Question 1

Once executed,a will cannot be revoked.

Accepted Answer

A will can be revoked during the lifetime of the testator through a revocation clause or by executing a new will.

Question 2

Before he dies,Wilson makes out a will.After Wilson dies,the validity of his will must be established.This is accomplished by

Accepted Answer

The validity of a will is established through probate court, which is responsible for verifying that the will meets legal requirements and ensuring that the distribution of the estate is carried out according to the wishes outlined in the will. An administrator is typically appointed by the court to manage the estate during this process, but they do not establish the validity of the will. A testator is the person who creates the will, and a legatee is a person who receives a gift or inheritance from the will, but neither of these individuals play a role in determining the validity of the will.

Question 3

A trustee is a person for whose benefit a trust is held.

Accepted Answer

A trustee is a person who holds legal title to property and manages it for the benefit of another person or entity, who is known as the beneficiary.

Question 4

Patty creates a formal will designating how she would like her estate distributed after she dies.Patty is a(n)

Accepted Answer

A testator is a person who creates a will or designates how they want their estate to be distributed after they die. Patty, in this scenario, is creating a will, which makes her a testator. Heirs are people who directly inherit from the deceased, while executors and administrators are responsible for carrying out the instructions in the will or managing the estate.

Question 5

Stepchildren are considered heirs.

Accepted Answer

Stepchildren are not automatically considered heirs under most intestacy laws, which govern the distribution of an estate when there is no will. They are not biologically related to the deceased and are typically not included unless legally adopted.

Question 6

Under intestacy laws,only when no children or grandchildren survive the decedent will a surviving spouse succeed to the entire estate.

Accepted Answer

According to intestacy laws, if there are no surviving children or grandchildren, the surviving spouse will inherit the entire estate. If there are surviving children or grandchildren, the estate will be divided among them and the surviving spouse.

Question 7

Amelia dies without a will.A court appoints Bill to handle the probate of Amelia's estate.The administrator is

Accepted Answer

When a person dies without a will, a court appoints an administrator to handle the probate of their estate. In this scenario, Bill is appointed as the administrator, so the correct choice is C. Amelia cannot be the administrator as she has passed away, and her eldest heir is not automatically appointed as the administrator. The clerk of the court is not the administrator, but they may assist with the administrative process.

Question 8

A codicil is a clause in a will affirming an administrator's testamentary capacity.

Accepted Answer

A codicil is a legal document that modifies, amends or adds to an existing will, it does not affirm an administrator's testamentary capacity.

Question 9

Undue influence can occur when a named beneficiary is in a position to influence the making of a will.

Accepted Answer

Undue influence can occur when someone has power over the testator (the person making the will), such as a caregiver or close family member, and uses that power to convince the testator to make changes to the will in their favor. This can include influencing the decision to name a beneficiary.

Question 10

If no heirs are found,the property of a decedent is transferred to a charitable organization.

Accepted Answer

If no heirs are found, the property of a decedent usually reverts to the state or government. It is only in certain cases where the decedent has specifically named a charitable organization as the beneficiary or the recipient of the property that it may be transferred to such an organization.

Question 11

Ross makes out a will in which Steve is appointed to administer the will. After Ross dies,Steve cannot administer the will,and a court appoints Terry to handle the probate of Ross's estate. In this situation,the execu?tor is

Accepted Answer

The answer of Ross makes out a will in which...

Question 12

A per capita method of distribution shares equally among heirs in the same class.

Accepted Answer

In a per capita distribution, all members of a class receive an equal share of the inheritance, regardless of their individual relationship to the deceased. This means that if there are three siblings in a class, each sibling will receive one-third of the inheritance, regardless of whether any of their siblings have children or not.

Question 13

An express trust is created or declared in definite terms.

Accepted Answer

An express trust is formed by clear and explicit terms of a written or oral declaration by the settlor or the transferor of property. This means that it is created or declared in definite terms.

Question 14

A constructive trust is "constructed" by a property owner to fulfill certain unique functions outside the usual bounds of a trust.

Accepted Answer

The answer of A constructive trust is "constructed" by a...

Question 15

A will can be partially revoked.

Accepted Answer

A will can be partially revoked by making a new will or by executing a document called a "codicil," which modifies or revokes certain provisions of the existing will.

Question 16

A resulting trust is a trust implied in law.

Accepted Answer

A resulting trust is a trust that is implied in law by the presumed intention of the parties involved. It arises when a party contributes money or property towards the purchase of an asset, but the legal title to that asset is held by someone else. In such cases, a resulting trust is implied, which means that the legal owner holds the asset in trust for the person who contributed the money or property.

Question 17

Keri's will states,"I give to my sister Liz my condominium in Malibu,California." This is

Accepted Answer

"I give to my sister Liz my condominium in Malibu, California" is a specific devise because it specifically identifies a particular piece of property that is being given to a particular individual.

Question 18

A testator cannot revoke a will by burning it.

Accepted Answer

A testator can technically revoke a will by burning it, but it must be a deliberate act with the intention of revoking the will. However, it is not recommended to use this method as it can lead to disputes and legal challenges. The safest way to revoke a will is to properly execute a new will or a codicil that revokes the previous will.

Question 19

A divorce occurring after the execution of a will revokes dispositions of property to the former spouse.

Accepted Answer

According to most state laws in the United States, a divorce automatically revokes any provisions made in a will for the former spouse. This includes any dispositions of property or designation as an executor or trustee. However, it is important to update your estate planning documents after a divorce to ensure your wishes are carried out properly.

Question 20

The debts of a decedent must be satisfied out of his or her estate.

Accepted Answer

This is true. When a person dies, their debts become the responsibility of their estate, which is made up of all of their assets and property. The executor of the estate is responsible for paying off the decedent's debts before distributing any of the remaining assets to their beneficiaries.

Quiz 40: Wills and Trusts