Ch 11 Wills, Trusts and Estates

Ch 11 Wills, Trusts and Estates

Assessment

Flashcard

Business

11th Grade - University

Hard

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20 questions

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1.

FLASHCARD QUESTION

Front

A living trust is also called a(n):

Back

inter vivos trust

2.

FLASHCARD QUESTION

Front

An attestation clause always begins a will.

Back

False

3.

FLASHCARD QUESTION

Front

A trustee appointed by the court is a: legator, trust officer, trustee ad litem, testator

Back

trustee ad litem

4.

FLASHCARD QUESTION

Front

The attestation clause is:

Back

usually at the end of a will, it provides evidence that execution of a will was observed by witnesses

5.

FLASHCARD QUESTION

Front

A nuncupative will could be a will declared orally by a Roman Catholic nun during her last rites of the church in the presence of priests as long as her wishes are later reduced to writing by those present.

Back

True

6.

FLASHCARD QUESTION

Front

All that a person owns at death is considered:

Back

decedent’s estate

7.

FLASHCARD QUESTION

Front

The judicial act where a will is adjudicated to be valid

Back

probate

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