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PIMS - funeral service law > week 6 > Flashcards

week 6 Flashcards

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1
Q

a proportional reduction of a devise when estate assets are not sufficient to pay it in full

A

abatement

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2
Q

the extinction or withdrawal of an inheritance because decedent didn’t own the named property at the time of death.

A

ademption

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3
Q

an addition or amendment of a last will and testament executed with the same formality of the will

A

codicil

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4
Q

a gift of real or personal property by will

A

devise

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5
Q

the person who receives a devise

A

devisee

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6
Q

forfeiture of a decedents property to the state in the absence of heirs

A

escheat

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7
Q

one who inherits, or is entitled to receive property by laws of intestacy

A

heir

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8
Q

a will written entirely by the hand of the testator

A

holographic will

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9
Q

the state or condition of dying without having made a will

A

intestate

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10
Q

the method used to distribute property owned by a person who dies without a valid will

A

intestate succession

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11
Q

oral will declared or dictated by testator during the last illness before appropriate witnesses to dispose of personal property afterwards reduced to writing (not valid in all states)

A

nuncupative will

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12
Q

the method of dividing an estate by which an equal share is given to each of a number of persons, all of whom stand in equal degree of kindred to the decedent

A

per capita

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13
Q

the method of proportionately dividing an estate between beneficiaries according to their deceased ancestors share

A

per stirpes

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14
Q

the omission or cancellation of an instrument, act, license, or promise

A

revocation

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15
Q

the condition of leaving a will at death

A

testate

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16
Q

a person who makes a valid will

A

testator

17
Q

an instrument executed with required formality, by persons making disposition of their property to take effect upon their death

A

will

18
Q

a power of attorney that remains in effect after the disability or incapacity of the principal

A

durable power of attorney

19
Q

a written instrument granting the agent broad powers to act for the principal

A

general power of attorney

20
Q

the estate assets which pass from the decedent to his/her heirs

A

inheritance

21
Q

the condition of the estate of a deceased person which is unable to pay the debts of the decedent and/or the estate

A

insolvent estate

22
Q

listing and valuation of a decedents assets by personal representative of the estate

A

inventory

23
Q

a document which governs the withholding or withdrawal of life sustaining treatment from an individual in the event of an incurable or irreversible condition that will cause death within a relatively short time, and which becomes effective when such person is no longer able to make decisions regarding his/her medical treatment

A

living will

24
Q

a secured loan on a parcel of real property

A

mortgage

25
Q

person who is appointed by the court to represent and administer the estate of a deceased person

A

personal representative

26
Q

an instrument granting someone authority to act as agent or attorney in fact for the principal; revocable and automatically terminates upon the death or incapacity of the principal

A

power of attorney

27
Q

a claim which is accorded a priority, advantage, or privilege

A

preferred claim

28
Q

the process of administering the estate and determining the validity of a will

A

probate

29
Q

a court having jurisdiction over estates

A

probate court

30
Q

a debt which is supported by a pledge, mortgage, or lien on on assets belongings to the debtor

A

secured claim

31
Q

an estate in which the assets exceed the liabilities

A

solvent estte

32
Q

a written instrument authorizing one person to act as an agent for another effective only upon a certain event occuring

A

springing power of attorney

33
Q

a model law intended to achieve uniformity in probate proceedings throughout the U.S

A

Uniform probate code

34
Q

a claim which is not supported by a pledge, mortgage, or lien on other assets

A

unsecured claims

PIMS - funeral service law (7 decks)

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