Wills, Trusts, and Estates Intro Cards

Question 1

A person’s (i) ______ consists of his or her (ii) _____ ____ and other (iii) ______ ________ that may be the subject of ownership. A (iv) _____’s (v) ____ ____ consists of all property that may be disposed of by will or pass by (vi) _______. Property that passes by (vii) ___ ____ is not part of the probate estate

Answer 1

(i) estate; (ii) real property; (iii) property interests; (iv) decedent’s (v) probate estate: (vi) intestacy; (vii) non-probate transfer

Question 2

The Uniform (i) ______ Code (UPC) and (ii) Uniform _____ Code (UTC) are models for legislation in wills and estates.

Answer 2

(i) probate; (ii) trusts

Question 3

(i) ______ and ______ evidence is a standard of proof that applies to many controversies regarding (ii) _____, ______, and _____; it requires (iii) ______ establishing that the fact is (iv) ______ _______ or (v) ____ ____ to be true. This standard is (vi) ____ ______ than a preponderance of the evidence, but less demanding than proof beyond a reasonable doubt.

Answer 3

(i) clear and convincing; (ii) wills, trusts, and estates; (iii) evidence; (iv) highly probably; (v) very likely; (vi) more demanding

Question 4

The law of (i) _____ applies to any portion of the decedent’s estate that has not been disposed of by (ii) ______. This may happen if: (A) the decadent dies (iii) _____ a _____; (B) the (iv) _____ is partially or wholly (v) _____; or (C) the will fails to dispose of some portion of the probate estate. The decedent’s (vi) ______ ____ is distributed to his her her (vii) _____ ______ at ____. If the decedent dies with no (viii) ____ _____, then the entire estate passes to the state under the doctrine of (ix) ____.

Answer 4

(i) intestacy; (ii) will; (iii) without a will; (iv) will; (v) invalid; (vi) intestate estate; (vii) surviving heirs at law; (viii) eligible heirs; (ix) escheat

Question 5

An intestate (i) ___ is someone entitled to (ii) _____ from a decedent under the law of (iii) ________. Because a person’s heirs cannot be (iv) _________ until (v) _____, a living person has no (vi) ____. To take intestacy, an heir must (vii) _______ the decedent. Heirs can include: (A) (viii) ________ spouses; (B) (ix) _______; (C) (x) ________; and (D) (xi) ________

Answer 5

(i) heir; (ii) inherit; (iii) intestacy; (iv) known; (v) death; (vi) heirs; (vii) survive; (viii) surviving; (ix) descendants; (x) ancestors; (xi) collaterals

Question 6

In an intestate estate, a (i) ____ _____ inherits all or part of the estate, depending on whether the (ii) _______ leaves surviving (iii) ______ or (iv) _______. Descendants take whatever is not the surviving spouses’s share. If a child or decedent precedes the decedent and has (v) ______ who survive the decedent, the predeceased child’s (vi) _______ may take by (vii) ________, either (viii) ____ _______ or (ix) ___ _____ at each generation. If the decedent has no surviving descendant, then ancestors and collateral may take whatever share of the intestate estate does not go to the surviving spouse.

Answer 6

(i) surviving spouse; (ii) decedent; (iii) descendants; (iv) parents; (v) issue; (vi) issue; (vii) representation; (viii) per stirpes; (ix) per capita

Question 7

An intestate heir’s (i) ______ may be reduced by the value of the property that the decedent has (ii) ______ to the heir before the (iii) ________’s death. The reduction may be calculated using the (iv) _______ method.

Answer 7

(i) share; (ii) transferred; (iii) decedent’s; (iv) hotchpot

Question 8

A will, or (i) _____, is a (ii) ____ _______ that indicates the (iii) _____ of a (iv) _____ regarding the disposition of his (v) ____ after death. A will may distribute real and personal property to an (vi) ______ _______ regardless of the beneficiary’s relationship to the (vii) _____. The (viii) _______ ______ is the portion of the decedent’s probate estate disposed of by will, not intestacy. For a will to be valid, a (ix) _____ must (x) ______ it with (xi) _______ _____.

Answer 8

(i) testament; (ii) written instrument; (iii) intent; (iv) testator; (v) estate; (vi) intended beneficiary; (vii) testator; (viii) testate estate; (ix) testator; (x) execute; (xi) testamentary intent

Question 9

(i) _____ is the judicial procedure under which a document is established to be (ii) ______. (iii) ______ can be informal, with minimal supervision by the probate court, or it can be full-blown (iv) _______

Answer 9

(i) probate; (ii) testamentary; (iii) probate; (iv) litigation

Question 10

Traditionally, a (i) _____ may be (ii) _____ at any time after the (iii) _____ death. State statutes may limited time. The UPC limits time to (iv) _____ ______ after death.

Answer 10

(i) will; (ii) probated; (iii) testator’s; (iv) three years

Question 11

A (i) _____ ________ is a fiduciary, compensated by the (ii) ________, who administers the decedent’s (iii) ____ _____ in the (iv) ___ ______ of successors to the estate. The personal representative (v) ______ the estate property and informs interested persons probate has begun. Creditors must file claims against the estate.

Answer 11

(i) personal representative; (ii) estate; (iii) probate estate; (iv) best interests; (v) inventories

Question 12

In general, the law of the (i) _____ where the (ii) _______ was (iii) _______ at death generally governs the will’s interpretation and validity with regard to disposition of (iv) ______ _________, and the law of the state where the (v) ________ is located governs the disposition of (vi) ___ ____. Choice-of-law clauses in (vii) ____ are generally valid and (viii) _______.

Answer 12

(i) state; (ii) testator; (iii) domiciled; (iv) personal property; (v) property; (vi) real property; (vii) wills; (viii) enforceable

Question 13

A (i) _____ must be properly executed to have any (ii) _____ _____. The formal requirements for the execution of a will depend on the type of will and whether the sate has adopted the (iii) _______ ____ rules. All states permit (iv) _______, or (v) _______, wills. In some states, unattested (vi) _______ wills, or rarely, (vii) ______ wills may also be valid.

Answer 13

(i) will; (ii) dispositive effect; (iii) harmless error; (iv) attested; (v) witnessed; (vi) holographic; (vii) oral

Question 14

An (i) ______ will is: (A) in (ii) ______; (B) (iii) ______ by the testator (or in his presence with his direction) and (C) (iv) _______ by the statutorily required number of people

Answer 14

(i) attested; (ii) writing; (iii) signed; (iv) witnesses

Question 15

A (i) ________ will is (ii) ________ by the (iii) _____. In most states, a will may be admitted to probate if it qualifies as a (iv) ________ will under the relevant state’s laws, even if it does not meet the requirements of an attested will. Traditionally, a (v) _____ will had to be entirely in the (vi) _______’s _____. Under the UPC, a (vii) _______ will is valid if the (viii) ________ and the (ix) _______ portions of the will are in the (x) ______’s _____.

