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| 1 | |
For a charitable trust to be valid, the identity of the person to be benefited must be _____. |
| | A) | certain |
| | B) | uncertain |
| | C) | reasonable |
| | D) | named |
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| 2 | |
The rule against perpetuities requires the property to be owned by the beneficiary outright not later than _____ years after the death of some person alive at the creation of the trust. |
| | A) | 18 |
| | B) | 21 |
| | C) | 50 |
| | D) | 100 |
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| 3 | |
Probate occurs _____. |
| | A) | by agreement of all the heirs |
| | B) | by action of law when a death certificate is issued |
| | C) | under court supervision |
| | D) | under the supervision of private properties |
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| 4 | |
The Uniform Simultaneous Death Act states that, when a husband and wife die simultaneously, property owned jointly by both of the deceased is distributed _____. |
| | A) | equally |
| | B) | to the heirs of the oldest individual |
| | C) | to the heirs of the husband |
| | D) | to the heirs of the wife |
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| 5 | |
Escheat occurs only when _____. |
| | A) | there is no will |
| | B) | there is no surviving spouse, issue, or kindred |
| | C) | there is no will and no friends |
| | D) | there is property in excess of $50,000 and no will, surviving spouse, issue, or kindred |
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| 6 | |
Tom, a resident of Alabama, dies without a will while owning land in Colorado. His heirs live in Nevada. The land passes according to the laws of _____. |
| | A) | Alabama |
| | B) | Colorado |
| | C) | Nevada |
| | D) | Alabama, Colorado, and Nevada |
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| 7 | |
Undue influence causes the individual to be _____. |
| | A) | under duress |
| | B) | incompetent |
| | C) | afraid for their life |
| | D) | unable to express their real intentions |
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| 8 | |
John is adopted. Jill is a natural child. Afred is a stepchild. Which will inherit from the adults who care for them? |
| | A) | John and Jill only |
| | B) | John, Jill and Alfred |
| | C) | Jill only |
| | D) | Jill, with John receiving only half as much as Jill. |
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| 9 | |
Tony cannot read or write. Which of the following statements is true? |
| | A) | Tony cannot make a written will |
| | B) | Tony cannot make a holographic will |
| | C) | Tony cannot make a nuncupative will |
| | D) | Tony cannot make any will |
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| 10 | |
A testatrix is a _____. |
| | A) | minor |
| | B) | trusted person |
| | C) | woman who makes a will |
| | D) | person who inherits under interstate succession |
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