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Personal Law B > Ch 19 > Flashcards

Ch 19 Flashcards

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0
Q

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

A

Intestate

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1
Q

the person who passes on (dies)

A

Decedent

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2
Q

appoints a personal representative

A

Probate court

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3
Q

to take charge of the intestate’s property

A

Administrator

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4
Q

means decedent dies leaving a valid will

A

Testate

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5
Q

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

A

Will

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6
Q

Maker of will

A

Testator

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7
Q

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

A

Living will

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8
Q

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

A

Durable Power of Attorney

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9
Q

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.

A

Testamentary Capacity

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10
Q

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

A

Codicil

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11
Q

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

A

Holographic Will

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12
Q

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

A

Nuncupative Will

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13
Q

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

A

Enoch Arden Laws

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14
Q

states one-third of the decedent’s property

A

Right of Election

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15
Q

splitting the property equally among all living descendants

A

Per Capita Distribution

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16
Q

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

A

Per Stirpes

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17
Q

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)

A

Trust

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18
Q

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

A

Trustee

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19
Q

The creator of the trust

A

Settlor

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20
Q

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

A

Beneficiary

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21
Q

requiring the highest care and loyalty

A

Fiduciary Duty

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22
Q

trust created during the lifetime of the settlor

A

Inter Vivo Trust

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23
Q

created for the fulfillment of a concern for others

A

Charitable Will

24
Q

Created for a private purpose

A

Private Trust

25
Q

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

A

Spendthrift Trust

26
Q

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

A

Express Trusts

27
Q

implied trust formed when the entity intended to

receive the benefit of an express trust cannot do so

A

Resulting trust

28
Q

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

A

Constructive Trust

29
Q

the person who passes on (dies)

A

Decedent

30
Q

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

A

Intestate

31
Q

appoints a personal representative

A

Probate court

32
Q

to take charge of the intestate’s property

A

Administrator

33
Q

means decedent dies leaving a valid will

A

Testate

34
Q

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

A

Will

35
Q

Maker of will

A

Testator

36
Q

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

A

Living will

37
Q

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

A

Durable Power of Attorney

38
Q

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.

A

Testamentary Capacity

39
Q

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

A

Codicil

40
Q

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

A

Holographic Will

41
Q

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

A

Nuncupative Will

42
Q

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

A

Enoch Arden Laws

43
Q

states one-third of the decedent’s property

A

Right of Election

44
Q

splitting the property equally among all living descendants

A

Per Capita Distribution

45
Q

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

A

Per Stirpes

46
Q

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)

A

Trust

47
Q

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

A

Trustee

48
Q

The creator of the trust

A

Settlor

49
Q

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

A

Beneficiary

50
Q

requiring the highest care and loyalty

A

Fiduciary Duty

51
Q

trust created during the lifetime of the settlor

A

Inter Vivo Trust

52
Q

created for the fulfillment of a concern for others

A

Charitable Will

53
Q

Created for a private purpose

A

Private Trust

54
Q

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

A

Spendthrift Trust

55
Q

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

A

Express Trusts

56
Q

implied trust formed when the entity intended to

receive the benefit of an express trust cannot do so

A

Resulting trust

57
Q

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

A

Constructive Trust

Personal Law B (5 decks)

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