Question 1

In her will, Delia makes a gift of $10,000 to Esteban. This gift is
A) a trust.
B) a devise.
C) a legacy.
D) residuary.

Accepted Answer

A legacy is a gift of personal property or money left to someone in a will.

Question 2

Les executes a will in which he leaves everything to his spouse, Mindy, and in which he appoints Norma to administer the estate. The will must be signed by
A) Les only.
B) Les and Mindy only.
C) Les, Mindy, and Norma.
D) a probate judge.

Accepted Answer

The answer of Les executes a will in which he...

Question 3

Finn does not execute a will before he dies, with no surviving spouse or child. His survivors include his grandson Gage and his niece Hailey. In most states, his estate would pass to
A) Gage only.
B) Hailey only.
C) Gage and Hailey in equal measure.
D) the state.

Accepted Answer

In most states, inheritance laws favor direct descendants over more distant relatives. Since Gage is Finn's grandson (a direct descendant), he would typically inherit the estate over Hailey, a niece (a more distant relative).

Question 4

Grover does not execute a will before he dies. His survivors include his spouse Helene and their two children, Irene and John. With respect to Grover's estate, under the usual intestacy laws, Helene will probably receive
A) everything.
B) nothing.
C) one-half.
D) one-third.

Accepted Answer

The answer of Grover does not execute a will before...

Question 5

Mace is asked to serve as a witness to Niles's will. To qualify, Mace must be
A) a U.S. citizen.
B) all of the choices.
C) at least eighteen years old.
D) mentally competent.

Accepted Answer

The answer of Mace is asked to serve as a...

Question 6

Jason does not execute a will before he dies. With respect his estate, the assets are distributed first to
A) pay the debts of the decedent.
B) support the surviving spouse and children.
C) benefit the collateral heirs.
D) satisfy gifts to the lineal heirs.

Accepted Answer

When someone dies without a will, their estate is distributed according to intestacy laws, which prioritize paying off any debts of the deceased before distributing the remaining assets to heirs.

Question 7

Ruth executes a will naming her nephew Stan as sole beneficiary. One year later, Ruth executes another will, naming her niece Tammy as sole beneficiary, but does not state that she is revoking the previous will. On Ruth's death
A) Stan and Tammy will share the estate in equal shares.
B) Stan will be the sole heir.
C) Tammy will be the sole heir.
D) the estate will pass as if there were no will.

Accepted Answer

The most recent will typically revokes any prior wills, even if it does not explicitly state so, making Tammy the sole heir.

Question 8

Carl dies without a will, survived by his granddaughter Dora and her brother Elton. The grandchildren are Carl's
A) collateral heirs.
B) decedents.
C) trustees.
D) lineal heirs.

Accepted Answer

Lineal heirs are descendants of the deceased, such as children and grandchildren. Collateral heirs are related by blood but not in a direct line of descent, such as siblings, aunts, and uncles. Decedents are deceased individuals, and trustees are individuals who hold fiduciary responsibility for managing assets on behalf of a beneficiary or beneficiaries.

Question 9

Kent's will states, "I leave my blue sports car to Lorena." This is
A) a specific legacy.
B) a specific devise.
C) a specific trust.
D) a specific residuary.

Accepted Answer

A specific legacy refers to a particular item or asset bequeathed to a beneficiary in a will, such as a specific car to Lorena.

Question 10

The grandchildren, brothers, and sisters of a decedent are known as his or her
A) collateral heirs.
B) lineal heirs.
C) adoptive heirs.
D) per stirpes or per capita heirs.

Accepted Answer

The answer of The grandchildren, brothers, and sisters of a...

Question 11

Molly is not married and has no children. She executes a will, disposing of her estate to her sister Nina. Later, Molly marries Owen. They have no children. Molly does not execute a new will before she dies. With respect to Molly's estate, in most states Owen is entitled to
A) everything.
B) nothing.
C) one-half.
D) one-third.

Accepted Answer

The answer of Molly is not married and has no...

Question 12

For Vern's will to be valid, he must be mentally competent at the time of
A) death.
B) the acquisition of the property to be distributed under the will.
C) the making of the will.
D) the probate of the will.

Accepted Answer

Vern must be mentally competent at the time of making the will for it to be considered valid. This ensures that he understands the nature of the document and the implications of its contents.

Question 13

Emmett has two children, Frank and Gene, both of whom predecease Emmett. Frank is survived by his daughter Heidi. Gene is survived by his sons Ike and Jake. On Emmett's death, if the distribution of his estate is per stirpes , Heidi will receive
A) everything.
B) nothing.
C) one-half.
D) one-third.

Accepted Answer

The answer of Emmett has two children, Frank and Gene,...

Question 14

According to the terms of Kim's will, specific gifts are made, and taxes and other estate debts are paid. The assets of the estate that remain are most likely to be distributed through
A) a codicil.
B) a type of trust.
C) a revocation.
D) a residuary clause.

