Exam 52: Wills, Trusts, and Estates

A beneficiary under a will cannot be a witness of that will.

A health care directive names an individual or individuals who can make health care decisions if the maker of the directive is unable to do so.

The state of having died without leaving a will is known as ________.

Who is a beneficiary of a will?

According to the Uniform Simultaneous Death Act, each deceased's property goes to the government in case of simultaneous deaths.

Euthanasia pursuant to a living will is considered legal.

A Statute of Wills permits all oral wills to be legally binding in a state.

A properly executed subsequent will revokes a prior will.

A living trust does not allow creditors to obtain a lien against property in the trust.

An equitable trust that is implied by law to avoid fraud, unjust enrichment, and injustice is defined as a ________.

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

A ________ is a specialized state court that supervises the administration and settlement of estates.

Which of the following is a similarity between a living trust and an inter vivos trust?

A(n) ________ is a distribution of an estate in which each grandchild and great-grandchild of the deceased inherits equally with the children of the deceased.

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

A living trust is a document that states which lifesaving measures the signor does and does not want.

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

A Totten trust is considered a tentative trust because a trustee can add or withdraw funds from the trustee's account.

A codicil must be ________.

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