Exam 31: Wills and Trusts

The testator's signature must appear at the end of a will.

A decedent is a person who has died.

A divorce necessarily revokes an entire will.

A lapsed legacy will occur if the testator predeceases the gift.

Paul makes a gift of real estate in his will to Orly. This is

A reference in a will to a written memorandum that is not in the will renders the will invalid.

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

Rose makes out a will in which Steve is appointed to administer the will. After Rose dies, Steve cannot administer the will, and a court appoints Terry to handle the probate of the estate. In this situation, the executor is

Undue influence can occur when a named beneficiary is in a position to influence the making of a will.

Once executed, a will cannot be revoked.

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

Jim is fifteen years old, Leo is eighteen years old and Bev is twenty-one years old. Phil is looking for witnesses for his will. Of the three persons mentioned, the witnesses can include

In an abatement, the legatees receive increased benefits.

Winifred, an elderly woman, is diagnosed with lung cancer. She realizes her condition may worsen, and that there is a chance that at some point she will become so weak the only way she will be able to breathe is with the help of medical machinery. She does not want to be kept alive in such a "vegetative state." What are Winifred's options?

Kim is asked to serve as a witness to Lian's will. To qualify, Kim must be​

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

Maya dies without a will. A court appoints Nora to handle the probate of Maya's estate. The administrator of the estate is​

A legacy is a gift of personal property by will.

One who dies after having made a valid will is said to have died intestate.

A gift of real estate by will is a bequest.