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Wills, Trust, Estates > Chapter 5 > Flashcards

Chapter 5 Flashcards

1
Q

Abatement

A

Process of selling estate property to pay debts

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2
Q

Ademption

A

Loss of a testamentary gift because the testator no longer owns the property at his or her death

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3
Q

Advancement

A

Inter vivos gift to children in anticipation of their share of the parent’s estate

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4
Q

Anti-lapse statute

A

State law providing that gifts to deceased heirs go to those person’s heirs

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5
Q

Attestation

A

Clause signed by witnesses to a will.

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6
Q

Beneficiary

A

Recipient of personal property under a will

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7
Q

Bequest

A

Testamentary gift of personal property

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8
Q

Codicil

A

Formal document used to amend a will

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9
Q

Demonstrative legacy

A

Testamentary gift of money from a particular source

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10
Q

Dependent relative revocation

A

Court doctrine holding that if a later will is found invalid, an earlier valid will shall be probated

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11
Q

Devise

A

Testamentary gift of real property

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12
Q

Devisee

A

Recipient of testamentary gift of real property

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13
Q

Durable power of attorney:

A

Power of attorney that takes effect upon execution and lasts despite the incapacity of the principal

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14
Q

Execution of a will

A

Formal signing and witnessing of a will

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15
Q

Exordium

A

Introductory paragraph of a will

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16
Q

Fraud

A

Misrepresentation to induce a person to sign a will

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17
Q

General revocatory clause

A

Will provision revoking earlier wills and codicils

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18
Q

Will provision revoking earlier wills and codicils

A

Document appointing another to make health care decisions for the principal

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19
Q

Holographic Will

A

Will written in the testator’s own hand

20
Q

In terrorem clause

A

Anti-contest clause

21
Q

Incorporation by reference

A

Including terms of an independent document by making specific allusion to in another document

22
Q

Joint will

A

One will used for two persons

23
Q

Legacy

A

Testamentary gift of money

24
Q

Legatee

A

Recipient of money under a will

25
Q

Lapse

A

Provision in a will indicating that if a recipient of a gift under the will predeceases the testator, the gift forms a part of the testator’s residuum.

26
Q

Living Will

A

Instrument indicating a person’s wishes with respect to life termination should he be unable to speak for himself

27
Q

Marital deduction

A

Tax provision permitting property that goes to a surviving spouse to go tax free

28
Q

Menace

A

Threats used to induce a person to sign a will

29
Q

Mortmain Statute

A

Law limiting charitable gifts under a will

30
Q

Mutual will

A

Identical wills executed by two persons

31
Q

Nuncupative will

A

Oral will permitted in limited situations

32
Q

Power of attorney

A

Authorization for one person to act on another’s behalf

33
Q

Pretermission

A

Omitting mention of a child or issue in a will; the omitted child or issue is entitled to an intestate share of the estate

34
Q

QTIP trust

A

Special trust that qualifies for a marital deduction

35
Q

Residuum

A

The residuary estate

36
Q

Self-proving will

A

Will with affidavit of attesting witnesses attached

37
Q

Simultaneous death clause

A

Provision indicating how property is to be distributed if the testator and the heir die in a common disaster

38
Q

Slayer Statute

A

Law prohibiting a murderer from inheriting from his or her victim.

39
Q

Springing power of attorney

A

Power of attorney that takes effect at some point in the future

40
Q

Statutory will

A

Form will appearing in the state statutes

41
Q

Stored Communications Act

A

Federal statute authorizing service providers to release covered information to appointees

42
Q

Testamentary capacity

A

Knowing the nature and extent of one’s property and the natural bounty of one’s affections

43
Q

Testimonium

A

Last clause in a will

44
Q

Undue influence

A

Ability of a person in a close relationship to the testator to use that position to cause the
testator to make a particular testamentary disposition

45
Q

Will contest

A

Legal challenge to the validity of an instrument filed for probate

Wills, Trust, Estates (2 decks)

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