What is a Totten Trust? Why are they used?
What will be an ideal response?
A Totten Trust is a pay-on-death or POD or TOD account. The depositor opens a savings account for the benefit of another. During the depositor’s lifetime, the depositor may withdraw any or all of the money in the account. Upon the depositor’s death the money remaining in the account passes to the beneficiary by operation of law. The benefit of this type of account is so that the depositor has access to the funds during her lifetime. The beneficiary only receives any benefit of the funds upon the death of the depositor.
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Attorney Johnston's wife died last month. He is despondent and unable to concentrate on his work. He often finds the day has passed by and he has not accomplished anything on behalf of his many clients. Next week he will go to court to argue a motion for which he will be completely unprepared. Johnston
A) may be found to be incompetent because his depression is keeping him from being thorough and properly preparing for the upcoming motion. B) may not be found to be incompetent because such a finding requires some element of intent. C) may be found to be incompetent only if he has a pattern of incompetence D) may be found to be incompetent only if his depression causes him to over indulge in alcohol or drugs.
?If a plaintiff seeks to recover damages allegedly caused by a physician's negligence (medical malpractice), and the physician is one of four partners in a medical practice partnership, the plaintiff could sue which of the following?
A. ?The physician who allegedly caused the harm B. ?The partnership C. ?One of the other physicians D. ?All of the other physicians E. ?All of these choices are correct.
If defendant alleges the defense of contributory negligence the plaintiff's conduct is judged by:
a. The reasonable person standard. b. A higher standard than would be imposed on the defendant. c. A lesser standard than would be imposed on the defendant. d. None of the above.
At the close of the case, what should be done with original documents? Indexes? Copies of documents?
What will be an ideal response?