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STUDENT ASSESSMENT 1 Instructions: Circle T if the statement is true or F if the statement is false. T F 1. If the decedent has maintained a safe deposit box, it must be opened in the presence of a proper official. T F 2. ) Personal property would include such items as furniture, rugs (unlaid), land, and automobiles. T F 3. Statutes regarding the legal age of the testator vary from state to state. T F 4. The legal representative of a decedent who dies testate is called an executor. F 5. Probate codes outline the substantive and procedural requirements of estate settlement. F 6. A nuncupative will is effective only under certain circumstances. 7. A holographic will is one entirely written, dated, and signed in the handwriting of the testator. HHHH 8.) A codicil is a rewriting of an original will. 9. The Latin term cum testamento annexo means "with will annexed." 10. Because the testator will proofread the will, careful proofreading by the legal staff is not essential. F 11. Some law offices require the testator's signature or initials on all pages of the will. F 12. The following is correctly punctuated: I, SALLY SMITH, do hereby. . .. 13. Only one executor may be named in a will. 14. A bond is required of all executors. 15. The "LETTERS" referred to in probate matters are printed court forms. 16. If a minor's parents are unable to care for him or his property, a conservatorship would be established. T F 17. An incompetent is one who is incapable of handling his or her property and managing his or her own affairs. T 18. The following are spelled correctly: decedant, administrator, codicil. T F 19 . The same formalities used in preparing the original will must be followed in preparing the codicil. T 20. The names of the recently deceased person and the executor appear in the caption on legal papers in testate matters. T F T 21. Most legal papers and court forms in probate matters are prepared by the law office. 22. A written accounting is required of the executor before the estate may be distributed, unless it is warver by the beneficiaries. T F 23. Some states allow minors to make devises of real property while restricting them from making bequest of personal property. T T 24. The executor must petition the court before transferring or selling real property. T 25. Federal estate taxes are paid from estate funds and are computed on the assets of the estate. 26. T F The beneficiary is individually taxed by state inheritance taxes. 27. A trust is an estate planning tool allowing the trustor to distribute property for the benefit of the trustor's heirs. F 28. A notice to creditors is given by writing each of the decedent's creditors and notifying them of the appointment of the executor.Chapter 10 Wills, Trusts, and Probate 2 T F 29. Before the executor may assume his or her responsibility of carrying out the provisions of the will, he or she must obtain certified copies of Letters Testamentary. F 30. The probate proceeding is an adversary proceeding. 31. The court clerk's office assigns a docket number to probate cases. T F 32. Before the executor may be discharged of his or her duties, all the debts of the estate and the decedent must be discharged. T F 33. Only certain individuals may file a Request for Special Notice in a probate proceeding. T F 34. If undue influence is used on the testator, a will may be declared to be invalid. T F 35. Unless the client is to be furnished copies, the minimum number of copies required of probate documents is two. T F 36. The original will of the decedent is kept by the executor and a copy of the original will is filed with the court clerk's office. T F 37. Real property is distributed in accordance with the provisions of the will in an intestate matter. T F 38. A listing of all the assets of the decedent is called an inventory. T F 39. The federal estate tax is imposed on the transfer of the entire estate and not on the share received by a particular beneficiary. T F 40. It is important that a holographic will be witnessed. TF 41. The terms incompetent and minor have the same meaning. I F 42. A petition and an order of the court serve the same purpose. F 43. In order to close a probate proceeding, all taxes must be paid. TF 44. In a probate proceeding, the inheritance tax is determined by the probate referee. T F 45. All states require that an official notification to creditors be given. T F 46. Forms for filing the estate tax may be obtained from the U.S. Postal Service or the Internal Revenue F Service. F 47. The abbreviation a.k.a. means "also known as." T F 18. A legacy is a gift of real property. 49. In order to save attorney fees, it is a good idea to draw up a joint will. 50. The signatures of witnesses cannot appear separately, but must immediately follow the final paragraph F of the will. F 51. Formal wills are valid in all states. 32. The last clause of the will preceding the testator's signature is called the attestation clause. F 35. Administrator c.t.a. means an administrator has been appointed by the court even though there is a will. 54. The petition for probate is usually filed in the county in which the decedent resided. 55. Proper names usually are typed in all caps on legal documents. STUDENT ASSESSMENT 2 Instructions: Ci indicates the most correct answer. prit that heir's portion of the estate is called
