Exam 50: Trusts and Wills

A trustee has a duty to make proper allocation of benefits and burdens between income beneficiaries and remaindermen.Which of the following statements is true concerning this allocation?

A trust will fail for lack of:

In order to be valid,a will must generally include all but which one of the following?

Match each statement with the correct term below. -restrictive covenant

Which of the following will be acceptable as a witness to a will?

The duties of a trustee are:

Match each statement with the correct term below. -easement

Match each statement with the correct term below. -bailment

An express trust is a trust:

A stepchild will not ordinarily inherit under intestacy statutes unless legally adopted.

Megan,who has no heirs or next of kin,makes a will leaving her estate to her best friend,Pat.If Megan's will is witnessed by only two instead of three people as required by her state statute,upon her death her estate will:

Match each statement with the correct term below. -fee simple

An attorney receives a check from the defendant in settlement of a lawsuit brought by his client,the plaintiff.Even if the check is made out in the name of the attorney,it will belong to the client as a:

Match each statement with the correct term below. -assignment

In 2000,Boyd created a trust that would become effective on his death.In the trust instrument,Boyd specified that all of the income from his stocks and bonds be used for the benefit of St.John's Hospital and indicated that his brother Chad should administer the trust. a.What kind of trust is this? b.What is Boyd with relationship to the trust? c.What is the corpus of the trust? d.What is Chad with relationship to the trust?

Of the following elements,which one is NOT required to create an enforceable trust?

The courts may not create implied trusts.

For a memorandum to be incorporated into a will,which of the following conditions must be met? The memorandum must be:

Which of the following is true regarding property distribution upon a person's death intestate?

Match each statement with the correct term below. -confusion