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There are two basic types of trusts. They are:
There are two basic types of trusts. They are:
The following question is a “multiple answer” type question….
The following question is a “multiple answer” type question. Please read the hypothetical scenario and choose the correct (TRUE) answers related to the scenario. You will receive partial credit for any correct response (graded after the closing of the test). Mary Mack was diagnosed with dementia. Mary did not have a Last Will and Testament. Mary’s daughter, Betty Mack, understood that it was very important for Mary to execute a will before it was too late for Mary to understand the nature of what she was doing. Betty call an attorney and arranged to have an attorney draw up a will for her mother. Mary’s sister Lucy decided to challenge the validity of the will shortly after Mary Mack died. Lucy said that Betty took advantage of their mother; that she made her draft a will, and that she didn’t understand what she was agreeing to or signing. Lucy claimed that her mother, Mary Mack, lacked the mental capacity to create a will. The attorney that drafted the will had made certain that the will was signed in accordance with applicable laws. Mary’s witnesses claimed that Mary seemed to understand what she was signing. Lucy filed a complaint to contest the will continuing to argue that her mother, Mary Mack, lacked the requisite mental capacity to execute the will. In determining the testamentary capacity of Mary Mack, the court will most likely consider which of the following:
In a Revocable trust, the assets put in it are no longer you…
In a Revocable trust, the assets put in it are no longer yours.
A party may file a will contest complaint in Circuit Court a…
A party may file a will contest complaint in Circuit Court at any time within the six months after the admission of such will to probate in this state.
A person named as executor in a will may renounce such appoi…
A person named as executor in a will may renounce such appointment only by calling the circuit clerk’s office and verbally declaring such renunciation.
One of the primary reasons for the creation of a Revocable t…
One of the primary reasons for the creation of a Revocable trust is to avoid probate.
When an irrevocable trust is created it avoids estate tax be…
When an irrevocable trust is created it avoids estate tax because the assets no longer belong to the trustor; when the trustor dies he/she cannot be taxed on what he/she does not own.
28. Select ALL that apply from the following evaluation me…
28. Select ALL that apply from the following evaluation metrics commonly used for classification tasks.
26. Select ALL that apply regarding Python naming conventi…
26. Select ALL that apply regarding Python naming conventions.