Question 1

If a person wants to make a change to their will, the person can do so by:

Accepted Answer

A)  appearing in court. 
B)  executing a codicil. 
C)  posting a legal notice of the amendment. 
D)  striking out objectionable provisions in an existing will. 
A)  appearing in court. 
B)  executing a codicil. 
C)  posting a legal notice of the amendment. 
D)  striking out objectionable provisions in an existing will. B

Question 2

Explain the durable power of attorney for health care.

Accepted Answer

The durable power of attorney for health care is a type of durable power of attorney in which the principal specifically gives the attorney in fact the authority to make certain health care decisions for her if the principal should become incompetent. Depending on state law and the instructions given by the principal to the attorney in fact, this could include decisions such as consenting or withholding consent to surgery, admitting the principal to a nursing home, and possibly withdrawing or prolonging life support. This becomes relevant only in the event that the principal becomes incompetent. So long as the principal is competent, she retains the ability to make her own health care decisions. This power of attorney is revocable at the will of the principal.

Question 3

While on his deathbed, Miguel's grandfather, Julio, revoked all his prior wills and wrote out a new will in his own handwriting, leaving everything to the local animal shelter in trust for his dog, Fido. Julio signed the will and mailed it to the animal shelter before he died. Miguel wants to challenge the new will. Which of the following statements is true?

Accepted Answer

A)  Julio did not have the legal right to revoke his prior will without notice to Miguel and the other beneficiaries. 
B)  If Julio lacked the mental capacity to understand his actions, the new will is invalid. 
C)  Wills made on the deathbed cannot be lawfully executed, and Julio should have made the will before. 
D)  The will would be treated as valid only if Miguel had approved of the changes before Julio's death. 
A)  Julio did not have the legal right to revoke his prior will without notice to Miguel and the other beneficiaries. 
B)  If Julio lacked the mental capacity to understand his actions, the new will is invalid. 
C)  Wills made on the deathbed cannot be lawfully executed, and Julio should have made the will before. 
D)  The will would be treated as valid only if Miguel had approved of the changes before Julio's death. B

Question 4

A will proved by an affidavit sworn to and signed by the testator and the witnesses, at the time the will was executed, is called a self-proving affidavit.

Accepted Answer

A) True 
 B)False

Question 5

Define a constructive trust and the duty it imposes on the constructive trustee.

Accepted Answer

A constructive trust is a trust created

Question 6

A nuncupative will:

Accepted Answer

A)  is an written will that is valid only under limited circumstances. 
B)  is valid only to transfer real property. 
C)  must be signed by the testator. 
D)  is valid only when made by soldiers or sailors. 
A)  is an written will that is valid only under limited circumstances. 
B)  is valid only to transfer real property. 
C)  must be signed by the testator. 
D)  is valid only when made by soldiers or sailors.

Question 7

Describe what is meant by testamentary capacity.

Accepted Answer

The legal capacity to make a valid will

Question 8

Rasool and Kelly are married and have three children. Rasool and Kelly own their home together as tenants in the entirety. If Rasool dies intestate, under the laws of most states, who owns the home?

Accepted Answer

A)  Kelly owns one-half and the children each own one-sixth share of the home. 
B)  Kelly and each of the children own one-fourth share of the home. 
C)  Each of the children owns one-third of the home. 
D)  Kelly owns the home by right of survivorship. 
A)  Kelly owns one-half and the children each own one-sixth share of the home. 
B)  Kelly and each of the children own one-fourth share of the home. 
C)  Each of the children owns one-third of the home. 
D)  Kelly owns the home by right of survivorship.

Question 9

Testamentary capacity refers to the:

Accepted Answer

A)  legal capacity to make a valid will. 
B)  limit on how much property can be inherited by a given individual. 
C)  ability to give gifts to the testator's issues or descendants. 
D)  lack of awareness of the value of the property by the testator. 
A)  legal capacity to make a valid will. 
B)  limit on how much property can be inherited by a given individual. 
C)  ability to give gifts to the testator's issues or descendants. 
D)  lack of awareness of the value of the property by the testator.

Question 10

At common law, a widow had the right to a life estate in one-third of the lands owned by her husband during their marriage. This was known as a widow's curtesy right.

Accepted Answer

A) True 
 B)False

Question 11

Under the doctrine of cy pres, when the settlor has not specifically provided for a substitute beneficiary, the:

Accepted Answer

A)  trust will automatically fail. 
B)  court will direct the application of the property to some charitable purpose that falls within the settlor's general charitable intention. 
C)  court will direct that the property be handed over to the government for administrative purposes. 
D)  original beneficiaries can use the property for a charitable purpose. 
A)  trust will automatically fail. 
B)  court will direct the application of the property to some charitable purpose that falls within the settlor's general charitable intention. 
C)  court will direct that the property be handed over to the government for administrative purposes. 
D)  original beneficiaries can use the property for a charitable purpose.

