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Wills, Trusts, and Probate LEG 233 - Test 1

Beschreibung

Chapters 1 - 5
Brittany Mae
Quiz von Brittany Mae, aktualisiert more than 1 year ago
Brittany Mae
Erstellt von Brittany Mae vor mehr als 8 Jahre
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Zusammenfassung der Ressource

Frage 1

Frage
The primary purpose of a living will is to allow individuals to distribute their property as they choose upon death.
Antworten
  • True
  • False

Frage 2

Frage
All real and personal property owned by a decedent at the time of death must always pass through probate.
Antworten
  • True
  • False

Frage 3

Frage
Which of the following activities are permissible for paralegals to do?
Antworten
  • Give Legal Advice
  • Draft estate planning documents under the supervision of an attorney
  • Interview clients in order to gather information
  • Answers b and c

Frage 4

Frage
A decedent who dies without a will is said to die intestate.
Antworten
  • True
  • False

Frage 5

Frage
A written expression of a person's wishes to be allowed to die a natural death and not be kept alive by heroic or artificial methods.
Antworten
  • Holographic Will
  • Living Will
  • Will
  • Estate Plan

Frage 6

Frage
A plan made to provide for the maker's physical and financial needs during lifetime, as well as the distribution of their estate upon death.
Antworten
  • Holographic Will
  • Living Will
  • Will
  • Estate Plan

Frage 7

Frage
A will that is written completely in the handwriting of the testator and signed and dated by the maker. Witnesses may or may not be required, depending on state law.
Antworten
  • Holographic Will
  • Living Will
  • Will
  • Estate Plan

Frage 8

Frage
A written document that leaves the estate of the individual who signed the will to the named persons or entities.
Antworten
  • Holographic Will
  • Living Will
  • Will
  • Estate Plan

Frage 9

Frage
Having the mental ability to make a will is known as being "of sound mind."
Antworten
  • True
  • False

Frage 10

Frage
Which of the following is not an example of real property?
Antworten
  • Land
  • Building
  • Garage
  • Pen

Frage 11

Frage
What type(s) or property is/are immovable?
Antworten
  • Real and personal property
  • Real property only
  • Personal property only
  • None of the above

Frage 12

Frage
The purpose of an estate plan is solely to provide directions for the distribution of an individual's estate upon death.
Antworten
  • True
  • False

Frage 13

Frage
Which of the following is a written document that leaves the estate of the individual who signed the document to the named persons or entities?
Antworten
  • Will
  • Living Will
  • Power of attorney
  • All of the above

Frage 14

Frage
If Sam and Sue are co-owners of a joint bank account and Sue passes away, Sam becomes the legal owner of the account.
Antworten
  • True
  • False

Frage 15

Frage
A mountain is real property.
Antworten
  • True
  • False

Frage 16

Frage
A quitclaim deed is executed while the grantor is alive but takes effect only upon the death of the grantor.
Antworten
  • True
  • False

Frage 17

Frage
A deed in which the personal representative of an estate is the grantor and is transferring real property to the decedent's heirs or devisees.
Antworten
  • Beneficiary Deed
  • Warranty Deed
  • Quitclaim Deed
  • Personal Representative's Deed
  • Grant Deed

Frage 18

Frage
A deed executed while the grantor is alive that takes effect only upon the death of the grantor.
Antworten
  • Beneficiary Deed
  • Warranty Deed
  • Quitclaim Deed
  • Personal Representative's Deed
  • Grand Deed

Frage 19

Frage
A deed that transfers title to real property from a grantor to a grantee, usually used in connection with a gift of property or a transfer between family members.
Antworten
  • Beneficiary Deed
  • Warranty Deed
  • Quitclaim Deed
  • Personal Representative's Deed
  • Grant Deed

Frage 20

Frage
A deed to real property that transfers to the grantee only whatever interest the grantor has in the property.
Antworten
  • Beneficiary Deed
  • Warranty Deed
  • Quitclaim Deed
  • Personal Representative's Deed
  • Grant Deed

Frage 21

Frage
A deed to real property, which guarantees that the seller has clear title to the property, and that title can be transferred or conveyed to the buyer.
Antworten
  • Beneficiary Deed
  • Warranty Deed
  • Quitclaim Deed
  • Personal Representative's Deed
  • Grant Deed

