Ch11 last will and testament

Question 1

To have the mental capacity to form a will, a person must:

Answer 1

-Know the nature and extent of real and personal property
-Know the “natural of objects of bounty” (the closest surviving blood relative in the family
-Know the intended disposition of the property
-Have the ability to connect all of these elements together to form a plan

Question 2

Wills must be ___ and ___

Answer 2

Wills must be witnessed and signed in the presence of one or more witnesses

Question 3

Oral will declared or dictated by testator during illness before appropriate witnesses to dispose of personal property and afterwards reduced to writing

Answer 3

Nuncupative will

Question 4

A will entirely handwritten, dated, and signed by the testator, but not signed by required witnesses

Answer 4

Holographic will

Question 5

What are the three ways to revoke a will?

Answer 5

1. As an act by the testator
2. As an operation of the law
3. As an amendment or addition to a will

Question 6

An amendment or addition to a will

Answer 6

Codicil

Question 7

The gift of real or personal property

Answer 7

Devise

Question 8

There is no will and a person in the blood line (or spouse) takes intestee

Answer 8

Heir

Question 9

A proportional reduction of a devise when estate assets are not sufficient to pay it in full

Answer 9

Abatement

Question 10

The extinction or withdrawal of a devise because the decedent did not own the named property at the time of death

Answer 10

Ademption

Question 11

Generally provide for a spouse to receive assets even when they have been specifically disinherited in a will or were left minimal assets

Answer 11

Spousal right to election

Question 12

The state of dying without having made a will

Answer 12

Intestate

Question 13

The method used to distribute property owned by a person who dies without a valid will

Answer 13

Intestate succession

Question 14

Divides the estate by giving equal share to each heir holding an equal degree of kindred
-1/3, 1/3, 1/3

Answer 14

Per capita

Question 15

Divides a estate by giving proportional shares according to a deceased ancestors share
-Grandfather, son, and grandson. The son dies and then the grandfather dies, instead of the estate being divided evenly between the grandfather’s other two sons, the 1/3 share goes to the grandson

Answer 15

Per stirpes

Question 16

Law that grants a legal right to transfer estate assets and property to a state government if a person has died and there are no known legal heirs

Answer 16

Escheat