Accepted Answer

A residuary clause in a will specifies how the remaining assets of an estate are to be distributed after specific gifts, taxes, and debts have been addressed.

Question 15

Sally handwrites her will on a sheet of blank paper. This will is
A) invalid.
B) holographic.
C) honorific.
D) homogeneous.

Accepted Answer

A holographic will is a will that is handwritten and signed by the testator.

Question 16

Eve, Fran, and Gina want to execute wills. Eve is fifteen years old, Fran is seventeen, and Gina is nineteen. In most states, those with the capacity to execute a will are
A) Eve, Fran, and Gina.
B) Fran and Gina only.
C) Gina only.
D) Eve and Gina only.

Accepted Answer

In most states, the legal age to execute a will is 18. Therefore, only Gina, who is nineteen, has the capacity to execute a will.

Question 17

Leona executes a separate written instrument to revoke her prior will. This separate document is
A) a residuary clause.
B) a codicil.
C) a specific bequest.
D) a type of trust.

Accepted Answer

A codicil is a legal document that modifies, amends, or revokes a will or part of a will.

Question 18

Patty executes a will, leaving her estate to her spouse Quentin. They have a daughter Rita. Later, Patty and Quentin divorce. Patty does not execute a new will before she dies. With respect to Patty's estate, Quentin is entitled to
A) everything.
B) nothing.
C) one-half.
D) one-third.

Accepted Answer

When Patty and Quentin divorced, any provisions in Patty's will leaving her estate to Quentin were revoked by operation of law. In the absence of a new will or other estate planning documents, Patty's assets would be distributed according to the laws of intestacy in her state. Depending on the state, this could mean that Rita would receive the entire estate or share it with other family members. Quentin, as Patty's ex-spouse, would not be entitled to any portion of the estate.

Question 19

Maria does not execute a will before she dies. The distribution of her estate is regulated by
A) the comprehension of the natural objects of her bounty.
B) the decisions of a trustee appointed by a probate court.
C) statutes of descent and distribution.
D) the terms of a different decedent's will disposing of a similar estate.

Accepted Answer

When a person dies without a will, their estate is distributed according to the statutes of descent and distribution, which are laws that dictate how assets are divided among heirs.

Question 20

Tom writes out his will on a sheet of hospital stationary before going into emergency surgery. This is
A) undue influence.
B) a holographic will.
C) a testamentary trust.
D) fraud.

Accepted Answer

A holographic will is a will that is entirely written and signed by the testator (the person making the will) and does not require any witnesses.

Quiz 40: Wills and Trusts

In her will, Delia makes a gift of $10,000 to Esteban. This gift is

Les executes a will in which he leaves everything to his spouse, Mindy, and in which he appoints Norma to administer the estate. The will must be signed by

Finn does not execute a will before he dies, with no surviving spouse or child. His survivors include his grandson Gage and his niece Hailey. In most states, his estate would pass to

Grover does not execute a will before he dies. His survivors include his spouse Helene and their two children, Irene and John. With respect to Grover's estate, under the usual intestacy laws, Helene will probably receive

Mace is asked to serve as a witness to Niles's will. To qualify, Mace must be

Jason does not execute a will before he dies. With respect his estate, the assets are distributed first to

Ruth executes a will naming her nephew Stan as sole beneficiary. One year later, Ruth executes another will, naming her niece Tammy as sole beneficiary, but does not state that she is revoking the previous will. On Ruth's death

Carl dies without a will, survived by his granddaughter Dora and her brother Elton. The grandchildren are Carl's

Kent's will states, "I leave my blue sports car to Lorena." This is

The grandchildren, brothers, and sisters of a decedent are known as his or her

Molly is not married and has no children. She executes a will, disposing of her estate to her sister Nina. Later, Molly marries Owen. They have no children. Molly does not execute a new will before she dies. With respect to Molly's estate, in most states Owen is entitled to

For Vern's will to be valid, he must be mentally competent at the time of

Emmett has two children, Frank and Gene, both of whom predecease Emmett. Frank is survived by his daughter Heidi. Gene is survived by his sons Ike and Jake. On Emmett's death, if the distribution of his estate is per stirpes , Heidi will receive

According to the terms of Kim's will, specific gifts are made, and taxes and other estate debts are paid. The assets of the estate that remain are most likely to be distributed through

Sally handwrites her will on a sheet of blank paper. This will is

Eve, Fran, and Gina want to execute wills. Eve is fifteen years old, Fran is seventeen, and Gina is nineteen. In most states, those with the capacity to execute a will are

Leona executes a separate written instrument to revoke her prior will. This separate document is

Patty executes a will, leaving her estate to her spouse Quentin. They have a daughter Rita. Later, Patty and Quentin divorce. Patty does not execute a new will before she dies. With respect to Patty's estate, Quentin is entitled to

Maria does not execute a will before she dies. The distribution of her estate is regulated by

Tom writes out his will on a sheet of hospital stationary before going into emergency surgery. This is