Question
I need help with this What type of trust should Billy establish if his primary goal is to avoid probate and, as he says, keep
I need help with this
What type of trust should Billy establish if his primary goal is to avoid probate and, as he says, "keep everything in my life very private"?
Billy should establish:
revocable living trust
testementary trust
Jeff, age 45, is a single man and died intestate. In addition to household and personal items, he had a $25,000 car. Who will receive Jeff's car?
Whomever Jeff noted in his will.
His brothers and sisters, in equal shares, or his parents.
Whomever the state where he died indicates through probate statute.
Whomever Jeff listed as the title beneficiary.
Willis, age 50, was a single man who died intestate. In addition to household and personal items, he had a savings account valued at $30,000. Assume Willis engaged in proactive financial planning prior to death. How did Willis ensure that his savings account assets would go to a specific person?
Made a bequest in his will.
Used a transfer on death title on the bank account.
Used a residual clause to avoid probate.
Both made a bequest in his will and used a transfer on death title on the bank account.
Lini is age 30. She is single and has never been married. Two months ago, Lini was involved in a terrible automobile accident. She was taken to the hospital where it was determined that she was in a long-term coma with little chance of recovery. She did not appoint a healthcare proxy. Who may make legal decisions for Lini while she is in a coma?
Her mother or father.
Her closest living relative.
The court in the district where she is being cared for.
An attorney.
Roger is currently living in a nursing home facility. He is 92 years of age and in relatively good health. What document can Roger use to inform the nursing home staff that he would like them to withhold CPR should he stop breathing?
Healthcare proxy.
Do-not-resuscitate declaration.
Springing power of attorney.
Medical directive.
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