CLU - CFP Topics 53 - 73 Estate Planning: Requirement of State Statutes

Question 1

Statutes can be negated by will provisions in some situations:

Answer 1

• abatement
• ademption
• anti-lapse
• divorce or annulment
• simultaneous death
• tax apportionment

Question 2

Testator will requirements

Answer 2

• minimum age

- testamentary capacity

Question 3

Will is a ___ document

Answer 3

process

Question 4

Types of wills

Answer 4

• witnessed
• holographic
• nuncupative (death bed)

AND

• simple
• reciprocal
• mutual

Question 5

Execution of wills

Answer 5

• testator/testatrix
• witnesses
• notary public

Question 6

Clauses required by wills

Answer 6

• introductory
• family statement
• disposition
• death tax
• residual
• appointments
• signature
• attestation
• self proving