Answer 15

(i) holographic; (ii) handwritten; (iii) testator; (iv) holographic; (v) holographic; (vi) testator’s handwriting; (vii) holographic; (viii) signature; (ix) material; (x) testator’s handwriting

Question 16

(i) ________, or (ii) ______ wills are generally invalid. In some states, an (iii) ____ will may be valid in some cases if the property disposed of is below a certain dollar value, and the terms are (iv) ______ ____ within a certain time after the testator’s (v) ______ declarations.

Answer 16

(i) nuncupative; (ii) oral; (iii) oral; (iv) written down; (v) oral

Question 17

A will may be valid even if the formalities of execution were not (i) _____ _____ if the (ii) _______ shows by (iii) ______ and ______ ______ that the decedent (iv) _____ to (v) _____ the document as his (vi) ____. The (vii) ______-______ rules will not excuse the lack of writing or lack of (viii) ________, but it may excuse defects in (ix) ____________. The UPC adopts the (x) ____-_____ rule.

Answer 17

(i) strictly observed; (ii) proponent; (iii) clear and convincing evidence; (iv) intended; (v) adopt; (vi) will; (vii) harmless-error; (viii) signature; (ix) attestation; (x) harmless-error

Question 18

The doctrine of (i) ______ states that, to be considered part of a (ii) _____, a page or writing must be (iii) ____ at the time of the will’s (iv) ________, and that the (v) _____ must (vi) _____ for the page or writing to be part of the will.

Answer 18

(i) integration; (ii) will; (iii) present; (iv) execution; (v) testator; (vi) intend

Question 19

A (i) _____ is a (ii) _______ document that (iii) _____ or supplements a prior valid will. A (iv) _____ will be construed to (v) ______ or revoke the will it modifies only to the extent (vi) ______ to effectuate the intent in executing the codicil.

Answer 19

(i) codicil; (ii) testamentary; (iii) amends; (iv) codicil; (v) amend; (vi) necessary

Question 20

A will may (i) _____ the contents of (ii) ___ ______ by reference, even if the requirements for integration are unsatisfied, if: (A) the will manifests the (iii) ____’s ____ to make the document part of the will; (B) the will (iv) ____ the document (v) _____ to permit its (vi) _____; and (C) the document (vii) ______ when the will was (viii) _____. The will must describe the writing early enough for a (ix) _______ _____ _____ to conclude that the (x) ____ _____ to incorporate the specific writing into the will.

Answer 20

(i) incorporate; (ii) separate writing; (iii) testator’s intent; (iv) describes; (v) sufficiently; (vi) identification; (vii) exists; (viii) executed; (ix) reasonable fact finder; (x) testator intended

Question 21

An (i) _____ _______ _______ in a will may affect the meaning of a (ii) ____ or other provision int he will, provided that the (iii) ___ _____ has significant apart from its effect on the will’s meaning. This means that the fact, act, or event would either naturally occur on its own or be done for reasons other than its effect on the will.

Answer 21

(i) external circumstance referenced; (ii) dispositive; (iii) external circumstance

Question 22

To (i) _____ a will means to (ii) __ it, in whole or in part. A will may be (iii) ______ by (iv) _____ _____ ____ or by physical act. A will may also be revoked by operation of law due to changes in the (v) _______’s _____ _____, such as marriage, divorce, or the birth of children. A revoked will may be (vi) ____ by executing a later testamentary instrument (vii) _____ _____ the will.

Answer 22

(i) revoke; (ii) annul; (ii) revoked; (iv) later testamentary instrument; (v) testator’s family circumstances; (vi) revived; (vii) expressly reviving

Question 23

A testator may enter into a valid, (i) ____ ____ to dispose of property a certain way by will or to die intestate. Similarly, a testator may (ii) ____ agree not to revoke a will or devise within a will.

Answer 23

(i) binding contract; (ii) contractually

Question 24

The primary objective in (i) _____ a will is to ascertain and effectuate the (ii) ______’s _____. To that end, courts construe a will as a whole, as opposed to interpreting (iii) ___ ____ in isolation. Courts will consider (iv) _______ _____ to: (A) establish whether the (v) _____ for a valid will are satisfied; (B) resolve an (vi) _____ in the will; or (C) determine whether an (vii) ____ exists. Some courts will rely on (viii) _____ _____ to (ix) ____ a will that, though clear on its face, does not (x) _______ the (xi) ______’s ____ _____.

Answer 24

(i) interpreting; (ii) testator’s intent; (iii) discrete provisions; (iv) extrinsic evidence; (v) requirements; (vi) ambiguity ; (vii) ambiguity; (viii) extrinsic evidence; (ix) reform; (x) reflect; (xi) testator’s true intent

Question 25

A (i) ____ is any gift under a will. (ii) _____ may be general, (iii) _____, demonstrative, or (iv) ______.

Answer 25

(i) devise; (ii) devises; (iii) specific; (iv) residuary

Question 26

A general (i) _____ is a testamentary gift, usually a (ii) ____ ___ of money or quantity of (iii) _______, payable from the estate's general assets and not from a named source within the estate.

Answer 26

(i) devise; (ii) specific sum; (iii) property

Question 27

A (i) _____ _______ is a testamentary gift of an asset that is specifically (ii) _____.

Answer 27

(i) specific devise; (ii) identified

Question 28

A (i) ____ ____ is a gift, usually of money, payable primarily from a specified source.

Answer 28

(i) demonstrative devise

Question 29

A (i) _____ ____ is the (ii) ______ -- whatever is left in the state after satisfying all claims, allowances, specific devises, general devises, and demonstrative devises

Answer 29

(i) residual devise; (ii) residue

Question 30

A will gift may be a (i) ____ ____, a gift to beneficiaries taking as members of a group. The beneficiaries each take a fraction fo the whole. The identities and shares of the beneficiaries are subjects to change over time, usually by the (ii) ____ or _____ of (iii) _____ _____. Under the (iv) ____ of ______, a class gift closes to new membership in the class once the first member of the class is entitled to distribution.

Answer 30

(i) class gift; (ii) addition or subtraction; (iii) class members; (iv) rule of convenience

Question 31

If an intended (i) ______ under a will (ii) _______ the (iii) _______, then the gift to that person (iv) ______. The gift (v) ___ _____; it passes into he (vi) ______ or into (vii) _____. Antilapse statutes avoid this result by providing that the gift will instead pass to (viii) _____ takers.

Answer 31

(i) beneficiary; (ii) predeceases; (iii) testator; (iv) lapse; (v) fails entirely; (vi) residue; (vii) intestacy; (viii) substitute

Question 32

The doctrine of (i) _______ may revoke a (ii) _____ that has been satisfied or extinguished at the time of the (iii) _____'s death. (iv) _____ by (v) _____ means that a specific devise of specifically identified atet fails because the gifted asset is not in the estate at the (vi) _____'s ______. (vii) ______ by (viii) _______ occurs if the testator has given a devise a lifetime git, which is then deducted from the devise.

Answer 32

(i) ademption; (ii) devise; (iii) testator's; (iv) ademption; (v) extinction; (vi) testator's death; (vii) ademption; (viii) satisfaction

Question 33

An (i) _____ is untying acquired due to ownership of an asset, such as income, interest, rents, dividends, profits, etc -- the economic fruits of an asset.

