Exam 52: Wills, trusts, and Estates

What is a trust corpus?

A codicil is considered to be a separate instrument from the will it references.

Mr.Cartledge places his estate in a trust while he is alive,and he names a local bank as the trustee to administer the trust and invest its assets.The trust designates his wife as the income beneficiary of his estate and stipulates that their children Brendan and Margaret will receive the assets of the trust after his wife's death.Brendan and Margaret are the ________ in this scenario.

What are the different elements a court considers to determine the presence of undue influence in making a will?

Which of the following wills is an exception to the writing rule of the Statute of Wills?

A codicil must be ________.

The primary purpose of using a living trust is to avoid probate associated with using a will.

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

When does the deceased's property,in intestacy,escheat to the government?

A gift of $30,000 to a named beneficiary is an example of a ________ gift.

If two or more testators execute the same instrument as their will,the document is called a reciprocal will.

A will can be created to come into effect during one's lifetime.

A gift of real estate by will is called a(n)________.

Bill and Deidre were married for 22 years.They died in a car accident without leaving behind a will.They had no surviving children,but they were close to many of their living relatives.According to the Uniform Simultaneous Death Act,how would the couple's properties be distributed following their death?

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

Who receives the trust res on the termination of a trust?

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

All trusts are deemed irrevocable at the time of creation.

The receiver of property under intestacy statutes is known as a(n)________.

The ________ doctrine says that if the property a testator leaves is insufficient to satisfy all the beneficiaries named in a will and there are both general and residuary bequests,the residuary bequest is paid last.