Frage 22

Frage
Which of the following is not real property?
Antworten
  • House
  • Shed
  • Corn field
  • Stove

Frage 23

Frage
A grant deed typically transfers title to real property from a grantor to a grantee in connection with a gift of property or a transfer between family members or to a family trust.
Antworten
  • True
  • False

Frage 24

Frage
Pay-on-Death (POD) and Transfer-on-Death (TOD) accounts are probate assets.
Antworten
  • True
  • False

Frage 25

Frage
Which of the following is not personal property?
Antworten
  • Vase
  • Dresser
  • Dog
  • Shed

Frage 26

Frage
Betsy is purchasing real property from an acquaintance, Sarah. What type of deed should Betsy expect from Sarah in order to guarantee that she has clear title to the property?
Antworten
  • Warranty Deed
  • Quitclaim Deed
  • Grant Deed
  • Personal Representative's Deed

Frage 27

Frage
John is allowed to live at 123 Home Street for his lifetime and, upon John's death, the property will pass to John's son. What interest does John have in the property?
Antworten
  • Fee simple
  • Life estate
  • Tenancy in common
  • Community property

Frage 28

Frage
Which of the following should be included on an estate planning checklist or intake sheet?
Antworten
  • Client's name, date of birth, and adress
  • Marital status
  • Children's names and adresses
  • All of the above

Frage 29

Frage
A plan made to provide for the maker's physical and financial needs during lifetime, as well as the distribution of the maker's estate upon death.
Antworten
  • Estate plan
  • Persistent Vegetative State (PVS)
  • Health Care Proxy
  • Power of Attorney

Frage 30

Frage
A written statement authorizing an agent or surrogate to make medical treatment decisions for another in the event of the other's inability to do so.
Antworten
  • Estate plan
  • Persistent Vegetative State (PVS)
  • Health Care Proxy
  • Power of Attorney

Frage 31

Frage
A legal document that authorizes another person to act as the grantor's attorney-in-fact and agent; execution before a notary public is nearly always required.
Antworten
  • Estate Plan
  • Persistent Vegetative State (PVS)
  • Health Care Proxy
  • Power of Attorney

Frage 32

Frage
A condition of patients with severe brain damage in whom a coma has progressed to a state of wakefulness without detectable awareness.
Antworten
  • Estate Plan
  • Persistent Vegetative State (PVS)
  • Health Care Proxy
  • Power of Attorney

Frage 33

Frage
It is perfectly acceptable for a caregiver to accompany an elderly client into an estate planning consultation.
Antworten
  • True
  • False

Frage 34

Frage
A living trust does not become effective until the trustor/settlor passes away.
Antworten
  • True
  • False

Frage 35

Frage
Which of the following can paralegals ethically do?
Antworten
  • Prepare documents under the supervision of an attorney
  • Give legal advice
  • Advise clients about which document they need
  • Both a and c

Frage 36

Frage
When drafting a living trust for a client, a pour-over will is merely optional.
Antworten
  • True
  • False

Frage 37

Frage
When does a springing power of attorney become effective?
Antworten
  • Immediately upon execution
  • Only upon determination by a doctor that the principal is incapacitated
  • Upon the date set forth in the document
  • None of the above

Frage 38

Frage
It is okay for attorneys and paralegals to draft wills that include testamentary bequests to themselves if a client asks for it to be done.
Antworten
  • True
  • False

Frage 39

Frage
It is advisable that clients select an alternate agent so that if their first appointed agent is unable to serve, there is someone else appointed to do the job.
Antworten
  • True
  • False

Frage 40

Frage
Which of the following is a written expression of a person's wishes to be allowed to die a natural death and not be kept alive by heroic or artificial measures?
Antworten
  • Power of Attorney
  • Last will and testament
  • Living will
  • Health Care Power of Attorney

Frage 41

Frage
Which of the following may be a source of power for an attorney-in-fact appointed under a durable power of attorney?
Antworten
  • State Statute
  • Enumerated powers in the power of attorney document
  • Both a and b
  • None of the above

Frage 42

Frage
Who of the following have a fiduciary duty to uphold?
Antworten
  • An agent
  • An attorney-in-fact
  • A principal
  • Both a and b

Frage 43

Frage
A durable power of attorney takes effect immediately upon execution.
Antworten
  • True
  • False