Answer 33

(i) accretion

Question 34

(i) _____ occurs if the estate is too (ii) ____ to satisfy both (iii) _____ claims against and the (iv) ____ to the divisees. In that event, the (v) _____ must be reduced, or (vi) ______, to the extent necessary to satisfy the claim.

Answer 34

(i) abatement; (ii) small; (iii) rightful; (iv) gifts; (v) devises; (vi) abated

Question 35

(i) _____ is the (ii) ____-____ rule that a devisee of real property may satisfy any of the mortgages or similar encumbrances against the property from the (iii) _____ ____ of the estate -- excluding (iv) ____ ___ or (v) _____ of other (vi) ______.

Answer 35

(i) exoneration; (ii) common-law; (ii) general assets; (iv) specific devises; (v) devises; (vi) realty

Question 36

The (i) ____ rule is the principle, typically embodied in a so-called (ii) ______ statute, that if a beneficiary under a will (iii) ____ and (iv) _____ (v) _____ the (vi) ______, any gift, power of appointment, or fiduciary appointment to the (vii) _______ under the will is (viii) _____ by operation of (ix) ____.

Answer 36

(i) slayer; (ii) slayer; (iii) feloniously; (iv) intentionally; (v) kills; (vi) testator; (vii) slayer; (viii) revoked; (ix) law

Question 37

A (i) _____ may disclaim, or (ii) _____, any gift, power of appointment, or other benefit under the will. The gift is deemed (iii) _____ and treated as if the recipient had (iv) ______ the (v) _____.

Answer 37

(i) devisee; (ii) reject; (iii) revoked; (iv) predeceased; (v) testator

Question 38

To take under a will, a (i) ____ must (ii) ____, or outlive, the (iii) _____. At common law, a (iv) ______ need outlive the testator by only an (v) _____. Under the Uniform Simultaneous Death Act (USDA), if the proof is insufficient to determine other than two individuals died simultaneously, each person's estate will be administered as though that person survived the other. Under the UPC and the Revised UDSA, a (vi) _____ must survive the (vii) _______ by (viii) _____ _____.

Answer 38

(i) devisee; (ii) survive; (iii) testator; (iv) devisee; (v) instant; (vi) devisee; (vii) testator; (viii) 120 hours.

Question 39

A will may be (i) ______ in (ii) ______ court. To the extent that a will contest is (iii) _______, the will is (iv) ____. The disposition of property described in the (v) ____ provisions will the pass into the (vi) _____ or into (vii) ____.

Answer 39

(i) contested; (ii) probate; (iii) successfully; (iv) void; (v) voided; (vi) residue; (viii) intestacy

Question 40

To have (i) _______ _______, or the capacity to (ii) ____ a valid will, the (iii) ______ must (A) satisfy the (iv) ____ _____ and (B) be of (v) ___ ____. The requirement of (vi) _____ ____ means that the (vii) _____ must be able to understand, in a general way, the: (A) (viii) ____ and ____ of his property; (B) (ix) ______ _____ of his bounty; (C) the nature of the (x) _____ ____ being performed; and (D) (xi) ____ of ______ set forth in the will.

Answer 40

(i) testamentary capacity; (ii) execute; (iii) testator; (iv) minimum age; (v) sound mind; (vi) sound min; (vii) testator; (viii) nature and extent; (ix) natural objects; (x) testamentary act; (x) disposition of property

Question 41

Even if a (i) ______ meets the general test for (ii) ______ ______, a will may be set aside to the extent that its (iii) _____ are influenced by (iv) ____, (v) ___ ______, (vi) ____ ____, or (vii) _____-

Answer 41

(i) will; (ii) testamentary capacity; (iii) provisions; (iv) duress; (v) undue influence; (vi) insane delusion; (vii) fraud

Question 42

A (i) ___-_____ ____ is a will provision that purports to (ii) ____ a gift to, or fiduciary appointment of, anyone who (iii) _____ the will. In most states and under the UPC, the provision is (iv) _______ unless the person contesting the will has (v) _____ ______ to do so.

Answer 42

(i) no-contest clause; (ii) rescind; (ii) contests; (iv) enforceable; (v) probably cause

Question 43

To have (i) _____ to contest a (ii) ____, the person must stand to (iii) ___ ______ financially valuable if the will is defeated or lose something financially valuable if the will stands. At (iv) ___ ____, creditors did not have (v) ____. Under the UPC, an heir, devisee, child, spouse, creditor, beneficiary, or anyone else with a claim against the will may (vi) ______ the ____.

Answer 43

(i) standing; (ii); will; (iii) gain something; (iv) common law; (v) standing; (vi) context the will

Question 44

A (i) _____ _____ is a (ii) _____ ______ that takes place outside of probate administration, usually during the donor's (iii) _____. (iv) _____ _______ fall into two broad categories: (v) ____ _____ gifts and will (vi) ___.

Answer 44

(i) non-probate transfer; (ii) donative transfer; (iii) lifetime; (iv) non-probate transfers; (v) inter vivos; (vi) subsitutes

Question 45

An (i) ____ ___ gift is a gift of (ii) _______ during the donor's (iii) _____ made without (iv) ______. The donor must (v) ______ the property to the donee with (vi) ____ ____. The donee, in turn, must (vii) ____ the ____.

Answer 45

(i) inter vivos; (ii) property; (iii) lifetime; (iv) consideration; (v) deliver; (vi) donative intent; (vii) accept the gift

Question 46

A (i) ___ _____ is an arrangement under which (ii) ____ or (iii) _______ rights: (A) are (iv) ____ other than by will; (B) remain largely (v) ____ to the donor's (vi) _____ and ___ during the donor's life; and (C) (vii) ____ ____ ____ to the donee upon the donor's death.

Answer 46

(i) will substitute; (ii) property; (iiI) contractual rights; (iv) created; (v) subject; (vi) enjoyment and control; (vii) transfer outside probate

Question 47

Common (i) ___ ___ includes inter vivos (ii) _____, life insurance, pension accounts, employee-benefit accounts, multi-party bank accounts, payable-on-death designations, joint tenancies with right of survivorship, and annuities with death benefits.

Answer 47

(i) will substitutes; (ii) trusts

Question 48

(i) ____ _____ is a mode of concurrently owning (ii) ___ or ____ _____ that features a (iii) ____ of _____. When one concurrent owner dies, the owner's interest instantly (iv) _____ -- it cannot be subject to (v) _____ or transferred by (vi) _____. The other concurrent owner's interest then (vii) ______ _____. The last (viii) _____ among the concurrent owners owns the property in full.

Answer 48

(i) joint tenancy; (ii) real or personal property; (iii) right of survivorship; (iv) vanishes; (v) probate; (vi) will; (vii) enlarges proportionately; (viii) survivor

Question 49

A (i) _____ _____, also termed a (ii) ______ trust, is a bank account on which the depositor has designated himself as trustee for a named (iii) _____. The trust (iv) ____ ______ during the depositor's life. However, the named beneficiary is entitled to any funds on deposit in the account at the (v) _____'s ____. The funds pass to the beneficiary (vi) ____ the ____ ______.

