Wills, Trusts, & Estates

Question 1

What evidence must the challenger of an attested will produce to establish to testator lacked capacity?

Answer 1

A deficit in at least one of the following:

1. Alertness and attention
2. Ability to process information
3. Thought processes (delusions)
4. The ability to modulate mood

Question 2

What is the duty to inquire?

Answer 2

A Trustee of a Support Trust has the duty to inquire as to the financial situation of the beneficiaries.

Question 3

What is a Spendthrift Trust?

Answer 3

An irrevocable trust made for the beneficiary but managed by a separate trustee for the sole benefit of the beneficiary. Creditors cannot touch this money.

Question 4

What is a Mandatory or Simple Trust?

Answer 4

Trustee has no discretion as to the distribution of funds, and must follow the schedule set by the trust.

Question 5

What is a totten trust?

Answer 5

A bank account made for the benefit of a third party

Question 6

What is a constructive trust?

Answer 6

Not really an equitable trust but rather a flexible equitable remedy to prevent unjust enrichment. Trustee’s only duty is to convey the property to the person who would have