Estate Planning - Quiz 1 with verified
answers already passed
All of the following would be members of the estate planning team except:
A) Life Insurance Consultant
B) Certified Public Accountant (CPA)
C) Attorney
D) Funeral Home Director - correct answer ✔✔ D) Funeral Home Director
Which of the following statements is true?
A) Texas independent administration is a non-court supervised form of administration that is
often quicker and less complicated than court supervised forms of administration.
B) Since Texas probate is always quick and inexpensive, living trusts are unnecessary in Texas.
C) Probate is a creature of federal law and as such may be handled by any licensed attorney
regardless of where the case is pending.
D) Probate is an unnecessary legal process that is costly and has no advantage to probate
avoidance methods. - correct answer ✔✔ A) Texas independent administration is a non-court
supervised form of administration that is often quicker and less complicated than court
supervised forms of administration.
Which of the following statements concerning wills is (are) correct?
(1) A will may be revoked by the testator prior to his/her death.
, (2) An adult child may be disinherited entirely by a parent in most states.
A) Both (1) and (2)
B) Neither (1) and (2)
C) (2) Only
D) (1) Only - correct answer ✔✔ A) Both (1) and (2)
All of the following statements concerning the transfer of property by Will are correct, except:
A) Transfers under a Will are not effective until the testator's death.
B) A will is revocable at any time prior to death.
C) A Will may direct which portions of the estate will pay taxes.
D) Property transferred by Will avoids probate. - correct answer ✔✔ D) Property transferred by
Will avoids probate.
Identify which of the following statements is true?
A) An executor appointed in one state may sell real property in another state without going to
court in the other state.
B) Divorce generally invalidates a provision in a Will that leaves assets to the former spouse.
C) Texas's felonious homicide statute prevents murderers from inheriting assets from any state.
D) Forced heirship is based on Spanish law and is found in all community states, including Texas.
- correct answer ✔✔ B) Divorce generally invalidates a provision in a Will that leaves assets to
the former spouse.
Which of the following statements concerning a valid written Will is (are) correct?
answers already passed
All of the following would be members of the estate planning team except:
A) Life Insurance Consultant
B) Certified Public Accountant (CPA)
C) Attorney
D) Funeral Home Director - correct answer ✔✔ D) Funeral Home Director
Which of the following statements is true?
A) Texas independent administration is a non-court supervised form of administration that is
often quicker and less complicated than court supervised forms of administration.
B) Since Texas probate is always quick and inexpensive, living trusts are unnecessary in Texas.
C) Probate is a creature of federal law and as such may be handled by any licensed attorney
regardless of where the case is pending.
D) Probate is an unnecessary legal process that is costly and has no advantage to probate
avoidance methods. - correct answer ✔✔ A) Texas independent administration is a non-court
supervised form of administration that is often quicker and less complicated than court
supervised forms of administration.
Which of the following statements concerning wills is (are) correct?
(1) A will may be revoked by the testator prior to his/her death.
, (2) An adult child may be disinherited entirely by a parent in most states.
A) Both (1) and (2)
B) Neither (1) and (2)
C) (2) Only
D) (1) Only - correct answer ✔✔ A) Both (1) and (2)
All of the following statements concerning the transfer of property by Will are correct, except:
A) Transfers under a Will are not effective until the testator's death.
B) A will is revocable at any time prior to death.
C) A Will may direct which portions of the estate will pay taxes.
D) Property transferred by Will avoids probate. - correct answer ✔✔ D) Property transferred by
Will avoids probate.
Identify which of the following statements is true?
A) An executor appointed in one state may sell real property in another state without going to
court in the other state.
B) Divorce generally invalidates a provision in a Will that leaves assets to the former spouse.
C) Texas's felonious homicide statute prevents murderers from inheriting assets from any state.
D) Forced heirship is based on Spanish law and is found in all community states, including Texas.
- correct answer ✔✔ B) Divorce generally invalidates a provision in a Will that leaves assets to
the former spouse.
Which of the following statements concerning a valid written Will is (are) correct?
