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1
A bequest is a gift of real property.
A)True
B)False
2
In order to make a will, a person must be of sound mind and of legal age.
A)True
B)False
3
The probate process administrates the decedent's property, uses it to satisfy claims of creditors, and distributes remaining property to the beneficiaries.
A)True
B)False
4
A will that is written and signed in the testator's own handwriting is called a living will.
A)True
B)False
5
A testator may revoke his will anytime prior to his death.
A)True
B)False
6
Trusts are often used to minimize tax obligations at the time of death and to avoid the probate process.
A)True
B)False
7
Joint wills:
A)must be in writing.
B)are usually executed by a married couple.
C)are irrevocable after they are executed.
D)Both A and B
E)All of the above
8
All of the following are true statements concerning trusts except:
A)The trust res of a spendthrift trust normally cannot be attached by creditors of the beneficiary.
B)A trustee may incur personal liability to a beneficiary or settlor of the trust if he negligently spends or invests the trust res.
C)They may be used to provide financial support for a disabled child of a settlor after the settlor's death.
D)They may be used to completely avoid estate or "death" taxes of the settlor.
9
All of the following are true statements concerning wills except:
A)When disagreements occur over the interpretation of a particular provision in a will, courts will strive to find the intent of the testator.
B)Normally, a spouse may not completely disinherit the other spouse.
C)Wills may not be amended without creating and executing a new will.
D)Children born after a will was created and not mentioned in it may still have rights to the testator's property under the will.
10
A document that allows another individual to act in the event a person becomes mentally or physically incapacitated is:
A)a durable power of attorney.
B)a constructive trust.
C)an intestacy.
D)a living trust.





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