A) Trust corpus
B) Assets
C) Holdings
D) Effects
E) Income property
G) B) and E)
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A) Trustless
B) Reviewed
C) Involuntary
D) Untrue
E) Judicial
G) A) and D)
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A) Mutual
B) Verbal
C) Oral
D) Nonwritten
E) Holographic
G) C) and D)
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A) Attest
B) Approve
C) Acknowledge
D) View
E) Review
G) C) and D)
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A) The family waqf resembles a trust,although the beneficiary of a family waqf must have a religious,pious,or charitable purpose.
B) Waqfs and trusts have some similarities.
C) Some legal scholars have suggested that the religious roots of the waqf have made this construct less flexible and responsive to change over time than the trust,with its secular roots.
D) Civil law governs the trust system in India.
E) There are legal constructs,similar to trusts,allowing families to pass wealth from generation to generation.
G) A) and B)
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A) Personal devisee
B) Personal representative
C) Trustee
D) Inheritance regulator
E) Inheritance devisor
G) C) and D)
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B) False
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A) Health care proxy
B) Right to die
C) Durable power of attorney
D) Power of attorney
E) Advance directives
G) B) and E)
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A) An adult child may not be a witness to a will.
B) A spouse may not be a witness to a will.
C) A spouse may be a witness to a will,but no other relative may be a witness to a will.
D) A beneficiary may not be a witness to a will.
E) An adult child may be a witness to a will,but no other relative may be a witness to a will.
G) None of the above
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B) False
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B) False
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False
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B) False
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A) That because the mother was alive and the twins were conceived and born after the father's death,they did not survive him as heirs legally and were not entitled to any succession rights;otherwise,had the mother been deceased,the twins would have been entitled to succession rights in regard to the father as well as the mother.
B) That because the twins were conceived within 30 days of the decedent's death,they were considered legal heirs and entitled to succession rights.
C) That because the twins were conceived and born after the father's death,they did not survive him as heirs legally and were not entitled to any succession rights.
D) That because the mother had permission from the father to use the sperm after his death,the twins were considered legal heirs and were entitled to succession rights.
E) That regardless of whether or not the mother had permission from the father to use the sperm after his death,the twins were considered legal heirs and were entitled to succession rights.
G) D) and E)
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A) Life planning
B) Probate succession
C) Estate planning
D) Allocation planning
E) Asset allocation
G) A) and E)
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C
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A) A court can place assets of a partnership in a constructive trust if it discovers that one partner is engaging in fraudulent or unconscionable conduct that might negatively affect the interests of another partner.
B) Trusts may be set up to make "awards" to family members who make significant contributions in certain fields,such as education,science,law,or medicine.
C) A trust document may state that the trust will terminate when an event happens,such as when the remainderman reaches a certain age.
D) Settlors may create trusts to prevent individuals from getting access to certain assets.
E) A settlor may revoke a trust at any time.
G) A) and B)
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E
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A) The change to the will is not objectionable so long as Madison can prove by a preponderance of the evidence that Troy was indeed having an affair with Lucy.
B) Regardless of whether or not the change was made by a lawyer,it was ineffective because in order to revise a will,the initial will must be revoked and a completely new will written.
C) The revision to the will was ineffective,not because it was done by Kara,but because it improperly expressed personal opinion of an individual which by law must be absent from a will.
D) Assuming other requirements are met,the change to the will is not objectionable on the basis that it was done by Kara or on the basis that it expressed a personal opinion regarding Troy.
E) The revision to the will was ineffective because it was not done by a lawyer.
G) C) and D)
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Trusts usually have two compon...View Answer
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A) Undue influence
B) Fraud
C) Misinformation
D) Recklessness
E) Negligence
G) A) and C)
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B) False
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A) It strives to promote unity in private law
B) It is an independent intergovernmental organization
C) It prepares uniform laws
D) It strives to promote harmony in private law
E) It will not accept wills in conformance with the Convention Providing for a Uniform Law on the Form of an International will.
G) D) and E)
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