Question 12

When a person dies intestate, the property the person owns:

Accepted Answer

A)  will be distributed to the people designated as the intestate's heirs. 
B)  will be considered public property and will be at the government's disposal. 
C)  escheats to the state. 
D)  will go to the biological children, not the adopted children. 
A)  will be distributed to the people designated as the intestate's heirs. 
B)  will be considered public property and will be at the government's disposal. 
C)  escheats to the state. 
D)  will go to the biological children, not the adopted children.

Question 13

Trusts can be set up so that a beneficiary's interest cannot be reached by his creditors in many situations. Such trusts are called spendthrift trusts.

Accepted Answer

A) True 
 B)False

Question 14

Under the Uniform Simultaneous Death Act, if a husband and wife die under circumstances that make it difficult or impossible to determine who died first, the _____.

Accepted Answer

A)  husband's property will go to his relatives and the wife's property to her relatives 
B)  husband's property will automatically be distributed among his siblings 
C)  wife's property will revert to the state 
D)  entire property will automatically be distributed among the husband's relatives 
A)  husband's property will go to his relatives and the wife's property to her relatives 
B)  husband's property will automatically be distributed among his siblings 
C)  wife's property will revert to the state 
D)  entire property will automatically be distributed among the husband's relatives

Question 15

Nuncupative wills are wills that are written and signed in the testator's handwriting.

Accepted Answer

A) True 
 B)False

Question 16

Domicile refers to a person's:

Accepted Answer

A)  permanent home. 
B)  native town. 
C)  state where he probates his will. 
D)  a person's necessity to make a particular state, home. 
A)  permanent home. 
B)  native town. 
C)  state where he probates his will. 
D)  a person's necessity to make a particular state, home.

Question 17

Children of the testator who were born or adopted after the will was executed are called pretermitted children.

Accepted Answer

A) True 
 B)False

Question 18

If the deceased left a will, it is likely that she designated her personal representative in the will. The personal representative under a will is also known as the attorney-in-fact.

Accepted Answer

A) True 
 B)False

Question 19

A codicil is a(n):

Accepted Answer

A)  amendment to a will. 
B)  automatic revocation of a will. 
C)  written document that lists future health care decisions for incapacitated individuals. 
D)  creditor's claim against the estate. 
A)  amendment to a will. 
B)  automatic revocation of a will. 
C)  written document that lists future health care decisions for incapacitated individuals. 
D)  creditor's claim against the estate.

Question 20

Describe the responsibilities of a personal representative in the administration of an estate.

Accepted Answer

The responsibilities of a personal repre

Exam 36: Estates and Trusts

If a person wants to make a change to their will, the person can do so by:

Explain the durable power of attorney for health care.

A will proved by an affidavit sworn to and signed by the testator and the witnesses, at the time the will was executed, is called a self-proving affidavit.

Define a constructive trust and the duty it imposes on the constructive trustee.

A nuncupative will:

Describe what is meant by testamentary capacity.

Rasool and Kelly are married and have three children. Rasool and Kelly own their home together as tenants in the entirety. If Rasool dies intestate, under the laws of most states, who owns the home?

Testamentary capacity refers to the:

At common law, a widow had the right to a life estate in one-third of the lands owned by her husband during their marriage. This was known as a widow's curtesy right.

Under the doctrine of cy pres, when the settlor has not specifically provided for a substitute beneficiary, the:

When a person dies intestate, the property the person owns:

Trusts can be set up so that a beneficiary's interest cannot be reached by his creditors in many situations. Such trusts are called spendthrift trusts.

Under the Uniform Simultaneous Death Act, if a husband and wife die under circumstances that make it difficult or impossible to determine who died first, the _____.

Nuncupative wills are wills that are written and signed in the testator's handwriting.

Domicile refers to a person's:

Children of the testator who were born or adopted after the will was executed are called pretermitted children.

If the deceased left a will, it is likely that she designated her personal representative in the will. The personal representative under a will is also known as the attorney-in-fact.

A codicil is a(n):

Describe the responsibilities of a personal representative in the administration of an estate.

Law, Legal Reasoning, and the Legal Profession

Dispute Settlement

Business Ethics and Corporate Social Responsibility

Business and the Constitution

Crimes

Intentional Torts

Negligence and Strict Liability

Licensing and Intellectual Property

The Nature and Origins of Contracts

Creating a Contract: Offers

Creating a Contract: Acceptances

Consideration

Capacity to Contract

Voluntary Consent

Illegality

The Form and Meaning of Contracts

Third Parties Contract Rights

Performance and Remedies

Formation and Terms of Sales Contracts

Warranties and Product Liability

Performance of Sales Contracts

Remedies for Breach of Sales Contracts

The Agency Relationship-Creation, Duties, and Termination

Liability of Principals and Agents to Third Parties

Employment Laws

Which Form of Business Organization

Partnerships

Formation and Termination of Corporations

Management of the Corporate Business

Financing the Corporation and the Role of the Shareholders

Securities Regulation

Legal Liability of Accountants

Personal Property and Bailments

Real Property

Landlord and Tenant

Insurance

Negotiable Instruments

Negotiation and Holder in Due Course

Liability of Parties

Checks and Electronic Fund Transfers

Introduction to Security

Security Interests in Personal Property

Bankruptcy

The Antitrust Laws

Consumer Protection Laws

Environmental Regulation

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