FLORIDA WILLS, TRUSTS, AND ESTATES EXAM QUESTIONS AND ANSWERS RATED A+ SURE PASS !!!

FLORIDA WILLS, TRUSTS, AND
ESTATES EXAM QUESTIONS AND
ANSWERS RATED A+ SURE PASS !!!
Whenjmustjajtrustjbejinjwriting?j-jCORRECTjANSWERSj-jSOFj(realjproperty)

-
jDevisej(ajtrustjcreatedjinjajwill;jthejtrustjmustjexistjatjthejtimejthejwilljwasjmadejorjbejcreatedjsimult


aneously)



Twojexceptionsjtojrequirementjthatjpropertyjisjinjajtrustj-jCORRECTjANSWERSj1.jPour-
overjtrustj(willjmustjbejmadejatjsamejtimejorjafterjtrust)

2.jLifejinsurancejtrust



WhatjdoesjthejRAPjnotjapplyjto?j-jCORRECTjANSWERSjCharitablejtrusts



Whojhasjstandingjtojenforcejajcharitablejtrust?j-jCORRECTjANSWERSjSettlor,jbeneficiary,jAG



Resultingjtrustj-
jCORRECTjANSWERSjUsedjwhenjajtrustjfailed;jtrusteejmustjreturnjpropertyjtojthejsettlor;jgoaljisjtoja


voidjunjustjenrichment



ConstructivejTrustj-jCORRECTjANSWERSjRemedyjusedjtojpreventjunjustjenrichmentjifjajthird-
partyjtakesjadvantagejofjthejsettlor



Whatjisjthejeffectjofjdivorcejinjajrevocablejtrust?j-
jCORRECTjANSWERSjAnyjprovisionjinjfavorjofjanjex-spousejisjforfeited




Whenjwilljajtrustjautomaticallyjterminate?j-jCORRECTjANSWERSj1.jExpirationj

, 2.jRevocation

3.jSatisfaction



Whenjcanjajtrusteejblockjthejterminationjofjanjirrevocablejtrust?j-
jCORRECTjANSWERSjIfjitjisjstilljservingjsomejmaterialjpurpose




WhenjcanjajtrusteejNOTjblockjthejterminationjofjanjirrevocablejtrust?j-
jCORRECTjANSWERSjIfjit'sjnotjservingjajmaterialjpurposejandjalljthejbeneficiariesjagree




Howjelsejcanjanjirrevocablejtrustjbejterminatedjorjamended?j-jCORRECTjANSWERSj-
jIfjsettlorjandjbeneficiariesjagree



-jIfjsettlorjisjdeadjandjalljbeneficiariesjagreej

-jSpendthriftjcanjbejmodified,jbutjnotjterminated



Canjajcourtjmodifyjanjirrevocablejtrustjifjitjisjnotjinjthejbestjinterestsjofjthejbeneficiaries?j-
jCORRECTjANSWERSjYes




Whatjisjthejmodernjapproachjtojbalancingjthejinterestsjofjlifejandjremainderjbeneficiariesjofjajtrust
?j-
jCORRECTjANSWERSjIncomejandjprincipaljmustjbejallocatedjinjajbalancedjmannerjtojtreatjalljbenefi


ciariesjfairly



Whatjisjthejprudentjinvestorjstandard?j-
jCORRECTjANSWERSjMustjusejreasonablejcaution,jskill,jandjcare;jassessjthejhealthjofjthejtrustjbyjloo


kingjatjthejwholejportfolio



SOLjtojbringjajclaimjagainstjajtrusteej-
jCORRECTjANSWERSjWithinj4jyearsjofjbreach;jexceptionjforjfraudj-


jSOLjstartsjrunningjatjdiscoveryjofjfraud