Chapter 19 Final Review

Mark was writing his will. Mark is known as the….. A.) Decedent B.) Administrator C.) Testator D.)Writer

The End

Mary was very sick. She decided to write her own will. What type of will is this? A.) Codicil B.) Holographic C.) Nuncupative D.) Written

Jerry was Mark’s son. If Mark dies Jerry will recive some money. Jerry is none as a……? A.) Decedent B.) Administrator C.) Executer D.) Inheritor

If you die without a valid will you have died…..? A.) Testate B.)Intestate C.) Estate D.) Dead

Mary wants her money to go to each of her decedents equally. What type of distribution system should she use? A.) Per Stripes B.) Per Capitia C.) Escheats D.) Right of Election

Ken’s father created a trust for him. Ken is known as the….? A.) Trustee B.) Settlor C.) Money grabber D.) Beneficiary

If Ken’s father created the trust while he was still alive the trust is none as a(n)….? A.) Constructive Trust B.) Inter Vivos Trust C.) Testamentary Trust D.) Living Trust

If Kens father wanted to make sure Ken’s creditors couldn’t take money from the trust what type of trust would he want to make? A.) Charitable Trust B.) Express Trust C.) Spendthrift trust D.) Protected Trust

What type of trust is considered an implied trust. A.) Resulting Trust B.) Spoken Trust C.( Charitable Trust D.) Private Trust

A Trust created for an altruistic purpose is known as a(n)? A.) Constructive Trust B.) Express Trust C.) Charitable Trust D.) Altruistic Trust

Fill in the blank 1.A ______ is a legal usually in writing, by which a person directs how her or his property is to be distributed - Will 2. A Trust created after the death of the settlor is labeled a(n) _______ Trust - Testamentary 3. _________ Laws saw a person missing for several years could be declared dead. - Enoch Arden 4. You die ________ If you have a valid will -Testate 5. The creator of a Trust is Known as the _________ - Settlor