Ch 11 Wills, Trusts and Estates

A living trust is also called a(n):

• Totten trust

• pay-on-death trust

• A-B trust.

• inter vivos trust

An attestation clause always begins a will.

• True

• False

A trustee appointed by the court is a:

• legator

• trust officer

• trustee ad litem

• testator

The attestation clause is:

• a gift of real property by will

• usually at the end of a will, it provides evidence that execution of a will was observed by witnesses

• beneficiary of a devise

• pre-death arrangement of a person’s property and estate

A nuncupative will could be a will declared orally by a Roman Catholic nun during her last rites of the church in the presence of priests as long as her wishes are later reduced to writing by those present.

• True

• False

All that a person owns at death is considered:

• real property

• community property

• personal property

• decedent’s estate

The judicial act where a will is adjudicated to be valid

• execute

• codicil

• probate

• surety

The person who holds the legal title to trust property is a:

a. a trustee.

b. a guardian.

c. a fiduciary.

d. all of the above

• a fiduciary

• a guardian

• all of the above

• a trustee

A power of attorney that remains effective even though the grantor is incapacitated is a ___________

• legator

• codicil

• administrator

• durable power of attorney

The publication clause of a will always announces the obituary information (funeral, place of burial, etc.) that the testator wishes printed in the newspaper.

• True

• False