Wills, trusts, and estate administration concepts tested on the bar exam.
36 cards · basic cards · AI-written, checked twice. Edit anything.
- What three capacities must a testator possess to execute a valid will?
Show answer
Know the nature and extent of property, know the natural objects of bounty, and know the disposition being made.- Define a holographic will.
Show answer
A will written entirely in the testator's own handwriting, without witnesses, permitted in some jurisdictions.- What is a nuncupative will?
Show answer
A will made orally in the presence of witnesses, typically allowed only when the testator faces imminent death.- How many witnesses does a formal attested will require in most jurisdictions?
Show answer
Two witnesses, present simultaneously, who see the testator sign and know it is a will.- What is a self-proving affidavit?
Show answer
A notarized statement by witnesses verifying proper execution, eliminating the need to call witnesses at probate.- What is the doctrine of revival?
Show answer
A revoked will is reinstated if the later will that revoked it is itself revoked.- Distinguish probate property from non-probate property.
Show answer
Probate property passes through the estate; non-probate property transfers directly to beneficiaries outside probate, such as joint accounts and life insurance proceeds.- What is an elective share?
Show answer
A statutory right allowing a surviving spouse to claim a portion of the estate regardless of the will's provisions.- In intestacy, what is the typical order of succession?
Show answer
Spouse and descendants, then descendants only, then parents, then siblings, then grandparents, then aunts and uncles.- Define per stirpes succession.
Show answer
Heirs inherit by representation through their deceased ancestor; a predeceased heir's share goes to that heir's children.- Define per capita succession.
Show answer
Each member of the same generation takes an equal share; a predeceased member's share is divided among surviving members of that generation, not their descendants.- Who is a settlor in a trust?
Show answer
The person who creates the trust and transfers property into it.- What is a resulting trust?
Show answer
An implied trust arising when property is transferred and the transferor's intent is unclear, used to prevent unjust enrichment.- What is a constructive trust?
Show answer
An equitable remedy imposed by a court to prevent unjust enrichment, based on the circumstances and conduct of the parties, not the settlor's intent.- What does a spendthrift clause do?
Show answer
It prohibits beneficiaries from transferring their trust interests and prevents creditors from reaching a beneficiary's interest.
FlashKeepers