Answer 49

(i) tentative account; (ii) Totten; (iii) beneficiary; (iv) fully revocable; (v) depositor's death; (vi) outside the probate process

Question 50

A (i) ____-on-____ account is a financial account (A) that is (ii) _____ in the (iii) ______'s name and (B) whose (iv) ____ ______ provide that the account balance is payable to a (v) _____ _____ on the depositor's death. Upon the depositor's death, the funds (vi) ____ according to the (vii) ______ _____. The funds pass (viii) ____ ____ and thus are never part of the depositor's (ix) ____.

Answer 50

(i) pay-on-death; (ii) carried; (iii) depositor's; (iv) governing documents; (v) designated beneficiary; (vi) pass; (vii) account documents; (viii) outside probate; (ix) estate

Question 51

(i) _____ _____ is an arrangement in which the (ii) ___ party contracts with an (iii) ______ so that, in exchange for premium payments during the (iv) _____'s life, the (v) _____ will pay a stated amount to a (vi) _____ _____ upon the insured's death. The proceeds pass directly to the (vii) ______ under the terms of the (viii) _____ _____ ____ and are never party of the insured's (ix) ______ _____.

Answer 51

(i) life insurance; (ii) insured; (iii) insurer; (iv) insured's; (v) insurer; (vi) designated beneficiary; (vii) beneficiary; (viii) life insurance policy; (ix) probate estate

Question 52

The (i) ______ holder owns annuities, pensions, and employee-benefits during his life. On the holder's death, the death-benefit feature (ii) _____ the account in a named (iii) _____. The account passes (iv) ______ ____ _____ under the terms of the (v) ______ ____.

Answer 52

(i) named; (ii) vests; (iii) beneficiary; (iv) entirely outside probate; (v) governing documents

Question 53

A (i) _____ _____ _____ _____ allows a donor to commit certain property to a trustee for the benefit of a (ii) ______, directing the trustee to pay the (iii) _______ to a beneficiary for the (iv) _____'s life, then transfer the (v) _____ to that same or different (vi) _______ upon the donor's death. The (vii) ___ ______ passes entirely outside of probate.

Answer 53

(i) revocable inter vivos trust; (ii) beneficiary; (ii) income; (iv) donor's; (v) principal; (vi) beneficiary; (vii) trust principal

Question 54

A (i) _____-on-______ allows an individual to transfer (ii) _____ _____ to a designated (iii) _______ upon the individual's death while retaining ownership of the property during life. Generally, (iv) ______-on-___ (v) ___ are (vi) _______ and thus do not affect the transferor or transferee's interests or rights until the transferor's death

Answer 54

(i) transfer-on-death; (ii) real property; (iiI) beneficiary; (iv) transfer-on-death; (v) deeds; (vi) revocable

Question 55

(i) ____ ____ allows a decedent's surviving spouse of depending children to take a share of the (ii) ____ despite any (iii) ______ provisions in the will.

Answer 55

(i) family protection; (ii) estate; (iii) contrary

Question 56

An (i) _______ _______ is a portion of the deceased spouse's estate that, in many states, a surviving spouse may (ii) _______, by law, to take (iii) _____ of the amount specified in the will. (iv) _____-______ laws are designed to prevent the (v) ________ of the surviving spouse and to ensure that the surviving spouse and (vi) ____ _______ have adequate support.

Answer 56

(i) elective share; (ii) choose; (ii) instead; (iv) elective-share; (v) disinheritance; (i) dependent children

Question 57

A (i) ___ _____ or (ii) ____ _____ from the will may be entitled to a share of the testator's estate.

Answer 57

(i) surviving spouse; (ii) omitted child

Question 58

An (i) ____ ___, also called a (ii) ______ spouse, is a surviving spouse who is (iii) ____ from the decedent's will. An omitted spouse is generally entitled to an (iv) _____ ____ of the testator's (v) ______ unless it is clear the testator (iv) _____ to omit the spouse from the will.

Answer 58

(i) omitted spouse; (ii) pretermitted; (iii) omitted; (iv) intestate share; (v) estate; (vi) intended

Question 59

An (i) ____ ___, also called a (ii) ______ child, is a child who is (iii) ____ _____ in a parent's will because the child was (iv) ____ or (v) ____ after the parent (vi) _____ the will, or the parent (vii) _____ believed the child to be (viii) ______. An omitted child is entitled to a share of the estate.

Answer 59

(i) omitted child; (ii) pretermitted; (iii) not included; (iv) born; (v) adopted; (vi) executed; (vii) mistakenly; (viii) dead

Question 60

A (i) ____ ___ or (ii) __ may be entitled to support from the (iii) ____ in the form of a (iv) _____ _____, family allowance, or personal-property (v) _____, regardless of the terms of the (vi) _____'s will.

Answer 60

(i) surviving spouse; (ii) child; (iii) estate; (iv) homestead allowance; (v) exemption; (vi) testator's

Question 61

A (i) _____ of _____ is an instrument authorizing an individual to act as the (ii) ____ ____, or (iii) ____-in-____ of a principal -- that is, to take actions or make decisions in the principal's stead. A (iv) ___ _____ of _______ authorizes the agent to carry on a business or enterprise at large for the principal. A (v) _______, or ______ ____ of _______ authorized the agent to carry out only a particular transaction for the principal.

Answer 61

(i) power of attorney; (ii) fiduciary agent; (iii) attorney-in-fact; (iv) general power of attorney; (v) specific, or special power of attorney

Question 62

A (i) ____ of ______ is (ii) _____ if it remains effective despite the principal's (iii) _________. Some states have enacted statutes following the default rule int he UPC and the Uniform Health-Care Decisions Act (UHCDA) that a (iv) ______ of ______ is (v) _____ unless the granting instrument (vi) ________ states that it (vii) _____ upon the principal's (viii) ______.

Answer 62

(i) power of attorney; (ii) durable; (iii) incapacity; (iv) power of attorney; (vi) durable; (vi) expressly; (vii) terminates; (viii) incapacity

Question 63

Generally, to serve as an agent under a (i) ____ of _____, a person must have the (ii) _____ ___ ______ and have attained the (iii) _____ of _______ (usually 18). Under the UPC, an (iv) _____ ______ _____ under a power of attorney must: (A) act accordingly to the (v) ____'s ______ _______, or, if those are not known, according to the (vi) _______'s ______ _______; (B) act (vii) _ _____ _____; and (C) remain within the (viii) ______ of _______ granted by the power of attorney. An agent is expected to act (ix) _______, avoid (x) _____ of ______, keep (xi) _____ of transactions, and generally act with (xii) ____ and _______ to protect the principal's best interest.

Answer 63

(i) power of attorney; (ii) requisite mental capacity; (iii) age of majority; (iv) agent accepting appointment; (v) principal's reasonable expectations; (vi) principal's' best interest; (vii) in good faith; (viii) scope of authority; (ix) loyalty, (x) conflicts of interest; (xi) records; (xii) are and diligence

Question 64

Under the UPC, an agent's authority (i) ________ under circumstances such as the (ii) _____'s ____ or the agent's (iii) ______; the document may specific. A (iv) ____ may revoke a (v) _____ of ______ by giving (vi) ____ to the agent that the agent's authority has been (vii) ______. Once a power of attorney (viii) _______, so does the agent's authority to act for the principal. However, (ix) _____ _____ allows an agent whose authority has been terminated to (x) ____ the principal to transactions with a (xi) ___ ____ who is acting in good faith and without notice that the agent's authority has been terminated.

