Question 1

A gift of real estate by will is a bequest.

Accepted Answer

A) True 
 B)False

Question 2

​A will must normally be attested to by two or three witnesses.

Accepted Answer

A) True 
 B)False

Question 3

A legacy is a gift of personal property by will.

Accepted Answer

A) True 
 B)False

Question 4

Gunther dies intestate. The debts of the estate are paid by his​

Accepted Answer

A)  ​estate, after its assets are distributed. 
B)  ​estate, before its assets are distributed. 
C)  ​heirs, after the estate's assets are distributed. 
D)  ​heirs, before the estate's assets are distributed. 
A)  ​estate, after its assets are distributed. 
B)  ​estate, before its assets are distributed. 
C)  ​heirs, after the estate's assets are distributed. 
D)  ​heirs, before the estate's assets are distributed.

Question 5

​A gift of real estate other than by will is a devise.

Accepted Answer

A) True 
 B)False

Question 6

​Ralph creates a trust by his will for the benefit of Stella and her family to come into existence on Ralph's death. This is

Accepted Answer

A)  ​a constructive trust. 
B)  ​a living trust. 
C)  ​a resulting trust. 
D)  ​a testamentary trust. 
A)  ​a constructive trust. 
B)  ​a living trust. 
C)  ​a resulting trust. 
D)  ​a testamentary trust.

Question 7

​Greg dies without a will. His survivors include his spouse Helen and his two children, Irene and John. Under applicable laws, of Greg's estate, Helen will probably receive

Accepted Answer

A)  ​everything. 
B)  ​nothing. 
C)  ​one-half. 
D)  ​one-third. 
A)  ​everything. 
B)  ​nothing. 
C)  ​one-half. 
D)  ​one-third.

Question 8

​In an abatement, the legatees receive increased benefits.

Accepted Answer

A) True 
 B)False

Question 9

A trust created by a will to come into existence on the settlor's death is an irrevocable living trust.

Accepted Answer

A) True 
 B)False

Question 10

​Finnegan dies without a will, with no surviving spouse or child. Finnegan's survivors include his grandson Gallagher, his niece Hailey, and his cousin Innis. In most states, his estate would pass to

Accepted Answer

A)  ​Gallagher. 
B)  ​Hailey. 
C)  ​Innis. 
D)  ​the state. 
A)  ​Gallagher. 
B)  ​Hailey. 
C)  ​Innis. 
D)  ​the state.

Question 11

​A testator may revoke a will by intentionally tearing it.

Accepted Answer

A) True 
 B)False

Question 12

​In his will, Jason leaves $10,000 to each of his three children. However, after Jason dies and all his debts are paid, there is only $9,000 left in his estate. Each child will receive

Accepted Answer

A)  ​$10,000. 
B)  ​$3,000. 
C)  ​$1,000. 
D)  ​$500. 
A)  ​$10,000. 
B)  ​$3,000. 
C)  ​$1,000. 
D)  ​$500.

Question 13

​Ginny opens an account at Home Bank for $250,000-most of her assets. The account provides that it is held in trust for Harriet, Ginny's nurse during the last years of Ginny's life. Less than a year later, Ginny dies, and Harriet withdraws the funds. These facts indicate

Accepted Answer

A)  ​a will substitute. 
B)  ​a holographic will. 
C)  ​per stirpes distribution. 
D)  ​undue influence. 
A)  ​a will substitute. 
B)  ​a holographic will. 
C)  ​per stirpes distribution. 
D)  ​undue influence.

Question 14

​The trustee is the person who benefits from a trust.

Accepted Answer

A) True 
 B)False

Question 15

​Edie holds title to Floyd's property under circumstances that, although nothing is express, indicate this is apparently only for Floyd's benefit. This is

Accepted Answer

A)  ​an illegal trust. 
B)  ​an living trust. 
C)  ​a resulting trust. 
D)  ​a testamentary trust. 
A)  ​an illegal trust. 
B)  ​an living trust. 
C)  ​a resulting trust. 
D)  ​a testamentary trust.

Question 16

To probate a will means to release it to the media.​

Accepted Answer

A) True 
 B)False

Question 17

​Kit has two children, Lea (the eldest) and Merl, both of whom predecease Kit. Lea is survived by a son, Nat, and Merl by two daughters, Opal and Pearl. On Kit's death, if the estate is distributed per capita

Accepted Answer

A)  ​Nat will receive one-half of the estate, and Opal and Pearl will each receive one-fourth. 
B)  ​Nat will receive the entire estate. 
C)  ​the grandchildren will each receive one-third of the estate. 
D)  ​the grandchildren will not receive anything. 
A)  ​Nat will receive one-half of the estate, and Opal and Pearl will each receive one-fourth. 
B)  ​Nat will receive the entire estate. 
C)  ​the grandchildren will each receive one-third of the estate. 
D)  ​the grandchildren will not receive anything.