Frage 44

Frage
Which of the following are the primary purposes for executing a living will?
Antworten
  • To preserve the principal's assets for family members
  • To avoid unnecessary suffering on the part of loved ones
  • To ensure that the principal will receive tube feeding if incapacitated with no hope of recovery
  • Both a and b

Frage 45

Frage
A condition of patients with severe brain damage in whom a coma has progressed to a state of wakefulness without detectable awareness.
Antworten
  • Health Care Proxy
  • Persistent Vegetative State
  • Living Will
  • Power of Attorney

Frage 46

Frage
A written expression of a person's wishes to be allowed to die a natural death and not be kept alive by heroic or artificial methods.
Antworten
  • Health Care Proxy
  • Persistent Vegetative State
  • Living Will
  • Power of Attorney

Frage 47

Frage
A written statement authorizing an agent or surrogate to make medical treatment decisions for another in the event of the other's inability to do so.
Antworten
  • Health Care Proxy
  • Persistent Vegetative State
  • Living Will
  • Power of Attorney

Frage 48

Frage
A person who authorizes another, as an agent, to represent him or her.
Antworten
  • Health Care Proxy
  • Persistent Vegetative State
  • Living Will
  • Power of Attorney

Frage 49

Frage
The famous Terry Schiavo case illustrates the importance of executing which estate planning document?
Antworten
  • Power of Attorney
  • Last Will and Testament
  • Living Will
  • All of the above

Frage 50

Frage
A health care proxy does not take effect until or unless the principal becomes unable to make his or her own medical decisions.
Antworten
  • True
  • False

Frage 51

Frage
Powers of attorney generally need only be signed and dated by the principal in order to be effective.
Antworten
  • True
  • False

Frage 52

Frage
Third parties do not have to honor validly executed powers of attorney if they don't want to.
Antworten
  • True
  • False

Frage 53

Frage
A springing power of attorney becomes effective upon the occurrence of a specific event at a future time.
Antworten
  • True
  • False

Frage 54

Frage
A gift in a will that takes place only if a particular event has occurred by the time the maker of the will dies.
Antworten
  • Conditional Bequest
  • Legacy
  • Specific Bequest
  • Executory Bequest

Frage 55

Frage
A will that is written completely in the handwriting of the testator and signed and dated by the maker. Witnesses may or may not be required, depending on state law.
Antworten
  • Holographic Will
  • Nuncupative Will
  • Pour-over Will
  • Simple Will

Frage 56

Frage
A will that has been delivered orally to witnesses, as opposed to being written down and executed with the usual formalities.
Antworten
  • Holographic Will
  • Nuncupative Will
  • Pour-over Will
  • Simple Will

Frage 57

Frage
A will drafted for a person who has already executed a living trust that leaves all remaining property to the trust.
Antworten
  • Holographic Will
  • Nuncupative Will
  • Pour-over Will
  • Simple Will

Frage 58

Frage
A will that does not contain tax planning language.
Antworten
  • Holographic Will
  • Nuncupative Will
  • Pour-over Will
  • Simple Will

Frage 59

Frage
A residuary clause a clause included in a will in order to prevent the disinherited individual from contesting the probate of the will, resulting in delays and additional administrative expenses for the estate.
Antworten
  • True
  • False

Frage 60

Frage
The primary purpose of executing a will is to control the disposition of one's assets after death.
Antworten
  • True
  • False

Frage 61

Frage
The requirements for due execution of a will vary by state, but most states require that, at a minimum, the will is written, signed and dated by the maker, and attested and signed by two witnesses.
Antworten
  • True
  • False

Frage 62

Frage
After all other bequests have been made under a will, which clause is used to distribute whatever assets remain?
Antworten
  • No content provision
  • Residuary Clause
  • Option to purchase property
  • Testamentary trust

Frage 63

Frage
In the revocation clause, the testator states that he or she revokes all prior wills and codicils.
Antworten
  • True
  • False

Frage 64

Frage
What type of will is written completely in the handwriting of the testator and signed and dated by the maker?
Antworten
  • Nuncupative Will
  • Pour-over Will
  • Simple Will
  • Holographic Will

Frage 65

Frage
Which of the following wills accompanies a revocable living trust?
Antworten
  • Pour-over Will
  • Nuncupative Will
  • Holographic Will
  • Simple Will

Frage 66

Frage
Majority age is twenty-one (21) in most states, but is age eighteen (18) in a minority of states.
Antworten
  • True
  • False
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