46. The characteristics of a totten trust include that:
a. it is a bank account opened by the settlor of the trust.
b. it is tentative.
c. transfer of ownership is complete only on the depositor‘s death.
d. All of these.
47. A trust created by will at the death of a testator is called a(n):
a. charitable trust.
b. cy pres trust.
c. inter vivos trust.
d. testamentary trust.
48. Almost all jurisdictions require that:
a. express trusts of real property be in writing.
b. trusts have at least four witnesses.
c. an inter vivos trust has at least two trustees.
d. a charitable trust has at least two trustees.
49. In most states, a trustee’s investment decisions are usually governed by:
a. the prudent person rule.
b. judiciary determination.
c. the beneficiary’s intent.
d. The Uniform Principal and Income Act.
50. The administration of the assets of the deceased and the proving of the validity of the will are determined in:
a. probate proceedings.
b. a domicile of intent.
c. an equity proceeding.
d. a testamentary hearing.
51. Which of the following conduct would be likely to invalidate a will?
a. Maria urges her husband to leave all of his property to her.
b. Leah, who was not a blood relative, took care of Austin in his last illness. While he was in a weakened
condition, she urged him to name her sole beneficiary to the exclusion of his children, which he did.
c. Paul does not mention his oldest child in his will.
d. All of these.
52. A statement signed by the required number of witnesses who observe the execution of a valid will is called a(n):
a. validity clause.
b. ambulatory clause.
c. attestation clause.
d. fiduciary clause.
53. The characteristics of a spendthrift trust include which of the following?
a. Spendthrift provisions are not valid in most states.
b. Spendthrift trusts are created to preserve assets against trust creditors.
c. A settlor may provide, in a spendthrift trust, that the beneficiaries cannot, by assignment or otherwise, impair
their rights to receive principal or income.
d. All of these.
54. An amendment to a will is called a(n):
a. stipulated addition.
b. statutory adjustment.
c. codicil.
d. attestation.
55. For soldiers on active duty and sailors at sea:
a. most statutes have specialized, more formal requirements for wills.
b. in most jurisdictions, personal and real property can be passed by soldiers’ and sailors’ wills.
c. most statutes relax the formal requirements for a will and permit a testamentary disposition to be valid
regardless of the informality of the document.
d. specialized wills allow for general gifts only.
56. A trust:
a. is a fiduciary relationship in which one person holds both legal and equitable title to property which is the
subject matter of the trust.
b. may take effect only during the lifetime of the person creating the trust.
c. may be created by such words as “I leave [certain property] to Swigert in full confidence and hope that
Swigert will care for Adamson.“
d. may not be created “to benefit and maintain Southside Park,” since this purpose would be too vague to be
enforceable.
57. A will is generally revoked by all but which of the following?
a. The testator’s murder by a devisee
b. Tearing it in half with the intent to revoke it
c. Executing another will that is inconsistent with the first
d. Inadvertent burning which destroys the document
58. Which of the following is true about a constructive trust?
a. It normally contains detailed instructions for the trustee to follow.
b. The court to redress an injustice imposes it.
c. It is revocable by the trustee.
d. It carries out the intentions of the trustee.
59. A living will is a will that:
a. is videotaped.
b. contains instructions to one’s physician.
c. provides for guardianship of the testator’s children.
d. cannot be revoked.
60. The Uniform Probate Code has been adopted by:
a. fewer than half of the states.
b. all states without variation.
c. the great majority of states without variation.
d. the federal government.
61. Probate is the:
a. reading of a will by a lawyer.
b. actual property given away in a will.
c. process of declaring a person dead.
d. process of managing a decedent’s property.
62. Which of the following statements about wills is correct?
a. A will must be written on one piece of paper.
b. Another writing may be incorporated by reference in a will.
c. The testator must sign his or her full name.
d. The testator cannot have any “help” in signing a will.
63. A valid will must be witnessed. Which of the following statements about witnesses is correct?
a. Most states require only one witness to a will.
b. The witnesses must see the testator write the will.
c. The witnesses must sign the will.
d. Under the Uniform Probate Code, witnesses lose any bequests to them in a will they witness.
64. A trustee has a duty to make proper allocation of income items. Which of the following statements is true concerning
this allocation?
a. Ordinary income is allocated to the remainderman.
b. Ordinary expenses are chargeable to the income beneficiary.
c. Rents and royalties to the remainderman.
d. Extraordinary repairs to the income beneficiary.
65. If a person dies without a will and without any heirs or next of kin, her property:
a. escheats to a vestry commission.
b. vests in her neighbors.
c. vests in her church.
d. escheats to the state.
