I need answer for this question please from 1:22
REVIEW QUESTIONS 1. Define the following terms or concepts: 10. What is the purpose of an investment clause? a. mandatory memorandum, 11. Why is it advisable to have a "power of sale" clause b. precatory memorandum, in almost every will? c. trust, 12. Why is it advisable to have a "discretion to pay or d. testamentary trust, divide" clause in a will? e. residual gift, and 13. Why is it advisable to avoid the phrase "contents of f. executor's year. my house"? 2. Who has the final say in what a will contains? 14. What is the purpose of an "authority binding" clause in a will, and what are its limitations? 3. Explain whether the following elements of a will are (a) necessary, or (b) simply useful: 15. What is the purpose of including a Family Law Act clause in a will? a. an identification clause, 16. How binding is a "custody of children" clause in a b. a revocation clause, will? Is it useful? c. an interpretation clause, and 17. Is a "testimonium clause" necessary? Why is it d. a direction to pay debts. useful? 4. What is the result if a will does not name an 18. Where must the signature of the witnesses be? estate trustee? 19. Explain whether or not it is advisable to make a gift of 5. Is a disposition clause in a will necessary? body parts in a will. 6. What is the purpose of a 30-day survival clause? 20. Is it advisable to set out burial instructions in a will? 7. What is a "lineal descendants" clause? Why or why not? 8. What difficulty arises when making a gift to an 21. What is the problem with making a gift to or setting underage person? up a trust for a family pet? 9. What happens when a gift is made to a person 22. Why is it important to carefully interview a client who is mentally incapacitated? before drafting her will? 40 PART I ESTATE PLANNING