question

Changes to a will take effect once the testator signs the will; no additional witness signatures are needed.

answer

Fasle

question

Much of the law relating to testaments was developed by the church.

answer

True

question

A gift of real property in a will is a called a legacy.

answer

False

question

Agreements to devise or bequeath property to someone in a will must be in writing to be enforceable.

answer

True

question

Most states have age requirements for witnesses to wills.

answer

False

question

Although each state passes its own statutes regarding wills, all states base their statutes on the Uniform Probate Code.

answer

False

question

Most states do not require the testator's signature to be at the end of the instrument.

answer

True

question

In some states, witnesses who are named as beneficiaries lose their inheritance unless two other witnesses who inherit nothing sign the will.

answer

True

question

Technically, the term "will" refers to an instrument that disposes of real property.

answer

True

question

All states require two signatures except:

answer

Louisiana, Pennsylvania, & Vermont

question

Separate, identical wills for two testators are called:

answer

Mutual Wills

question

A gift of personal property in a will is call a:

answer

Legacy

question

Testamentary capacity means:

answer

Sound Mind

question

The act of canceling a will is called:

answer

Revoking

question

A will that is entirely in the handwriting of the testator is called a:

answer

Holographic Will

question

About half of the states recognize holographic wills as being valid.

answer

True

question

In some states, the subsequent marriage of a person revokes his or her will.

answer

True

question

When there is fraud, the court may disallow only part of the will instead of the entire will.

answer

True

question

To "subscribe" means to see the signature or take note mentally that the signature exists as a fact.

answer

False

question

Altering the terms of a will is most effectively done through a(n):

answer

Codicil

question

The law of wills, estates, and trusts of today has its roots in the:

answer

Feudal System

question

The burden of proving a testator's soundness of mind falls on the devisee.

answer

False

question

When a man and woman are married, it is generally a good idea for them to have a joint will.

answer

False

question

Agreements to devise or bequeath property to someone in a will must be:

answer

Signed by the decedent, In writing, & Made w/o duress

question

Grounds for contesting a will are:

answer

Undue Influence

question

A person can have several residences but only one domicile at any particular time.

answer

True

question

Guardian of the property has the responsibility of caring for a child's property until the child becomes an adult, and it is a natural right of parents.

answer

False

question

A letter of instruction provides detailed instructions about how specific pieces of the testator's personal property should be distributed.

answer

False

question

When items of vastly different value are given to different people, the residuary estate is an appropriate source from which to pay death taxes.

answer

False

question

Generic forms from any state can be used to create wills.

answer

False

question

The residuary clause states how the testator would like to distribute his or her share of community property.

answer

False

question

It is advisable to include burial arrangements in a will.

answer

False

question

A will should never be executed in duplicate or triplicate.

answer

True

question

The clause that follows the testator's signature and precedes the witnesses' signatures is called the:

answer

Attestation Clause

question

A will should never be drafted without a:

answer

Resuduary Clause

question

An example of a fiduciary is a(n):

answer

Executor

question

One purpose of the exordium clause is to revoke all prior wills and codicils made by the testator.

answer

True

question

What establishes the court in which the estate will be settled?

answer

The domicile of the testator

question

The opening paragraph of a will is called the:

answer

Exordium Clause

question

Unless a will provides otherwise, real property is usually the last asset to be used for the payment of estate debts.

answer

True

question

The residuary clause is included in what part of the will?

answer

Main Body

question

A gift of money in a will is known as a:

answer

General Legacy, Pecuniary Legacy, & Pecuniary Bequest

question

In states that have adopted the Uniform Probate Code, specific legacy is a gift in a will of an identifiable item of property (other than real estate).

answer

False

question

The testimonium clause comes immediately before the testator's signature.

answer

True

question

An insurance company or individual(s) who stands behind the executor by agreeing to pay the amount of his or her bond in the event the executor becomes liable on the bond is called a:

answer

Surety

question

When a person dies owning real property, when does title pass to the heirs?

answer

At the moment of death

question

A valid will does not require a form other than the placement of the signature in some states.

answer

True

question

Money cannot be left to pets.

answer

True

question

At least three copies of the letter of instruction should be made.

answer

True

question

Detailed information about the testator's funeral arrangements should be included in the testator's:

answer

Letter of instruction

question

If a specific legacy or devise is not in existence at the time of testator's death, the item is said to adeem by extinction.

answer

True

question

A child omitted from a parent's will is called a(n):

answer

Pretermittted Child

question

The period of time covered by the family allowance is usually 18 months.

answer

False (1 year)

question

The typical antilapse statute provides that if a gift is made to a relative who dies before the testator, the gift or its value will be split among the testator's other relatives named in the will.

answer

False

question

Parents may not disinherit children.

answer

Flase

question

In all states, the homestead exemption is automatic.

answer

False

question

When property that is specifically bequeathed or devised in a will is not owned by the testator at death, the legacy or devise is:

answer

Adeemed

question

Which of the following statements is true regarding the homestead exemption?

answer

The homestead allowance is in addition to any share passing to the surviving spouse or minor children. The homestead allowance is exempt from all claims against the estate. & The homestead allowance has priority over all claims against the estate.

question

When a gift of property or money is given by the testator, while alive, to a legatee with the intent that the gift or payment be in lieu of the legacy, it is called:

answer

Satisfaction

question

When spouses sign a prenuptial agreement, they individually agree that the other party's estate plan will be binding.

answer

True

question

In all states, when a surviving spouse elects to take a forced share instead of inheriting under the terms of the will, a fixed percentage is used to determine the amount of the forced share.

answer

False

question

When a surviving spouse elects to renounce the will and instead inherit the amount set forth in his or her state's statues, it is called:

answer

Forced Share

question

The homestead exemption allows the head of a family to keep the family home up to a certain value regardless of the amount of family debt.

answer

True

question

In states that have adopted the Uniform Probate Code, antilapse statutes apply to gifts given to:

answer

Grandparent and lineal descendants of grandparents

question

Exempt property rights are in addition to the homestead exemption.

answer

True

question

When legatees or devisees die before the testator, gifts to them in the testator's will become part of the residuary estate.

answer

True

question

If testators do not want the antilapse statute to go into effect, they simply need to include the words "if he or she shall survive me."

answer

True

question

In some states, the homestead exemption applies to personal property as well as real property.

answer

True

question

The homestead exemption is available only when there is a death in the family.

answer

False

question

States that have adopted the Uniform Probate Code have abolished the rights of dower and curtesy.

answer

True

question

Under English law, the right of a widow to a one-third life estate in all the real property owned by the husband during marriage is called:

answer

Dower

question

State laws are in place to give assistance to family members while the decedent's estate is being settled.

answer

True

question

In states that have adopted the Uniform Probate Code, a surviving spouse is entitled to exempt personal property in the amount of:

answer

$3,500

question

An allowance from the estate granted by the court to the widow or widower and surviving children to provide for their immediate needs after the death of the decedent is called:

answer

Family Allowance

question

When legatees die before the testator, gifts to them in the testator's will are known as:

answer

Lapsed Legacies

Wills, Trusts, & Probate Test 02 – Flashcards

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