Question 1

A beneficiary of personal property by will may be called a devisee.

Accepted Answer

A beneficiary of personal property by will is typically called a legatee, while a devisee is someone who inherits real property through a will.

Question 2

If a trust is created to take effect within the lifetime of the settlor,it is a testamentary trust.

Accepted Answer

A testamentary trust is created through a will and takes effect after the settlor's death. A trust created during the settlor's lifetime is called an inter vivos or living trust.

Question 3

A will may only be revoked by operation of law;it may not be revoked by act of the testator.

Accepted Answer

A will can be revoked by act of the testator, such as by executing a new will, by burning, tearing or otherwise destroying it with the intention of revoking it, or by some other act or circumstance showing an intention to revoke the will.

Question 4

Generally,the right to make a will is limited to persons 18 or older.

Accepted Answer

The legal age of majority in most jurisdictions is 18, and thus, the right to make a will is limited to persons 18 or older.

Question 5

A will,to be effective,always must be dated.

Accepted Answer

The answer of A will,to be effective,always must be dated....

Question 6

A written will must be signed by the testator at the bottom or end of the will.

Accepted Answer

According to legal requirements, a written will must be signed by the testator at the bottom or end of the will along with two witnesses who also sign the will.

Question 7

The judge,not the decedent,has the privilege of naming who is to administer the estate of a person who has died with a will.

Accepted Answer

In the case of a person who has died with a will, the executor named in the will is typically responsible for administering the estate, not the judge.

Question 8

The debts of a decedent are paid prior to distribution of any balance of the estate to those entitled to receive it.

Accepted Answer

This is based on the legal principle of "paying the debts before distribution of assets" which means that any debts of the decedent must be paid off before any remaining assets are distributed to beneficiaries or heirs.

Question 9

One desiring to leave the balance of an estate to a specified person or group after specific bequests are satisfied may do so by making a residuary bequest in a will.

Accepted Answer

A residuary bequest in a will allows the testator to distribute the remaining estate to a specified person or group after satisfying specific bequests.

Question 10

When specifically bequeathed property is sold or given away by the testator prior to death,the bequest is considered "redeemed."

Accepted Answer

When specifically bequeathed property is sold or given away by the testator prior to death, the bequest is considered adeemed, meaning the specific gift fails because it is no longer part of the estate at the testator's death.

Question 11

Testate distribution describes the distribution that is made when the decedent leaves an invalid will.

Accepted Answer

Testate distribution describes the distribution that is made when the decedent leaves a valid will. When a decedent leaves an invalid will, their estate is distributed according to intestate laws.

Question 12

Testamentary intent makes the provisions of the testator effective and binding during the testator's life.

Accepted Answer

Testamentary intent refers to the intention of a testator to create a valid will and distribute their property according to their wishes after their death. The provisions of the testator therefore become effective and binding only after the testator's death.

Question 13

Statutes often require that the attestation of witnesses be made in the presence of the testator and in the presence of each other.

Accepted Answer

This is a common requirement in many jurisdictions to ensure the validity and authenticity of the will or other legal document.

Question 14

A holographic will is an unwitnessed will that is written by the testator entirely by hand.

Accepted Answer

A holographic will is indeed an unwritten will that must be entirely handwritten by the testator (the person making the will) and typically does not require witnesses to be legally valid, although the specific legal requirements can vary by jurisdiction.

Question 15

A will is very informal and may be created in any reasonable manner.

Accepted Answer

A will must meet certain legal requirements to be considered valid, including being in writing, signed by the testator (the person making the will), and witnessed by two or more individuals who do not have a vested interest in the will. Simply writing down wishes on a piece of paper without following these legal requirements may not hold up in court.

Question 16

A will cannot be modified by merely crossing out a clause and writing in something new.

Accepted Answer

A will can only be modified by executing a new will or a codicil (an amendment to the existing will) that meets certain legal requirements. Simply crossing out and writing in changes may not be considered a valid modification.

Question 17

A living will,now legal in most states,provides that if the testator becomes unable to express his or her wishes and is in an irreversible,incurable medical condition,he or she does not want life-sustaining medical treatments.

Accepted Answer

This statement accurately describes the purpose and content of a living will.

Question 18

To make a valid will,the testator must have testamentary capacity.

Accepted Answer

Testamentary capacity refers to the mental and legal ability of a person to make or alter a valid will. Therefore, in order to make a valid will, the testator must have testamentary capacity.

Question 19

Under the Uniform Simultaneous Death Act,if survivorship cannot be established,the property of each person is disposed of as though each had survived the other.

Accepted Answer

This statement accurately reflects the provisions of the Uniform Simultaneous Death Act. If there is no way to determine which person died first, the law assumes that each person survived the other for the purposes of property distribution.

Question 20

Antilapse statutes commonly provide that the gift to the deceased beneficiary shall not lapse but that the children or heirs of that beneficiary may take the legacy in the place of the deceased beneficiary.

Accepted Answer

Antilapse statutes aim to prevent a gift from failing due to the death of a beneficiary by allowing the gift to pass to the beneficiary's children or heirs in their place. Therefore, the statement is true.

Quiz 52: Decedents Estates and Trusts