Question 18

Roy dies without a will. The distribution of Roy's estate is prescribed by​

Accepted Answer

A)  ​Roy's closest relatives. 
B)  ​durable powers of attorney. 
C)  ​intestacy laws. 
D)  ​will substitutes. 
A)  ​Roy's closest relatives. 
B)  ​durable powers of attorney. 
C)  ​intestacy laws. 
D)  ​will substitutes.

Question 19

​Regina handwrites her entire will on a legal pad. This will is

Accepted Answer

A)  ​invalid. 
B)  ​a holographic will. 
C)  ​a nonholographic will. 
D)  ​residuary. 
A)  ​invalid. 
B)  ​a holographic will. 
C)  ​a nonholographic will. 
D)  ​residuary.

Question 20

​In his will, Bryson makes a gift of $12,000 to Curtis. This is

Accepted Answer

A)  ​a general bequest. 
B)  ​a general devise. 
C)  ​a specific bequest. 
D)  ​a specific devise. 
A)  ​a general bequest. 
B)  ​a general devise. 
C)  ​a specific bequest. 
D)  ​a specific devise.

Exam 51: Wills and Trusts

A gift of real estate by will is a bequest.

​A will must normally be attested to by two or three witnesses.

A legacy is a gift of personal property by will.

Gunther dies intestate. The debts of the estate are paid by his​

​A gift of real estate other than by will is a devise.

​Ralph creates a trust by his will for the benefit of Stella and her family to come into existence on Ralph's death. This is

​Greg dies without a will. His survivors include his spouse Helen and his two children, Irene and John. Under applicable laws, of Greg's estate, Helen will probably receive

​In an abatement, the legatees receive increased benefits.

A trust created by a will to come into existence on the settlor's death is an irrevocable living trust.

​Finnegan dies without a will, with no surviving spouse or child. Finnegan's survivors include his grandson Gallagher, his niece Hailey, and his cousin Innis. In most states, his estate would pass to

​A testator may revoke a will by intentionally tearing it.

​In his will, Jason leaves $10,000 to each of his three children. However, after Jason dies and all his debts are paid, there is only $9,000 left in his estate. Each child will receive

​Ginny opens an account at Home Bank for $250,000-most of her assets. The account provides that it is held in trust for Harriet, Ginny's nurse during the last years of Ginny's life. Less than a year later, Ginny dies, and Harriet withdraws the funds. These facts indicate

​The trustee is the person who benefits from a trust.

​Edie holds title to Floyd's property under circumstances that, although nothing is express, indicate this is apparently only for Floyd's benefit. This is

To probate a will means to release it to the media.​

​Kit has two children, Lea (the eldest) and Merl, both of whom predecease Kit. Lea is survived by a son, Nat, and Merl by two daughters, Opal and Pearl. On Kit's death, if the estate is distributed per capita

Roy dies without a will. The distribution of Roy's estate is prescribed by​

​Regina handwrites her entire will on a legal pad. This will is

​In his will, Bryson makes a gift of $12,000 to Curtis. This is

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A will must normally be attested to by two or three witnesses.

Gunther dies intestate. The debts of the estate are paid by his

A gift of real estate other than by will is a devise.

Ralph creates a trust by his will for the benefit of Stella and her family to come into existence on Ralph's death. This is

Greg dies without a will. His survivors include his spouse Helen and his two children, Irene and John. Under applicable laws, of Greg's estate, Helen will probably receive

In an abatement, the legatees receive increased benefits.

Finnegan dies without a will, with no surviving spouse or child. Finnegan's survivors include his grandson Gallagher, his niece Hailey, and his cousin Innis. In most states, his estate would pass to

A testator may revoke a will by intentionally tearing it.

In his will, Jason leaves $10,000 to each of his three children. However, after Jason dies and all his debts are paid, there is only $9,000 left in his estate. Each child will receive

Ginny opens an account at Home Bank for $250,000-most of her assets. The account provides that it is held in trust for Harriet, Ginny's nurse during the last years of Ginny's life. Less than a year later, Ginny dies, and Harriet withdraws the funds. These facts indicate

The trustee is the person who benefits from a trust.

Edie holds title to Floyd's property under circumstances that, although nothing is express, indicate this is apparently only for Floyd's benefit. This is

To probate a will means to release it to the media.

Kit has two children, Lea (the eldest) and Merl, both of whom predecease Kit. Lea is survived by a son, Nat, and Merl by two daughters, Opal and Pearl. On Kit's death, if the estate is distributed per capita

Roy dies without a will. The distribution of Roy's estate is prescribed by

Regina handwrites her entire will on a legal pad. This will is

In his will, Bryson makes a gift of $12,000 to Curtis. This is