Ch 19

Question 0

those who die without a valid will are said to have died intestate

Answer 0

Intestate

Question 1

the person who passes on (dies)

Answer 1

Decedent

Question 2

appoints a personal representative

Answer 2

Probate court

Question 3

to take charge of the intestate’s property

Answer 3

Administrator

Question 4

means decedent dies leaving a valid will

Answer 4

Testate

Question 5

is a legal expression, usually in
writing, by which a person directs how
her/his property is to be distributed after death

Answer 5

Will

Question 6

Maker of will

Answer 6

Testator

Question 7

a term used for a document
directed to attending to a person’s choice about
life-support

Answer 7

Living will

Question 8

alternative to having a living will which confers on
a court-appointed individual the right to
make health care decisions regarding life-support

Answer 8

Durable Power of Attorney

Question 9

means the maker must know the event of the
property involved, the person who stands
to benefit, and that they are making
arrangements to dispose of their property
after death.

Answer 9

Testamentary Capacity

Question 10

formal, written & witnessed amendment executed using the same formalities as the original creation of the will

Answer 10

Codicil

Question 11

wills that are valid even without witnesses, has been written entirely by the decedents own
hand, and signed by him/her

Answer 11

Holographic Will

Question 12

oral will, recognized in some states if proclaimed during the maker’s last illness or by service
personnel on active duty

Answer 12

Nuncupative Will

Question 13

person can be declared dead after several years (5-7) if a person simply vanishes without a trace

Answer 13

Enoch Arden Laws

Question 14

states one-third of the decedent’s property

Answer 14

Right of Election

Question 15

splitting the property equally among all living descendants

Answer 15

Per Capita Distribution

Question 16

testator may specify that the lineal descendants split equally what a deceased parent would have received, but receive nothing if the parent still lives

Answer 16

Per Stirpes

Question 17

an immediate transfer of control of some or all of one’s property to another party with instructions on how it is to be managed for the benefit of the transferor (third party)

Answer 17

Trust

Question 18

the legal entity that has the title

to the property named in the trust has the duty requiring the highest care and loyalty to the beneficiary

Answer 18

Trustee

Question 19

The creator of the trust

Answer 19

Settlor

Question 20

the party for whose benefit the trust is managed in accordance with the settlor’s wishes

Answer 20

Beneficiary

Question 21

requiring the highest care and loyalty

Answer 21

Fiduciary Duty

Question 22

trust created during the lifetime of the settlor

Answer 22

Inter Vivo Trust

Question 23

created for the fulfillment of a concern for others

Answer 23

Charitable Will

Question 24

Created for a private purpose

Answer 24

Private Trust

Question 25

created to protect the beneficiary’s interest in a property from the beneficiary’s creditors

Answer 25

Spendthrift Trust

Question 26

all trusts mentioned usually are created by a written or oral statement in which the terms are clearly stated by the settlor

Answer 26

Express Trusts

Question 27

implied trust formed when the entity intended to | receive the benefit of an express trust cannot do so

Answer 27

Resulting trust

Question 28

created to require a person holding property to transfer it to another because retention would be a wrongful & unjust enrichment of the holder

Answer 28

Constructive Trust

Question 29

the person who passes on (dies)

Answer 29

Decedent

Question 30

those who die without a valid will are said to have died intestate

Answer 30

Intestate

Question 31

appoints a personal representative

Answer 31

Probate court

Question 32

to take charge of the intestate’s property

Answer 32

Administrator

Question 33

means decedent dies leaving a valid will

Answer 33

Testate

Question 34

is a legal expression, usually in writing, by which a person directs how her/his property is to be distributed after death

Answer 34

Will

Question 35

Maker of will

Answer 35

Testator

Question 36

a term used for a document directed to attending to a person’s choice about life-support

Answer 36

Living will

Question 37

alternative to having a living will which confers on a court-appointed individual the right to make health care decisions regarding life-support

Answer 37

Durable Power of Attorney

Question 38

means the maker must know the event of the property involved, the person who stands to benefit, and that they are making arrangements to dispose of their property after death.

Answer 38

Testamentary Capacity

Question 39

formal, written & witnessed amendment executed using the same formalities as the original creation of the will

Answer 39

Codicil

Question 40

wills that are valid even without witnesses, has been written entirely by the decedents own hand, and signed by him/her

Answer 40

Holographic Will

Question 41

oral will, recognized in some states if proclaimed during the maker’s last illness or by service personnel on active duty

Answer 41

Nuncupative Will

Question 42

person can be declared dead after several years (5-7) if a person simply vanishes without a trace

Answer 42

Enoch Arden Laws

Question 43

states one-third of the decedent's property

Answer 43

Right of Election

Question 44

splitting the property equally among all living descendants

Answer 44

Per Capita Distribution

Question 45

testator may specify that the lineal descendants split equally what a deceased parent would have received, but receive nothing if the parent still lives

Answer 45

Per Stirpes

Question 46

an immediate transfer of control of some or all of one’s property to another party with instructions on how it is to be managed for the benefit of the transferor (third party)

Answer 46

Trust

Question 47

the legal entity that has the title | to the property named in the trust has the duty requiring the highest care and loyalty to the beneficiary

Answer 47

Trustee

Question 48

The creator of the trust

Answer 48

Settlor

Question 49

the party for whose benefit the trust is managed in accordance with the settlor’s wishes

Answer 49

Beneficiary

Question 50

requiring the highest care and loyalty

Answer 50

Fiduciary Duty

Question 51

trust created during the lifetime of the settlor

Answer 51

Inter Vivo Trust

Question 52

created for the fulfillment of a concern for others

Answer 52

Charitable Will

Question 53

Created for a private purpose

Answer 53

Private Trust

Question 54

created to protect the beneficiary’s interest in a property from the beneficiary’s creditors

Answer 54

Spendthrift Trust

Question 55

all trusts mentioned usually are created by a written or oral statement in which the terms are clearly stated by the settlor

Answer 55

Express Trusts

Question 56

implied trust formed when the entity intended to | receive the benefit of an express trust cannot do so

Answer 56

Resulting trust

Question 57

created to require a person holding property to transfer it to another because retention would be a wrongful & unjust enrichment of the holder

Answer 57

Constructive Trust