Wills

Question 1

Decedent

Answer 1

The dead person

Question 2

Will

Answer 2

A writing or declaration by which one directs the disposition of one’s property after death

Question 3

Testator

Answer 3

The person who writes the will

Question 4

Codicil

Answer 4

A supplement to a will

Question 5

Testate

Answer 5

A person who died with a will

Question 6

Intestate

Answer 6

A person who died without a will

Question 7

Partial intestate

Answer 7

A person died with a will, but did not delegate all property/items

Question 8

Residuary clause

Answer 8

Partial intestacy can be avoided with one

Question 9

Devise

Answer 9

To dispose property through a will and/or a testamentary disposition of real property, aka bequest or legacy

Question 10

Devisee

Answer 10

A person designated under the will to get the items/property

Question 11

Heir

Answer 11

A person who is entitled to another person’s property under intestate succession

Question 12

To be an heir

Answer 12

One must survive the decedent by 120 hours

Question 13

UPC2-101

Answer 13

A provision expressly dis-inheriting

Question 14

Probate

Answer 14

The process of proving a will or having it declared valid and effective

Question 15

Personal representative

Answer 15

Executor, administrator

Question 16

Estate

Answer 16

Property of the decedent

Question 17

Net estate

Answer 17

The gross estate minus the deduction

Question 18

Non-probate estate

Answer 18

Joint ownership

Question 19

JTWROS

Answer 19

Joint tenant with right of survivorship

Question 20

Assets not included

Answer 20

Inter vivos gifts, irrevocable living trust

Question 21

Requirements for a final will

Answer 21

a) must be in writing
b) signed by the testator or in the testator’s name by some other individual in the testator’s conscious presence and direct AND
c) signed by two individuals, each of whom signed within a reasonable time after the individual witnessed whether the signing of the will as described OR
d) acknowledged by the testator before a notary public or other individual authorized by law

Question 22

Witness

Answer 22

a) an individual generally competent to be a witness may act as one
b) the signing of a will by an interested witness does not invalidate the will

Question 23

Holographic will

Answer 23

A will that does not comply with (a) is a valid holographic will if the signature and material portions of the document are in the testator’s handwriting - not accepted by every state

Question 24

Testamentary obsolescence

Answer 24

When there are intervening occurrences which render the will less well adapted to the testator’s circumstances after a lapse of time occurs between the execution of the will and the testator’s death

Question 25

Advancement

Answer 25

The testator has given a lifetime gift to someone before death

Question 26

Ademption doctrine

Answer 26

Surrounds gifts of property no longer in an estate

Question 27

Satisfaction

Answer 27

The abrogation of a bequest by an inter vivos gift by the testator to the legatee
a) a statement in a will
b) writing contemporaneous to a gift
c) a written statement by a donee/devisee acknowledging satisfaction of the devise

Question 28

Ademption by extinction

Answer 28

A gift fails if the testator does not own the specifically devised property at death

Question 29

Guardianship exception

Answer 29

The beneficiary gets a general pecuniary gift equal to
a) the net sale price of property sold by the testator’s guardian
b) a condemnation award paid to the testator’s guardian for the property’s taking
c) insurance proceeds received by the testator’s guardian for damages to the property