expression:

Probate is the:

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