MATCHING - match the number to the correct letter

Definitions

1. What type of bank account identifies the person who should receive it when the owner dies?

2. Harris and Wilma are married and live in Connecticut. They own a house in Connecticut, two (2) cars, several bank accounts, a mutual fund, and investment property on Malibu Beach in California. Harris' job transfers him and Wilma to California. After the move, how will Harris and Wilma's property be classified?

3. Which rule requires that future interests in land take effect within 90 years of creation?

4. Velma wants to leave 20 acres to the City of Arcadia for use as a library. Which estate will help her accomplish her goals?

5. What is the Red Cross' interest in the following conveyance: "To Felicia for life, and then to the Red Cross."

6. What conveyance has Sheldon made if he signed a deed that reads, "To Michelle for life?

7. What does the law require the decedent's estate to purchase to insure the estate against any wrongdoing by the personal representative?

8. assets into a trust?

WORDS

A. Trustor

B. Community Property

C. Payable on death account

D. Quasi-community property

E. Rule against perpetuities

F. Reversion

G. Fee simple subject to condition subsequent

H. Bond

I. Roth IRA

J. Remainder

K. Life estate

L. Pension

M. Trustee