Which of the following is an INCORRECT statement regarding probate? A. Dissoluti
ID: 433836 • Letter: W
Question
Which of the following is an INCORRECT statement regarding probate?
A. Dissolution and winding up is the process of a? deceased's property being? collected, debts and taxes being? paid, and the remainder of the estate being distributed.
B. The process and procedures for settling an estate are governed by state statute.
C. Probate is also known as settlement of the estate.
D. A specialized court, called the probate? court, usually supervises the administration and settlement of estates.
E. A personal representative must be appointed to administer an estate during its settlement phase.
-------------------------------------------------------------------------------
Which of the following is an INCORRECT statement regarding? probate?
A. The personal representative of a? decedent's estate is usually a relative of the deceased or a bank.
B. If a testator's will does not designate a personal? representative, the court appoints an administrator? (male) or administratrix? (female).
C. If a testator's will designates a female personal? representative, that person is called an executrix.
D. A probate court is a specialized federal court that supervises the administration and settlement of estates.
E. An attorney is usually appointed to help administer the estate and to complete the probate.
-------------------------------------------------------------------------------
Which of the following is an INCORRECT statement regarding intestate? succession?
A. In-laws do not inherit under most intestacy statutes.
B. If a person's will or trust fails for some legal? reason, the property is distributed to his or her relatives pursuant to a? state's intestacy statute.
C. If a person dies without a will or? trust, he or she dies testate.
D. If the deceased has no surviving? relatives, then the? deceased's property escheats to the state.
E. Relatives who receive property under intestacy statutes are called heirs
-------------------------------------------------------------------------------
Which of the following is an INCORRECT statement regarding an irrevocable? trust?
A.
An express trust is voluntarily created by the settlor.
B.
A trust can be created and becomes effective during a? trustor's lifetime, or it can be created to become effective on the? trustor's death.
C.
A will is a legal arrangement under which the trustor delivers and transfers legal right to property to the trustee to be held and used for the benefit of the beneficiary.
D.
Another term for trust corpus is trust res.
E.
The property and assets held in trust are called the trust corpus.
---------------------------------------------------
Henry is the trustee of a trust for the benefit of his? brother, Gregory, who has a gambling addiction. Their parents set up the trust so that? Gregory's creditors can only go after the trust income that is distributed to? Gregory, and not the principal. This is known as? a(n) ________ trust.? ________________.
A.
spendthrift
B.
Totten
C.
resulting
D.
inter vivos
E.
constructive
-------------------------------------------
Which of the following statements about a living trust is true?
A. It can be challenged for undue influence.
B. It reduces the grantor's income taxes.
C. It is usually less expensive to set up than a will.
D. It reduces estate taxes more than a will.
E. It is subject to property division on divorce.
----------------------------------------------------
A will or trust may be found to be _______________ if it was made because of undue influence on the testator. Undue influence is difficult to_______________, but it may be___________________________.
A. valid; prove by direct evidence; proved by circumstantial evidence
B. valid; prove by clear evidence; proved by cogent evidence
C. invalid; prove by direct evidence; proved by circumstantial evidence
D. invalid; prove by circumstantial evidence; proved by direct evidence
E. valid; show in a court of law; shown in a court of equity
------------------------------------------------
In 1990, in Cruzan v.Director, Missouri Department of Health, the U.S. Supreme Court ruled that the right to ________________ is a personal liberty protected by the?__________________ of the U.S. Constitution. The Court stated that this interest must be expressed? _______________ that the patient did not want to be sustained by artificial means.
A. refuse to make a will; Due Process Clause; beyond a reasonable doubt
B. an attorney; police power clause; through clear and convincing proof
C. refuse medical treatment; supremacy clause; by a preponderance of the evidence
D. disinherit your children; Due Process Clause; through clear and convincing proof
E. refuse medical? treatment; Due Process Clause; through clear and convincing proof
>>>>Can you state a reason why you wrote the answer? I need to get this 100%!
Explanation / Answer
Question first
A)
Option (A) is incorrect
Dissolution and winding up is a process related to companies and organizations not of a deceased’s estate.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.