ANSWERS-CH26 - proved by an affidavit sworn to and signed...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 26 ESTATES AND TRUSTS ANSWERS TO CHAPTER 26 True-False Multiple Choice 1. F 2. F 3. T 4. F 5. T 6. F 7. F 8. F 9. F 10. F 11. T 12. a 13. b 14. d 15. b 16. a 17. d 18. a 19. a 20. e 21. a Short Essay 22. She must see that an inventory is taken of the estate. She must give notice to creditors of the estate so they can file and prove claims. She must see that the spouse is paid an allowance if so authorized and must pay burial and funeral expenses, and inheritance taxes under federal and state laws. 23. The purpose of a self-proving clause or affidavit in a will is to make the will admissible to probate without the testimony of the person who witnessed the will. In many states, as an alternative to bringing witnesses to the will into court, a will may be
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: proved by an affidavit sworn to and signed by the testator and the witnesses at the time the will was executed. 24. The term "per capita" means that each of a group of identified persons (here, the descendants) shall share equally. The relevant people are Amy, Mark, and Marcia, so each should get $333,333.33 in this case. In a "per stirpes" distribution, each descendant divides the share that his or her parents would have taken had they survived. This means that Amy and Mark each get $250,000 (50% of Bob's $500,000), and Marcia gets $500,000 (100% of Sue's $500,000). Business Law and the Regulatory Environment, 11E 47...
View Full Document

Ask a homework question - tutors are online