Ch. 31 (Estate Planning) QUIZ

Legal requirements for a will depend on state law, but generally include all but which of the following? A writing. Signatures of at least three witnesses. The testator's signature. Witnesses who will not inherit under the will.

Signatures of at least three witnesses.

A power of attorney may expire under all the following conditions EXCEPT: the attorney in fact losing the license to practice law being revoked by the principal the incapacity of the principal the death of the principal

the attorney in fact losing the license to practice law

Which of the following is not required to create a valid trust: mental capacity of the grantor. witnesses. a beneficiary(ies). property transferred to the trust.

witnesses.

Through which of the following procedures can a person inherit? Will Trust Intestacy All of the above.

All of the above.

Which of the following does not act as a revocation of a will? Destruction of the will by a house fire. The testator's putting an X through it. Physically destroying the will by intentionally shredding it. Signing a new will that expressly revokes prior wills.

Destruction of the will by a house fire.

A pretermitted child is: the child named as the executor of the will the oldest child the youngest child a child not named in the will

a child not named in the will

When a testator wants to change or amend a limited portion of a will, he may use: the process of probate a codicil power of attorney nuncupative will

a codicil

When a married person dies intestate, the surviving spouse is entitled to: nothing. the entire estate. a forced share of the estate, which is calculated differently in different states. the same portion as each of the couple's children.

a forced share of the estate, which is calculated differently in different states.

A trust created in a will is: an inter vivos trust. a constructive trust. a testamentary trust. a probate trust.

a testamentary trust.

A trust that goes into effect during the grantor's lifetime is called: a testamentary trust an anos durente trust an irrevocable trust an inter vivos trust

an inter vivos trust