66. Rules for the distribution of property in a situation involving intestate succession:
a. do not apply to property held in joint tenancy.
b. apply where the testator has failed to name an administrator.
c. prevent property from escheating to the state.
d. have no application to real estate owned by the decedent.
67. Rules for the distribution of property in a situation involving intestate succession:
a. vary widely from state to state.
b. are uniform federal rules.
c. will govern distribution of an intestate’s estate only if such distribution conforms to the clear intention of the
decedent.
d. at common law and today, prevent intestate property from ascending lineally.
68. Dan dies without a valid will in a state that uses the Uniform Probate Code. Which of the following is correct?
a. If there are no children and no surviving parents, Dan‘s widow is entitled to the entire estate.
b. The surviving spouse is entitled to the entire estate regardless of other possible heirs.
c. If Dan has a parent surviving as well as a wife, then Dan’s parent will get one-half of the estate remaining
after payment of $50,000 to the wife.
d. If Dan is survived by his wife and two children from a previous marriage, his wife is entitled to the first
$200,000 plus half of the remaining estate.
69. Which of the following is untrue regarding the revocation of a will?
a. There cannot be a partial revocation.
b. An inadvertent destruction of a will acts as a revocation.
c. The execution of a second will does not of itself constitute a revocation of an earlier will.
d. Divorce does not ordinarily revoke a will.
70. Which of the following would be charged to the life tenant’s interest in the course of administering a trust?
a. Expenses of selling a trust investment
b. The costs of establishing the trust
c. Ordinary repairs
d. Permanent improvements to the trust property
71. Tom, a trustee, fraudulently purchases property with trust funds and puts title in his own name. What type of trust is
created?
a. Constructive trust
b. Implied trust
c. Express trust
d. Resulting trust
72. Diego, a widower, dies intestate, leaving two surviving children and two grandchildren who are children of his
deceased daughter. If Diego’s surviving children each take one-third of his estate and the grandchildren each take
one–sixth of the estate, this is described legally by the statement that:
a. lineal descendants of predeceased children take property per stirpes.
b. lineal descendants take property per capita.
c. collateral heirs take the property per stirpes.
d. lineal descendants and collateral heirs take the property per capita.
73. Extinction of a gift by a testator’s failure to change his will after changed circumstances have made the performance
of a provision in the will impossible is termed:
a. renunciation.
b. ademption.
c. abatement.
d. escheat.
74. A precatory expression:
a. cannot impose a trust because of indefiniteness.
b. may be so definite as to impose a trust.
c. does not depend upon the court’s interpretation of the intent of the settlor.
d. is ineffective because it does not use the required words to create a trust.
75. The duties of a trustee are:
a. to carry out the purposes of the trust.
b. to act with prudence and care in the administration of the trust.
c. to exercise a high degree of loyalty toward the beneficiary.
d. All of these.
76. For a memorandum to be incorporated into a will, which of the following conditions must be met?
a. It must be in writing.
b. It must be in existence when the will is executed.
c. It must be adequately described in the will.
d. All of these.
77. Identify and describe the following types of wills.
a. Holographic
b. Nuncupative
c. Soldiers‘ and sailors‘ wills
78. In what cases do courts impose a constructive trust?
79. In 2008, Bill created a trust that would become effective on his death. In the trust instrument, Bill specified that all of
the income from his stocks and bonds be used for the benefit of St. John‘s Hospital and indicated that his brother
Chad should administer the trust.
a. What kind of trust is this?
b. What is Bill in relationship to the trust?
c. What is the corpus of the trust?
d. What is Chad in relationship to the trust?
80. In 1998, Arthur executed a valid will in which he left his entire estate to the Heart Fund. In 2006, Arthur was
declared incompetent and was committed to an institution. At his death in 2009, his son, Brian, who was his sole
survivor, contested the will claiming that Arthur was obviously incompetent. Will Brian prevail with this argument?
Explain.
81. Clarence is the trustee of a trust. With $75,000 of his own money, Clarence purchases a parcel of real estate. Two
months later, he sells the parcel to the trust for $150,000 and pockets the profit. Discuss the situation in terms of the
duties and powers of the trustee.
82. Charlene drafted a will in 1992 stating as follows: “I hereby leave my 80-acre farm to Arthur, my pure-bred golden
retriever to Brian, and $20,000 each to Dana and Ellen.” In 1997, Charlene sold her farm and in 1998 her dog died.
Charlene died in 2004 without having changed her will and with $15,000 in the bank. If there are no administrative
costs or bills to be paid by the estate, what amount will Arthur, Brian, Dana, and Ellen receive under the will?
83. Name the special types of wills.