Florida Bar Exam Guide Wills, Trusts, and Estates - Multiple-Choice Questions Prep With 100% Correct

Florida Bar Exam Guide Wills, Trusts, and Estates - Multiple-Choice Questions Prep With 100% Correct Additional general partners can be admitted as provided in writing in the partnership agreement or, - ANSWER -if the partnership agreement does not provide in writing for the admission of additional general partners, with the written consent of all partners. Where a proposed amendment to the articles of incorporation would adversely affect the rights of a class of shareholders, - ANSWER -those shareholders are entitled to vote as a group on the amendment even if they belong to a nonvoting class. Florida and federal banks, savings and loans, and other trust companies authorized to exercise fiduciary powers may serve as personal representatives in Florida. If the decedent left a will, the order of preference for appointment as personal representative is: - ANSWER -(i) the person nominated in the will; (ii) the person selected by a majority in interest of the persons entitled to the estate; and (iii) a devisee under the will. When a decedent is not survived by minor children and the surviving spouse has waived homestead rights, there is no constitutional restriction on devising homestead property. - ANSWER -The homestead exemption from forced sale by creditors in article X, section 4, inures to the surviving spouse or heirs of the owner. This provision allows a testator with no surviving spouse or minor children to choose to pass by will the homestead property with its accompanying protection from creditors to any family member within the class of persons categorized in the intestacy statute. How many peremptory challenges does each side get for capital or life felonies? - ANSWER -10. A will may be revoked by canceling, defacing, or obliterating it with the intent, and for the purpose, of revocation. - ANSWER -The intention to revoke must be present at the time of the physical act for revocation to be effective. In Florida, the attorney owes a duty, not only to the client who contracted for his services, but also to the beneficiaries named in the will. - ANSWER -Thus, the beneficiaries can sue the attorney for negligence in the preparation of the will. Generally, all persons held in custody are entitled to pretrial release on reasonable conditions. - ANSWER -However, an accused may be detained pending trial if no condition of release can adequately protect the community from the risk of harm to any person. The Florida statute provides a broad grant of authority to the personal representative to perform many transactions without court order. In the vast majority of cases, if a fee simple owner may do it, a personal representative may do it without a court order. - ANSWER -However, there are some exceptions. If the will does not grant a power of sale, any sale of real property must be authorized or confirmed by the court. The power of a personal representative to continue the decedent's unincorporated business without court order is limited to a period of four months from the date of his appointment; after that period, the personal representative must get approval of the circuit court. Under Florida law, a corporation incorporated in another state, but doing business in Florida must: - ANSWER -obtain a certificate of authority to transact business within the state and must file an annual report with the Department of State. In addition, a foreign corporation doing business in Florida must maintain a registered office and agent in the state. Upon application of any interested person, the court may reform the terms of a will, even if unambiguous, to conform the terms to the testator's intent if it is proved by clear and convincing evidence that both the accomplishment of the testator's intent and the terms of the will were affected by a mistake of fact or law, whether in expression or inducement. In determining the testator's original intent, the court may consider evidence relevant to the testator's intent even though the evidence contradicts an apparent plain meaning of the will. - ANSWER -A latent ambiguity exists when the language of the will, although clear on its face in describing a beneficiary or property, results in a misdescription when applied to the facts to which it refers. Extrinsic evidence is admissible to cure the latent ambiguity. Extrinsic evidence may be admissible to show that a provision was mistakenly omitted from a will, or that a provision contained in the will is not what the testator intended. If the alleged mistake involves the reasons that led the testator to make the will, relief may be granted if there is clear and convincing evidence that the accomplishment of the testator's intent and the terms of the will were affected. An incoming partner is liable for all obligations of the partnership including those incurred before becoming a member of the partnership. - ANSWER -However, that liability is not personal unless the incoming partner subjects himself to personal liability by novation or by a promise to pay the existing debt. A disclaimer in interest to an estate must be in writing, signed, witnessed, and acknowledged in the manner provided for the conveyance of real property. Then the disclaimer is filed with the clerk of court. - ANSWER -A disclaimer filed under the statute is irrevocable, and is effective on the date it is filed. In Florida, the right to disclaim will be barred if the beneficiary is insolvent at the time of the event giving rise to the right to disclaim. A copy of the disclaimer instrument must be delivered to the personal representative, trustee, or other person having title to or possession of the disclaimed interest. A disclaimed interest passes as though the disclaiming party predeceased the decedent. - ANSWER -Thus, it passes to children, per stirpes. Circuit courts have jurisdiction over disputes seeking more than $15,000, excluding interest and costs. - ANSWER -In a class action, the claims of the class members may be aggregated to meet the jurisdictional amount. A contract reformation is an action of equity which is within the circuit court's jurisdiction. Punitive damages are included when computing the jurisdictional amount.