Answer 64

(i) terminates; (ii) principal's death; (iii) resignation; (iv) principal; (v) power of attorney; (vi) notice; (vii) revoked; (viii) terminates; (ix) apparent authority; (x) bind; (xi) third party

Question 65

An (i) _____ _____ is a signed document providing a person's directions regarding (ii) _____ ______ and appointing another person to make (iii) ___ ____ on his behalf if he is (iv) _____ or otherwise unable to make those decisions.

Answer 65

(i) advance directive; (ii) medical treatment; (iii) medical decisions; (iv) incapacitated

Question 66

A (i) ____-_____ power of attorney is a specialized, durable power of attorney in which the principal appoints an attorney-in-fact to make decisions regarding the principal's (ii) ___ ___ if the principal becomes (iii) ____. The UHCDA sets out requirements for (iv) ____-____ powers of attorney.

Answer 66

(i) health-care; (ii) medical care; (iii) incapacitated; (iv) health-care

Question 67

A (i) ____ ___ is a written statement in which a person indicated his preference regarding (ii) ____ ___ and gives directions that should be followed upon his (iii) _____, typically at (iv) ____ of ____. Health care providers may rely upon a (v) ___ ______ and abide by the patient's decisions about medical treatment.

Answer 67

(i) living will; (ii) medical treatment; (iii) incapacitation; (iv) end of life; (v) living will

Question 68

A (i) ______ is a (ii) ______ relationship in which a (iii) ____ holds (iv) ___ _____ to the property that a settlor placed in (v) ____ for the benefit of a (vi) _____. The (vii) _____, in turns, holds (viii) _____ ____ to the property. The (ix) ______ has (x) ______ and _____ of the trust property with a corresponding (xi) ______ to deal with the property in the (xii) _______'s (xiii) _____ _____.

Answer 68

(i) trust; (ii) fiduciary; (iii) trustee; (iv) legal title; (v) trust; (vi) beneficiary; (vii) beneficiary; (viii) equitable title; (ix) trustee; (x) possession and control; (xi) obligation; (xii) beneficiary's; (xiii) best interest

Question 69

An (i) _____ _____ is created if a (ii) _____ _____ his (iii) ____ to have someone hold his property for the benefit of a (iv) _____ ______. Creating an (v) ____ ___ requires the (vi) _____ to: (A) have the (vii) _____ to create a trust; (B) (viii) ______ the ______ to create a trust; and (C) transfer an interest in (ix) ______ _____ to a trustee, who has duties regarding that trust. In addition, the trust must have a valid, (x) _______ ____.

Answer 69

(i) express trust; (ii) settlor express; (iii) intent; (iv) third party; (v) express trust; (vi) settlor; (vii) capacity; (viii) manifest the intent; (ix) specific property; (x) ascertainable purpose

Question 70

An (i) _____ _____ trust, or (ii) _____ trust, is created during the (iii) ______'s lifetime and may distribute (iv) _____ before the settlor's death. (v) _____ ______ ____ trusts are often used as will substitutes. An (vi) ______ ____ ____ _____ is comparable to an inter vivos gift because it cannot be revoked without the consent of all beneficiaries, and it provides for transfers during the settlor's lifetime. A (vii) __________ trust is created by the (viii) _______-_______'s valid will. Because a will takes effect only upon the (ix) ______-_______'s death, a (x) ______ trust does not exist and thus cannot distribute property until the testator-settlor dies. All (xi) ______ trusts are irrevocable.

Answer 70

(i) inter vivos; (ii) living; (iii) settlor's; (iv) property; (v) Revocable Inter vivos; (vi) Irrevocable inter vivos trust; (vii) testamentary; (viii) testator-settlor's; (ix) testator-settlor's, (x) testamentary; (xi) testamentary

Question 71

A (i) _____ creates and contributes (ii) _____ to a trust by (iii) _____ ____ _____ in the trust property to a (iv) _____. Generally, the (v) _____ to create a testamentary trust or a revocable inter vivos true is the same that is required to make a valid will.

Answer 71

(i) settlor; (ii) property; (iii) transferring legal title; (iv) trustee; (v) capacity

Question 72

The (i) _____ is the person who holds (ii) ____ ____ to trust property and must deal with the property solely in the (iii) ______'s (iv) ____ ____. The (v) _______ bears a (vi) _____ relationship to the (vii) _________; this relationship imposes duties of (viii) _____ and ______ on the trustee. A trustee may be a (ix) _____ _____ or an (x) _____ ______, such as a corporation.

Answer 72

(i) trustee; (ii) legal title; (iii) beneficiary's; (iv) best interest; (v) trustee; (vi) fiduciary; (vii) beneficiary; (viii) care and loyalty; (ix) natural person; (x) artificial entity

Question 73

The (i) ____ ______, or (ii) ____ (also called the (iii) ___) consists of whatever interests in property are held in trust subject to the trustee's fiduciary powers and responsibilities.

Answer 73

(i) trust property; (ii) res; (iii) corpus

Question 74

A trust must have a (i) ___ _____ that is (ii) _____ and not (iii) _____ to ____ _____. The purpose of the trust must be (iv) _____ to _____.

Answer 74

(i) valid purpose; (ii) lawful; (iii) contrary to public policy; (iv) possible to achieve

Question 75

For a trust to arise or continue, the trust must (i) _______ at least one (ii) _______ who is either (iii) _______ at the time or will become (iv) ______ in the future and within the period of the rule against perpetuities.

Answer 75

(i) designate; (ii) beneficiary; (iii) ascertainable; (iv) ascertainable

Question 76

A (i) ________ will devises all or some part of the (ii) ___ ____ to a separate trust for disposition under the terms of the trust. (iii) ______ ______ are generally used to (iv) ______ _____ outside the (v) ____ process.

Answer 76

(i) pourover; (ii) probate estate; (iii) pourover dispositions; (iv) administer property; (v) probate

Question 77

A (i) ___ ____ is created for one or more (ii) _____ purposes. (iii) _____ trusts are subject to special rules that do not apply to ordinary private express trusts.

Answer 77

(i) charitable trust; (ii) charitable; (iii) charitable

Question 78

A (i) ______'s interest in a trust is generally (ii) _______ unless the trusts terms provide otherwise.

Answer 78

(i) beneficiary's; (ii) inalienable

Question 79

To protect (i) ______ from potential (ii) _____ or from (iii) beneficiaries' _______, (iv) ______ often create trusts that restrict the alienability of a beneficiary's interest in the trust.

Answer 79

(i) assets; (ii) creditors; (iii) mismanagement; (iv) settlors

Question 80

A (i) ________ trust is a (ii) ______ trust in which the trustee has (iii) ____ to make (iv) ______ of the trust principal or income to the (v) _________. Generally, a (vi) _______ may not (vii) _____ his interest in a (viii) _____ trust. Creditor's access to a beneficiary's interest or to distributions may also be limited.

