1. the asks a court to be appointed in order to collect assets. (1 point)
executor
intestate
testator
administrator
2. who or what grants another party the right to make financial decisions on behalf of a dying
person?
(1 point)
an executor
a beneficiary
an heir
a power of attorney
3. in community property states, a person’s property upon his or her death without a will. (1 point)
belongs to his or her spouse
goes to his or her eldest child
is sold to pay off his or her debts
is turned over to the government
4. a trust would not be terminated for which reason? (1 point)
the trust terminates with the passing of the grantor.
limited funds make it economically unfeasible to continue the trust.
all beneficiaries consent to the trust’s termination.
the trust terminates upon the happening of an event.
5. which is a hand-written document that is not created by a lawyer describing the distribution of
a person’s property after his or her death?
(1 point)
formal will
holographic will
nuncupative will
statutory will
6 people can create a document called a that stipulates their wishes for prolonged medical (1 point)
6. people can create a document called a that stipulates their wishes for prolonged medical
care in the event that they are unable to express themselves due to accident or illness.
(1 point)
healthcare proxy
living trust
living will
nuncupative will
7. which type of trust takes effect only upon the death of the grantor? (1 point)
implied
living
settled
testamentary
8. if someone dies without a will, the person is said to have died (1 point)
escheat.
intestate.
nonprobate.
nuncupative.
9. a person who creates a trust in which some or all of his or her property is entrusted to other
people of his or her choice is a
(1 point)
beneficiary.
remainderman.
settlor.
trustee.
10. the are parties who receive assets listed in the will. (1 point)
administrators
beneficiaries
executors
testators