True/False
Indicate whether the sentence or statement is true
or false.
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1.
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An
executor is a personal representative named in a will.
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2.
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An
executor is a personal representative appointed by a court for a decedent who dies without a
will.
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3.
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One
who dies with a valid will has died intestate.
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4.
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A
legatee is a person who receives a gift of real property under a will.
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5.
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A
lapsed legacy will occur if the testator predeceases the legatee.
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6.
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To be
effective, a will must follow certain requirements exactly.
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7.
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In
most states, a person must be twenty-one years of age to execute a valid will.
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8.
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A
will may be declared invalid because of undue influence.
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9.
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A
will that is completely in the handwriting of the testator is a nuncupative will.
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10.
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A
formal will may be implied by conduct.
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11.
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A
nuncupative will is an oral will.
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12.
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Once
executed, a will cannot be revoked.
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13.
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To
"publish" a will means to record it in the appropriate county office.
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14.
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Divorce automatically revokes the entire will of a spouse who executed the will prior
to the divorce.
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15.
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Many
states allow for the distribution of assets without probate proceedings.
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16.
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Per stirpes is a method of dividing an intestate share of an
estate.
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17.
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An
express trust arises by operation of law.
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18.
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A
trust that a grantor executes orally in contemplation of immediate death is a testamentary
trust.
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19.
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In a
spendthrift trust, a beneficiary can transfer his or her right to the trust's principal if the
transfer is "thrifty."
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20.
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The
trustee is the person for whose benefit a trust is held.
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