Answer 80

(i) discretionary; (ii) protective; (iii) discretion; (iv) distribution; (v) beneficiaries; (vi) beneficiaries; (vii) alienate; (viii) discretionary

Question 81

A (i) ______ trust is a (ii) ________ trust that by its terms (iii) ______ both (iv) _______ and (v) ________ transfers of the beneficiary's trust interest. The (vi) _______ may not transfer his interest in the trust, and creditors may not reach that interest to satisfy their claims.

Answer 81

(i) spendthrift; (ii) protective; (iii) restricts; (iv) voluntary; (v) involuntary; (vi) beneficiary

Question 82

A power of (i) ______ is authority to (ii) _____ or dispose of trust (iii) ______. A power of invasion may be (iv) ______ (held by the (v) ______) or non-fiduciary (held by the (vi) ______)

Answer 82

(i) invasion; (ii) withdrawal; (iii) principal; (iv) fiduciary; (v) trustee; (vi) beneficiary

Question 83

The requirements to (i) _____ or (ii) ____ a trust depend largely on whether the trust is (iii) ______ or (iv) _____.

Answer 83

(i) modify; (ii) revoke; (iii) revocable; (iv) irrevocable

Question 84

If the terms of the trust provide an (i) _____ _____ by which the (ii) ______ may (iii) _____ or ____ the trust, then that is the only method by which the (iv) _____ may (v) _____ or _____ the trust. Otherwise, the (vi) ______ may (vii) ___ or ____ by a method prescribed in the trust or by another method, such as a later will or (viii) _____ that provides evidence of the (ix) ______'s (x) _____.

Answer 84

(i) exclusive method; (ii) settlor; (iii) amend or revoke; (iv) settlor; (v) amend or revoke; (vi) settlor; (vii) amend or revoke; (viii) codicil; (ix) settlor's; (x) intent

Question 85

An (i) _____ ____ maybe modified or (ii) _______ if (iii) ____ ______ and the (iv) _____ consent. If fewer than (v) ____ parties consent, the trust may be modified or (vi) ____ if only that would not be (vii) ______ with a (viii) ____ ____ of the trust, and if the interests of (ix) ______ ________ are protected

Answer 85

(i) irrevocable trust; (ii) revoked; (iii) all beneficiaries; (iv) settlor; (v) all; (vi) revoked; (viii) inconsistent; (viii) material purpose; (ix) non-consenting beneficiaries

Question 86

The (i) _____'s consent is (ii) ___ ordinarily needed to (iii) _____ or ______ a trust, but the trustee may (iv) _____ to a proposed (v) ______ or _______ of a trust. In some circumstances, his (vi) _____ obligations may require him to do so.

Answer 86

(i) trustee's; (ii) not; (iii) modify or terminate; (iv) object; (v) modification or termination; (vi) fiduciary

Question 87

A (i) ____ or an (ii) ______ trust may be (iii) _______ or ____ based on (iv) _______ _________, or if continuing the trust on its original purpose becomes (v) ______ for any of various reasons.

Answer 87

(i) revocable; (ii) irrevocable; (iii) modified or revoked; (iv) unanticipated circumstance; (iv) infeasible

Question 88

A (i) _____ may terminate if: (A) the trust is revoked or (ii) _____ pursuant to its (iii) _____; (B) no (iv) ____ ____ of the trust remains to be (v) ______; or (C) the purposes of the trust have become (vi) ______, (vii) _____ to _____ ____, or (viii) ______ to ______.

Answer 88

(i) trust; (ii) expires; (iii) terms; (iv) material purpose; (v) achieved; (vi) unlawful; (vii) contrary to public policy; (viii) impossible to achieve

Question 89

Courts sometimes imply a gift if that outcome best (i) _____ with the (ii) ______'s (iii) ______

Answer 89

(i) comports; (ii) settlor's; (iii) intent

Question 90

A (i) ____ trust is imposed or implied to provide an (ii) _____ remedy. The two types of (iii) _____ trusts are (iv) ______ trusts and resulting trusts

Answer 90

(i) remedial; (ii) equitable; (iii) remedial; (iv) constructive

Question 91

A (i) ______ holds (ii) ____ ____ to the (iii) _____ ____ and owes (iv) ______ duties to administer the property in the (v) ___ ______ of the beneficiaries, who in turn have standing to enforce the trustee's obligations.

Answer 91

(i) trustee; (ii) legal title; (iii) trust property; (iv) fiduciary; (v)best interest

Question 92

Generally, to be a (i) _____, a person must: be (ii) _____ to the role by the trust or a (iii) _____; (iv) ______ the appointment; and have the (v) ______ to serve as a trustee.

Answer 92

(i) trustee; (ii) appointed; (iii) court; (iv) accept; (v) capacity

Question 93

A (i) _____ may acquire and sell (ii) _______ for the trust, and otherwise exercise the powers that an (iii) _____ could over property, such as making repairs or making loans out of trust property.

Answer 93

(i) trustee; (ii) trustee; (iii) owner

Question 94

A trustee's fiduciary obligations include: (A) a duty to (i) ________ the trust in (ii) ___ _____, according to the trust's terms and purposes and the (iii) ____ ____ of the beneficiaries; (B) a duty of (iv) _____, or to administer the trust (v) _______ by considering the terms and purposes of the trust and exercising (vi) _____ _____, ______, and _______; (C) a duty of (vii) _______, or to administer the trust solely in the interests of the beneficiaries, avoiding (viii) ______ of _______ and (ix) _____-______; and (D) a duty to be (x) ________ toward the respective beneficiaries in investing, managing, or distributing the trust property.

Answer 94

(i) administer; (ii) good faith; (iii) best interests; (iv) care; (v) prudently; (iv) reasonable care, skill, and caution; (viii) loyalty; (viii) conflicts of interest; (ix) self-dealing; (x) impartial

Question 95

While administering the trust, a (i) ______ may (ii) _____ personal (iii) _______ to the (iv) ______, or sometimes, to third parties.

Answer 95

(i) trustee; (ii) incur; (iii) liability; (iv) beneficiaries

Question 96

A (i) _____ is generally liable for a (ii) ______ of _____, if the (iii) _____ violates a (iv) _____ owed to the (v) ______. Remedies for (vi) ______ of ____ including compelling the (vii) _______ to perform the (viii) _____, (ix) _______ the trustee, reducing the trustee's (x) ________, (xi) ______ the improper act, or damages.

Answer 96

(i) trustee; (ii) breach of trust; (ii) trustee; (iv) duty; (v) beneficiary; (vi) breach of trust; (vii) trustee; (viii) due; (ix) suspending; (x) compensation; (xi) voiding

Question 97

A (i) _____ is not (ii) _______ liable for any (iii) ____ entered in the (iv) _____'s fiduciary capacity. However, if the (v) _______ is personally at (vi) _____, then the (vii) _____ is (viii) _____ liable for any (ix) ______ committed in administering the trust and any obligations arising from ownership or control of trust (x) _____.

