Week 3 - Monday (Nov. 9) Wills - Test #4 Flashcards
The person for whom a will is made, who will be signing the will, is called the
testator
If I have 3 children and I don’t want one child to get any of my estate, can I leave that one child out of the will?
Yes
A ___ occurs when a spouse who owns a home as separate property dies, leaving behind another spouse who wants to continue to live in the house.
life estate
In Texas, what adjective precedes the word “Executor” in a will?
Independent
What does Independent Executor mean?
once they are appointed as executor, they do not have court oversight
What kind of trust is created if there is a minor child who cannot inherit money until the age of 18?
contingent trust
In my will, can I name someone as the guardian I want for my minor child even if the other biological parent is still alive?
yes
What is the correct name for a No-Contest Clause?
in terrorem clause
A ___ prevents a person from assigning his interest in an inheritance to a third party.
spendthrift provision
What is the last page that’s attached to a will called?
self-proving affidavit
Why do we have a self-proving affidavit?
so witnesses do not have to come to court
What is a will signing called?
execution
Provide the first and last name of one of the guest speakers from last week:
- John Nechman
- Lu Ann Trevino
(these both came this week)
What is the statute of limitations for probating a will?
4 years
What are the two most common competency questions?
Who is the President?
What year is it?
What does probate mean?
to prove up
If the executor lives outside of Texas what must be appointed?
a registered agent for service of process
Independent Executor- what does the executor do and what is the significance of the word “independent”?
A person named in the will to carry out the will (execute the will) who is “free from oversight of the court.”-which is the significance of the word Independent.
What is capacity?
is being aware what the testator is doing - he or she is aware a contract is being made to distribute estate after death.
What are the two most used capacity questions?
What year is it?
Who is the President?
If the executor lives outside of Texas, what must be appointed?
a “registered agent for service of process”
What is a will?
A legal document that tells the world who should receive which of your assets after your death
What does a will do?
A will lets your assets be distributed the way you request and allows you to name guardians for any dependent children.
What is the difference between an annulment and a divorce?
annulment voids a marriage as if it never happened and
divorce ends a valid marriage
What is the minimum age for a witness to a will?
14
A ___ gives another person the power to handle your financial affairs.
durable power of attorney
A ___ gives another person the power to make healthcare decisions for you if you can’t.
medical power of attorney
The correct name for a “living will” is a
directive to physicians (this is plural)
A ____ appoints another person to handle your funeral and what happens to your body.
appointment of agent to control disposition of remains
What is the most unique feature of an appointment to agent to control disposition of remains?
the agent must sign it (must say AGENT)
Things like bank accounts and life insurance policies that pass outside the will are called
non-probate assets
What is the statutorily correct name for a “common law” marriage in Texas?
informal marriage
What is the statutorily correct name for the other kind of marriage in Texas?
ceremonial marriage
A person who is named in a will as a person who will get a sum of money or tangible property is called a
beneficiary
The U.S. Attorney General is
Loretta Lynch
The Chief Justice of the United States is
John Roberts
