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Wills Terms & Concepts

Mary Walsh

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1.A trust bifurcates legal from beneficial ownership.
3._________________ is an example of a payable on death arrangement.
5.In order to be valid, a will must be propertly _________.
6.The laws of ____________determine the distribution of property when there is no will.
7.An arrangement that is not subject to probate is known as a _______________.
9.Even if a defect in capacity is proven to exist, a contestant must ultimately prove ___________ in order to successfully challenge a will.
13.When a beneficiary decline a testamentary gift, he is said to _________the gift.
14.The UPC intestacy scheme for distributing equally among decendants employes the per capita ____________ approach.
15.The personal representative of an intestate estate.
16.Extrinsic evidence may be allowed to establish the ___________ of the testator.
17.Elective share and Community Property are transfer limitations providing __________.
20._______________is a bar to taking the decedent's property.
23.Occurs when a testator doesn't realize that he is signing a will.
26.The probate estate is not ____________ with the taxable estate.
27.An estate planning professional must take care to avoid this.
28.If a beneficiary predeceases the testator, a gift to the beneficiary is said to __________.
31.The gift, by will, of real property.
34.A written document disposing of a person's probate property at death.
35.A cancellation of an existing will.
37.The property that passes under a will is the ____________.
39.The probate court decides questions of law and fact concerning the ____________of a will.
40.The personal representative of a testate estate.
41.One of the duties of an Executor is to collect and ________ the decedent's assets.
43.As between property passing by will or by intestacy, intestacy is the ____________.
2.Documents authorizing a personal representative to act for a testate estate.
3.Documents authorizing a personal representative to act for an intestate estate.
4.The estate remaining after specific and general gifts have been distributed.
8.A personal representative has a __________ obligation to the estate.
10.The ____________attempts to standardize and streamline probate laws and processes.
11.In order to have testamentary capacity, the testator must know the ____________ of her bounty.
12.In order to avoid probate, a decedent must take __________ steps.
18.Probate may be avoided through an arrangement with a ______________ clause.
19.Revocable and irrevocable __________ are will substitutes.
21.After an estate has been probated, the debts of the decedent are _____________.
22.One way to prevent failed gifts is to make a ___________.
24.A defect in testamentary capacity.
25.An approach to intestate distribution under common law.
29.A testator's right to distribute his property is not ____________.
30.If there are not enough assets in an estate to make all gifts, some gifts must be ___________.
32.A decedent who dies without a will is said to die __________.
33.Amends an existing will.
36.A decedent who has a valid will at death.
38.A joint tenancy arrangement is one way to avoid ________.

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