Answer 97

(i) trustee; (ii) personally; (iii) contract; (iv) trustee's; (v) trustee; (vi) fault; (vii) trustee; (viii) personally; (ix) tort; (x) property

Question 98

A (i) _____ may delegate (i) ____ and _____ to an agent if a (iii) _____ ______ of comparable skills would do so under the (iv) ________. A (v) _____ is generally not personally liable for the (vi) ____'s actions, but the (vii) ___ may be (viii) ____ liable for the agent's (ix) ______ under general principles of agency law.

Answer 98

((i) trustee; (ii) duties and powers; (iii) prudent trustee; (iv) circumstances; (v) trustee; (vi) agent's; (vii) trust; (viii) vicariously; (ix) conduct

Question 99

A (i) ______ interest, also known as a (ii) ____ ______ ____ or (iii) _____ estate, is an interest that affords the holder the (iv) ____ right to possess (v) ____ or _____ property.

Answer 99

(i) present; (ii) present possessory estate; (ii) present; (v) present; (v) real or personal

Question 100

A (i) _______ interest is an interest in (ii) ____ or ___ property that exists in the (iii) _______ but will confer the right to (iv) _________ the property only once some (v) _____ event occurs.

Answer 100

(i) future; (ii) real or personal; (iii) present; (iv) possess; (v) future

Question 101

A (i) ______ interest always follows a prior interest, whether a present interest or another (ii) _____ interest.

Answer 101

(i) future; (ii) future

Question 102

The (i) __ ____ interests are the most expansive present interests. Most of the (ii) ___ ____ interests are defined with reference to the corresponding (iii) ___ _____, and vice versa.

Answer 102

(i) fee simple; (ii) fee simple; (iii) future interests

Question 103

A (i) ___ _____ _____ is a present interest that is (A) of potentially (ii) _______ duration and (B) not subject to any (iii) _____ _____.

Answer 103

(i) fee simple absolute; (ii) infinite; (iii) future interest

Question 104

A (i) ____ _____ ______ is a present interest that is (A) of potentially (ii) ____ duration and (B) subject to a (iii) ____ ______ known as a (iv) _____ or a (v) ____. Upon the occurrence of some event specified in the conveyance, the (vi) _____ ____ ______ will terminate. At that point, (vii) _______ will (viii) ______ and _______ ripen in favor of the (ix) _________ or the (x) _____'s successors in interest in (xi) ____ ____ ______

Answer 104

(i) fee simple determinable; (ii) infinite; (iii) future interest; (iv) possibility; (v) reverter; (vi) fee simple interest; (vii) possession; (viii) immediately and automatically; (ix) grantor; (x) grantor's; (xi) fee simple absolute

Question 105

A (i) ____ ______ subject to a (ii) ______ ______ is a present interest that is (A) of potentially (iii) ___ duration and (B) subject to a (iv) _____ ____ known as a (v) power of ______ or (vi) right of _____. The (vii) ____ ____ ____ will terminate, and possession will ripen in favor of the (viii) _____ or the (ix) ______'s successor in interest in fee simple absolute, if (A) an event specified in the (x) ____ occurs, and (B) the (xi) _____ or the (xii) _____'s successor in interest take some (xiii) _____ steps to (xiv) ___ the property. Until these (xv) _______ steps are taken, (xvi) _____ will remain with the grantee.

Answer 105

(i) fee simple; (ii) subsequent condition; (iii) indefinite; (iv) future interest; (v) termination; (vi) entry; (vii) fee simple interest (viii) grantor; (ix) grantor's; (x) conveyance; (xi) grantor; (xii) grantor's; (xiii) affirmative; (xiv) reclaim; (xv) affirmative; (xvi) possession

Question 106

A (i) ___ ___ subject to a (ii) ______ _____ is a present interest that is (A) of potentially (iii) ____ duration and (B) subject to a (iv) ____ ___ known as an (v) _____ _____. Upon the occurrence of some event specified in the (vi) ____ of ______, the (vii) ___ ___ _____ will terminate automatically, without further action by a (viii) ____ _____, and (ix) ______ will (x) ______ and _____ ripen in favor of a (xi) _____ ____.

Answer 106

(i) fee simple; (ii) executory limitation; (iii) indefinite; (iv) future interest; (v) executor interest; (vi) instrument of conveyance; (vii) fee simple estates; (viii) third party; (ix) possession; (x) instantly and automatically; (xi) third party

Question 107

A (i) ____ _____ is a (ii) _____ _____ that exists for the (iii) ______ of a specified person and (iv) _____ once that life ends. A (v) _____ ______ is always follows by (vi) ___ _____, either a (vii) ______ in favor of the grantor or his successors in interested or a (viii) _____ in favor of a third party. The holder of a (ix) ___ ____ may freely (x) _____ the (xi) ___ _____ during his own life.

Answer 107

(i) life estate; (ii) present interest; (iii) life; (iv) terminates; (v) life estate; (vi) future interest; (vii) reverter; (viii) remainder; (ix) life estate; (x) transfer; (xi) life estate

Question 108

A (i) ___ ____ is a (ii) ___ _____ that can be inherited only by certain of the grantee's lineal descendants and no one else. The (iii) ____ ____ ends once the current holder dies without lineal descendant. Possession then reverts to the holder of the corresponding (iv) ___ _____, either a (v) _____ or a (vi) _______. Most states have abolished the (vii) ____ ____

Answer 108

(i) fee tail; (ii) life estate; (iii) fee tail; (iv) future interest; (v) reverter; (vi) remainder; (vii) fee tail

Question 109

A (i) ___ of ____ is a (ii) ___ ____ that lasts for a specified period of (iii) _____. Once the (iv) ____ ends, the (v) ___ of _____ terminates, and (vi) _______ _____ in favor of the holder of the corresponding (vii) ____ _____, either a remainder or a reverter.

Answer 109

(i) term of years; (ii) present interest; (iii) years; (iv) period; (v) term of years; (vi) possession ripens; (vii) future interest

Question 110

The most important future interest include: (i) _____, (ii) _____, and (iii) _____ _____-

Answer 110

(i) reversions; (ii) remainders; (iii) executory interests

Question 111

A (i) _____ is a (ii) ______ _____ that (iii) _____ in the grantor of the grantor's (iv) ____ in _____. A (v) ____ arises if the grantor (A) conveys to a grantee an interest of lesser duration than what the grantor had before the conveyance (B) without conveying the rest of the grantor's interest to someone else. A (vi) _______ may follow a (vii) _____ _____, fee tail, or (viii) ____ of ____.

Answer 111

(i) reversion; (ii) future interest; (ii) vests; (iv) successor in interests; (v) reversion; (vi) reversion; (viii) life estate; (viii) term of years

Question 112

A (i) _____ is a (ii) ____ _______ that (A) arises at the same time and by the same (iii) _____ as its preceding present or future interests; (B) becomes (iv) ______ immediately once its preceding interests naturally terminates, with no lapses in time; (C) never (v) _____ terminates its preceding interest; and (D) (vi) _____ only in a (vii) _______. A (viii) _______ may follow a life estate, fee tail, or term of years, but it may never follow a (ix) ____ _____ ______.

