Quiz 2 Vocab

Question 1

Issue

Answer 1

a person’s lineal descendants.

Question 2

Testate

Answer 2

Dying with a validly executed will

Question 3

Intestate

Answer 3

Dying without a Will

Question 4

Bequest

Answer 4

gift of personal property passing under a Will

Question 5

Specific Bequest

Answer 5

a gift of a specific item of personal property in a will.

Question 6

Legacy (general legacy)

Answer 6

a gift of personal property passing under a Will but it usually refers to money.

Question 7

Demonstrative Legacy

Answer 7

A gift of a specified sum of money that comes from a specific source.

Question 8

Legatee

Answer 8

A person who receives a gift of cash under a Will.

Question 9

Devise

Answer 9

gift of real property

Question 10

Specific Devise

Answer 10

a gift of specific real property made by Will

Question 11

Devisee

Answer 11

A person who received a gift of property under a Will.

Question 12

Residuary Dispositions (residue)

Answer 12

all of the property remaining after the testator has given all of his/her specifically named bequests and devises.

Question 13

Abatement

Answer 13

in estate planning this term refers to a reduction in the sum of gift to a beneficiary when sums are insufficient to pay the debts and taxes.

Question 14

Ademption

Answer 14

What occurs when a specific bequest is disposed of prior to the decedent’s death. It’s not in the estate; the devisee or legatee does not get it.

Question 15

Satisfaction

Answer 15

When testator gives the property to the beneficiary before they die.

Question 16

Anti-lapse statute

Answer 16

prevents the gift from lapsing by substituting the beneficiary’s issue for the beneficiary.

Question 17

Per Stirpes

Answer 17

the beneficiaries receive their share based upon the level of lineal descendants they are from their ancestor the decedent.

Question 18

Per Capita

Answer 18

The surviving beneficiaries each receive an equal share.

Question 19

heir

Answer 19

This term describes a person who is entitled to receive the real property of one who dies intestate.

Question 20

Next-of-kin (distributee)

Answer 20

This is the person who inherits the personal property of the decedent who dies intestate.

Question 21

Consanguinity

Answer 21

Lineal relations are those that follow a direct line, meaning they would be your ascendants (ancestors) or your descendants. Parent-grandparent-great grandparent.

Question 22

Affinity

Answer 22

it means related by blood but they are not ascending or descending, they are collateral. Siblings – aunts/uncles – cousins

Question 23

Pretermitted Children

Answer 23

After born children. Children born after the making of the will, or omitted because their parents forgot about them.

Question 24

Pretermitted Spouse

Answer 24

Decedent executes a will, and then marries, and then dies. Spouse is entitled to intestate share.

Question 25

Escheat

Answer 25

when there are no heirs the property passes to the state.

Question 26

Felonious slayer statute

Answer 26

Can’t inherit from a decedent if you kill them, or had them killed.