Estate Planning and Administration

Question 1

Method by which the Commonwealth takes the property of an intestate decedent

Answer 1

Escheat

Question 2

Person who makes a will

Answer 2

Testator/Testatrix

Question 3

When a person dies without a valid will

Answer 3

Intestacy

Question 4

Personal representative appointed by the court to administer an intestate estate

Answer 4

Administrator/Administratrix

Question 5

Oral will; not permitted in Pennsylvania

Answer 5

Nuncupative will

Question 6

Person who receives the benefits of trust property

Answer 6

Beneficiary

Question 7

Method by which a testator invalidates a will

Answer 7

Revocation

Question 8

Personal representative named in a decedent’s will

Answer 8

Executor/Executrix

Question 9

State statutes that stipulate how a decedent’s property should be distributed when the decedent died without a valid will

Answer 9

Intestate succession statutes

Question 10

Pennsylvania state death transfer tax

Answer 10

Inheritance tax

Question 11

Document that divides ownership interest in property into legal title and equitable title

Answer 11

Trust

Question 12

Person who is the legal representative of a decedent’s estate

Answer 12

Personal representative

Question 13

Document in which a person declares how he wants his property distributed upon his death

Answer 13

Will

Question 14

Trust created during the settlor’s lifetime

Answer 14

Inter vivos trust

Question 15

Person who holds legal title to trust property and who owes a fiduciary duty to the beneficiary

Answer 15

Trustee

Question 16

Will written entirely in the hand of the testator; permitted in Pennsylvania

Answer 16

Holographic will

Question 17

Trust created in a will

Answer 17

Testamentary trust

Question 18

Federal death transfer tax

Answer 18

Estate tax

Question 19

Person who creates a trust

Answer 19

Settlor