Indicate whether each of the following statements is true or false by writing T or F in the answer column.
1. The probate court is responsible for supervising the operation of a will and the settling of an estate. 1. _________
2. When a person dies intestate, the court appoints an executor to settle the estate. 2. _________
3. A tape recording is an acceptable form of will. 3. _________
4. Generally, it is good practice to have witnesses to a will who are younger than the person making the will. 4. _________
5. A person of any age can make a will. 5. _________
6. Making a codicil has similar requirements to making a new will. 6. _________
7. One of the primary purposes of setting up a trust is to receive favorable tax treatment.
7. _________
8. An inter vivos trust is created by a will. 8. _________
9. A trustee who fails to use prudent judgment in managing a trust can be held liable. 9. _________
10. A trustee does not have authority to make investments. 10. _________