Answer the following statements true (T) or false (F)
1. Few people consider the ability to determine who will receive their property upon their death to be the paramount reason for executing a will.
2. Once the settlor transfers legal title of property to a trustee, the trustee will then manage the property for beneficiaries.
3. Without a will that specifically states who will care for minor children, the local child welfare agency will unilaterally make these decisions.
4. A testamentary trust may be established without a will.
1. F
2. T
3. F
4. F
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What information would be filled in the category of "local abbreviations"?
What will be an ideal response?
A concept search:
a. Requires the researcher to enter key terms that can be identified as a concrete idea. b. Uses words such as "and," "or," and "not" are used to either connect words together or to exclude certain terms that may appear in search results that are undesirable. c. Is used when the same root word is desired with different endings. d. None of the above
?Which is NOT a general rule of distribution under most states' intestate succession statutes?
A. ?If an intestate decedent is survived by a spouse and children who are all born to the surviving spouse and decedent, the spouse receives a lump sum of money and/or a portion of the estate, and the children receive the remainder of the estate equally B. ?If an intestate decedent is survived by a spouse and children, some of whom are not the children of the surviving spouse, the spouse receives a lump sum of money and/or a portion of the estate, and only the children born to both the decedent and the surviving spouse receive the other half of the estate. C. ?If an intestate decedent has no surviving spouse or kindred relatives, the state receives the decedent's property. D. ?If an intestate decedent has no surviving spouse or lineal descendants but is survived by a parent and other collateral relatives, the parent will receive the estate.
The goal of property distribution at divorce is?
A. ?support for the wife. B. ?fairness to the parties. C. ?to protect creditors. D. ?to collect taxes.