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Wills, Trusts, and Probate LEG 233 - Test 1

Descrição

Chapters 1 - 5
Brittany Mae
Quiz por Brittany Mae, atualizado more than 1 year ago
Brittany Mae
Criado por Brittany Mae aproximadamente 9 anos atrás
156
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Resumo de Recurso

Questão 1

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

Questão 2

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

Questão 3

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

Questão 4

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

Questão 5

Questão
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.
Responda
  • Holographic Will
  • Living Will
  • Will
  • Estate Plan

Questão 6

Questão
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.
Responda
  • Holographic Will
  • Living Will
  • Will
  • Estate Plan

Questão 7

Questão
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.
Responda
  • Holographic Will
  • Living Will
  • Will
  • Estate Plan

Questão 8

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

Questão 9

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

Questão 10

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

Questão 11

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

Questão 12

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

Questão 13

Questão
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?
Responda
  • Will
  • Living Will
  • Power of attorney
  • All of the above

Questão 14

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

Questão 15

Questão
A mountain is real property.
Responda
  • True
  • False

Questão 16

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

Questão 17

Questão
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.
Responda
  • Beneficiary Deed
  • Warranty Deed
  • Quitclaim Deed
  • Personal Representative's Deed
  • Grant Deed

Questão 18

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

Questão 19

Questão
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.
Responda
  • Beneficiary Deed
  • Warranty Deed
  • Quitclaim Deed
  • Personal Representative's Deed
  • Grant Deed

Questão 20

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

Questão 21

Questão
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.
Responda
  • Beneficiary Deed
  • Warranty Deed
  • Quitclaim Deed
  • Personal Representative's Deed
  • Grant Deed

Questão 22

Questão
Which of the following is not real property?
Responda
  • House
  • Shed
  • Corn field
  • Stove

Questão 23

Questão
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.
Responda
  • True
  • False

Questão 24

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

Questão 25

Questão
Which of the following is not personal property?
Responda
  • Vase
  • Dresser
  • Dog
  • Shed

Questão 26

Questão
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?
Responda
  • Warranty Deed
  • Quitclaim Deed
  • Grant Deed
  • Personal Representative's Deed

Questão 27

Questão
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?
Responda
  • Fee simple
  • Life estate
  • Tenancy in common
  • Community property

Questão 28

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

Questão 29

Questão
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.
Responda
  • Estate plan
  • Persistent Vegetative State (PVS)
  • Health Care Proxy
  • Power of Attorney

Questão 30

Questão
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.
Responda
  • Estate plan
  • Persistent Vegetative State (PVS)
  • Health Care Proxy
  • Power of Attorney

Questão 31

Questão
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.
Responda
  • Estate Plan
  • Persistent Vegetative State (PVS)
  • Health Care Proxy
  • Power of Attorney

Questão 32

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

Questão 33

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

Questão 34

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

Questão 35

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

Questão 36

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

Questão 37

Questão
When does a springing power of attorney become effective?
Responda
  • 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

Questão 38

Questão
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.
Responda
  • True
  • False

Questão 39

Questão
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.
Responda
  • True
  • False

Questão 40

Questão
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?
Responda
  • Power of Attorney
  • Last will and testament
  • Living will
  • Health Care Power of Attorney

Questão 41

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

Questão 42

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

Questão 43

Questão
A durable power of attorney takes effect immediately upon execution.
Responda
  • True
  • False

Questão 44

Questão
Which of the following are the primary purposes for executing a living will?
Responda
  • 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

Questão 45

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

Questão 46

Questão
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.
Responda
  • Health Care Proxy
  • Persistent Vegetative State
  • Living Will
  • Power of Attorney

Questão 47

Questão
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.
Responda
  • Health Care Proxy
  • Persistent Vegetative State
  • Living Will
  • Power of Attorney

Questão 48

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

Questão 49

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

Questão 50

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

Questão 51

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

Questão 52

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

Questão 53

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

Questão 54

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

Questão 55

Questão
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.
Responda
  • Holographic Will
  • Nuncupative Will
  • Pour-over Will
  • Simple Will

Questão 56

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

Questão 57

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

Questão 58

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

Questão 59

Questão
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.
Responda
  • True
  • False

Questão 60

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

Questão 61

Questão
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.
Responda
  • True
  • False

Questão 62

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

Questão 63

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

Questão 64

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

Questão 65

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

Questão 66

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

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