Reference no: EM132201348
1. Which of the following is an INCORRECT statement regarding probate?
A. The process and procedures for settling an estate are governed by state statute.
B. Dissolution and winding up is the process of a deceased's property being collected, debts and taxes being paid, and the remainder of the estate being distributed.
C. A specialized court, called the probate court, usually supervises the administration and settlement of estates.
D. Probate is also known as settlement of the estate.
E. A personal representative must be appointed to administer an estate during its settlement phase.
2. A husband and wife make wills that leave their entire estate to each other. The husband and wife are killed simultaneously in an airplane crash. Here, the husband's property would go to _____, and the wife's property would go to _____.
A. the probate court; the probate court
B. his relatives; her relatives
C. the state; her relatives
D. the state; the state
E. his relatives; the state
3. Which of the following is an INCORRECT statement regarding a mutual will?
A. Valid mutual wills are enforceable.
B. Mutual wills are usually separate instruments with reciprocal terms.
C. A mutual will is also known as a nuncupative will.
D. Mutual wills arise where two or more testators execute separate wills that make testamentary dispositions of their property to each other on the condition that the survivor leave the remaining property on his or her death as agreed by the testators.
E. Mutual wills cannot be unilaterally revoked after one of the parties has died.
4. Which of the following is an INCORRECT statement regarding revocation of a will?
A. Divorce or annulment revokes disposition of property to the former spouse under a will.
B. A properly executed subsequent will revokes a prior will.
C. Restitution of a will occurs if the testator intentionally? tears, burns,? obliterates, or otherwise destroys it.
D. Wills can be revoked by operation of law.
E. A will may be revoked by certain acts of the testator.
5. Which of the following is an INCORRECT statement regarding a will codicil?
A. A will cannot be amended by merely striking out existing provisions on the will and adding new provisions on the will itself.
B. The codicil must incorporate by reference the will it is amending.
C. The codicil must be executed with the same formalities as a will.
D. Preparing a codicil is the legal way to change an existing will.
E. The codicil and the will are read as separate instruments.
6. Which of the following is an INCORRECT statement regarding attestation of wills by witnesses?
A. Witnesses must reside in the jurisdiction in which the testator is domiciled.
B. Wills must be attested to by mentally competent witnesses.
C. Witnesses usually sign a will following the signature of the testator.
D. A will that meets the requirements of the Statute of Wills is called a formal will.
E. Most states require attestation by two or three witnesses.
7. Which of the following is an INCORRECT statement regarding the requirements for making a will?
A. Every state has a Statute of Repose that establishes the requirements for making a valid will in that state.
B. The courts determine testamentary capacity on a case-by-case basis.
C. Wills can be handwritten.
D. Wills must be in writing to be valid, except for dying declarations.
E. Most jurisdictions require the testator's signature to appear at the end of the will.