estate planning, Wills, Property

Question 1

Property Law

Answer 1

Goods and Money; in general property is either real or personal

Question 2

Real Property

Answer 2

Land, including anything affixed to the land or growing upon the land

Question 3

Testator

Answer 3

A person who has made a will

Question 4

holographic will

Answer 4

A will written entirely by the testator which is not witnessed and not all states take these wills

Question 5

Nuncupative will

Answer 5

An oral will; not all states recognize nuncupative wills

Question 6

beneficiary

Answer 6

a person named in a will who will benefit from a transfer of specific property

Question 7

bequest

Answer 7

a gift by will of specific personal property

Question 8

devise

Answer 8

a gift by will of a specific real property

Question 9

general legacy

Answer 9

a gift of a specific amount of money

Question 10

codicil

Answer 10

an addition or change to a will

Question 11

fiduciary

Answer 11

a person whose duties involve trust and good faith

Question 12

executor

Answer 12

a person chosen by a testator to carry out the directions in the will

Question 13

guardian

Answer 13

a person who has the duty of taking care of a person and their property

Question 14

trustee

Answer 14

a person who holds property in trust

Question 15

decedent

Answer 15

a person who has died

Question 16

attestation clause

Answer 16

a clause at the end of a will wherein all witnesses declare that the document was executed before them

Question 17

testimonium clause

Answer 17

A clause that includes the date on which the document was executed and who signed the document