Answer 112

(i) remainder; (ii) future interest; (iii) instrument; (iv) possessory; (v) prematurely; (vi) vests; (vii) grantee; (viii) remainder; (ix) fee simple interest

Question 113

An (i) ____ ____ is any (ii) ____ ______ that (A) will (iii) ____ into (iv) _____ only upon the occurrence of some event specified in the (v) _______; (B) is held by a (vi) _____, not the grantor or his successor in interest; and (C) does not meet the precise definition of a (vii) _____..

Answer 113

(i) executory interest; (ii) future interest; (iii) ripen; (iv) possession; (v) conveyance; (vi) grantee; (vii) remainder

Question 114

A (i) ______ ____ _______ divests an interest held by a grantee.

Answer 114

(i) shifting executory interest

Question 115

A (ii) ______ ____ ________ divests an interest held by a grantor or the grantor's successors in interest.

Answer 115

(ii) sprinting executory interest

Question 116

In general, an interest in a property is (i) _____ if it is subject to a (ii) ___ _____ or it is created in favor of an (iii) __-____ _____ or ascertainable person. An interest is (iv) ______ if any (v) ____ ______ has occurred, and all holders of the interest are (vi) _____ and (vi) _____.

Answer 116

(i) contingent; (ii) condition precedent; (iii) as-yet unborn; (iv) vested; (v) condition precedent; (vi) born; (vii) ascertained

Question 117

A (i) _____ is (ii) _____ if it is held by some unknown or unborn person or subject to a (iii) ____ ____ other than the natural termination of the prior interest. A (iv) ____ _____ will (v) ______ if the holder is born and identified, and the (vi) ____ _____ is satisfied. The (vii) ____ is presumed to retain a (viii) ________ until the (ix) _____ ____ in a grantee.

Answer 117

(i) remainder; (ii) contingent; (iii) condition precedent; (iv) contingent remainder; (v) vest; (vi) condition precedent; (vii) grantor; (viii) reversion; (ix) remainder vests

Question 118

A (i) _____ is (ii) _____ if it is granted to a person who is (iii) ______ and _____ and there are no (iv) _____ ____ for the remainder to become (v) _______ over than the natural termination of the preceding present interest. There are three basic types of (vi) _____ _____: (A) (vii) ________ vests remainders; (B) vested remainders subject to (viii) ______ ______; and (C) vested remainders subject to (ix) ______.

Answer 118

(i) remainder; (ii) vested; (iii) born and ascertainable; (iv) conditions precedent; (v) possessory; (vi) vested remainders; (vii) indefeasibly; (viii) complete divest; (ix) open

Question 119

A power of (i) _____ is an interest in (ii) ____ or ____ ______ that authorized the holder to (iii) ______ another's property or estate in a specified way.

Answer 119

(i) appointment; (ii) real or personal property; (iii) distribute

Question 120

In a power of appointment, the (i) ______ is the person who creates the power; the (ii) ____ is the person authorized to exercise the power; the (iii) _____ is the person designated to receive an interest in the property ; the (iv) _____-in-_____ is someone who will take the appointive peorprty if the donee failed to exercise the power.

Answer 120

(i) donor; (ii) donee; (iii) appointee; (iv) taker-in-default

Question 121

A power of appointment may be (i) ______ based on how the (ii) ______ may exercise it and the universe of permissible (iii) ________. Types of power of appointment include the: (A) (iv) _____ _____ power; (B) (v) _____ _____; (C) (vi) ____ ______; and (D) ____ ___.

Answer 121

(i) categorized; (ii) donee; (iii) appointees; (iv) presently exercisable; (v) testamentary power; (vi) general power; (vii) non-general power

Question 122

Under the common-law (i) _____ _____ _____ (RAP), to be valid, some (ii) ___ ____ ___ must, by their terms, vest no later than (iii) ___ years after the death of someone tiers born and alive or in gestation at the creation of the interest (the perpetuities period). If there is (iv) ___ _____ that the interest could vest outside the perpetuities period, no matter how remote or unrealistic, the future interest is void.

Answer 122

(i) rule against perpetuities; (ii) contingent future interest; (iii) 21; (iv) any possibility

Question 123

The common-law rule against perpetuities applies to: (i) ______ remainders; (ii) ______ interest; (iii) _____ remainders subject to open and other open class gifts; the duration of all (iv) _______ ______; and power of (v) ________. The RAP also applies to most (vi) _____ to buy land and rights of first refusal.

Answer 123

(i) contingent; (ii) executory; (iii) vested; (iv) charitable trusts; (v) appointment; (vi) options

Question 124

Many states have abandoned the common law RAP in favor of the (i) _____-and-_____ approach. This approach permits a (ii) _____ _____ subject to the RAP to remain outstanding until (iii) ___ _____ after the death of the relevant lives in being, to see whether the interest actually (iv) ____ or falls within the perpetuities period.

Answer 124

(i) wait-and-see; (ii) future interest; (iii) 21 years; (iv) fails

Question 125

In general, if an (i) ______ ______ under a revocable trust or other will substitute dies before the (ii) _______, then the gift to that person (iii) _______, just as it would under a will. The gift (iv) _____ _____ and does not pass to the intended recipient's (v) _____.

Answer 125

(i) intended beneficiary; (ii) settlor; (iii) lapses; (iv) entirely fails; (v) estate

Question 126

The rule on (i) _____ _____ created by trust are essentially the same as those on (ii) ____ ____ created by will. Thus, for instance, the (iii) _____ of _______ applies to class gifts in trusts, and any anti lapse statute will not apply to (iv) _____-_________ classes under a trust.

Answer 126

(i) class gifts; (ii) class gifts; (iii) rule of convenience; (iv) multi-generational

Question 127

At common law, the doctrine of (i) ______ _______ provided that if a grantor conveyed property to another and, in the same (ii) _____, created a (iii) _____ ____ in the grantor's own heirs, then the (iv) ______ ______ in the heirs would be void. Instead, the grantor himself would hold a (v) ______. Today, the doctrine of (vi) ____ _____ does not apply to transfer by will. The great majority of states have also abolished the doctrine as to other forms of transfer.

Answer 127

(i) worthier title; (ii) instrument; (iii) future interest; (Iv) future interest; (v) reversion; (vi) worthier title

Question 128

The rules governing construction of (i) ____ to (ii) ______ are generally the same in the contest of trusts as in the contest of wills.

Answer 128

(i) gifts to children

Question 129

A (i) _____ by (ii) ______ involves a (iii) _____ _____ of a (iv) _____ _____ ______ that fails to anticipate some other contingency, leaving a gap in the disposition of the transferor's property. Technically, if a (v) _____ disposes of less of aj estate that the transferor owns, a (vi) ____ results. Despite the technically, however, courts have sometimes found a gift by (vii) ________ to fill the gap in (viii) _______ if a (ix) _______ seems (x) ______ to the _____ of the the transferor.

Answer 129

(i) gift; (ii) implication; (iii) donative transfer; (iv) contingent future interest; (v) transferor; (vi) reversion; (vii) implication; (viii) disposition; (ix) reversion; (x) contrary to the intent