WorksheetsCh 11 Wills, Trusts and Estates
Total questions: 20
Worksheet time: 3600secs
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
To sign a document, (i.e., a will)
holographic will
estate
execute
devise
ESTATE TAX can also be called
transfer tax
use tax
receipt tax
income tax
LEGATEE can also be called
void
estate
optional
beneficiary
PROBATE can also be called
indemnification
ratification
will adjudication
estate tax
TRUST RES can also be called
property
interest
principle
trustworthy
Since both Heather and Harold wrote their wills in their own handwriting, the wills are both (which is not allowed in their state).
estates
intestate
holographic
administrator
The attorney could have discussed the benefits of drafting a(n) in addition to a will, so that their children won’t inherit all their money in one lump sum.
bequest
estate planning documents
intestacy
trust instrument
Testamentary capacity is a term referring to the mind of a person who is sane and competent to understand her acts.
True
False
1. A(n) is a person who is appointed by the court to manage the estate of a person who died without a will.
power of attorney
administrator
beneficiary
codicil
A is an attempt to defeat the probate of a will
attestation
execution
testator
will contest
