Bequest - Study guides, Class notes & Summaries

LPL4805 PORTFOLIO MEMO - MAY/JUNE 2023 - SEMESTER 1 - UNISA - (DETAILED ANSWERS - DISTINCTION GUARANTEED!) Question 1. 1.1.1. Distinguish between an inter vivos trust and mortis causa trust (10) 1.1.2. The founder of a trust, together with the trustee has just executed a deed of trust before you, a notary. Indicate the key requirement that the trustee must be in order qualify to act as such. (1) 1.1.3. What must still be complied with in respect of the deed of trust and the trustee befor...

FSE 2080 Funeral Law Midterm Latest Version Graded A+ Abatement This term refers to a reduction in the amount of a bequest specified in a will when the estate does not have enough assets to cover it fully. Ademption This concept involves the loss or cancellation of a bequest because the decedent no longer owned the item or property specified at the time of their death. Administrator A person appointed by the court to handle the affairs of an estate for someone who has died inte...

MORT 3014 - Rules and Regulations - Exam 2 (149A) with complete solution In Minnesota no person shall, without being licensed by the commissioner of health: 1. take charge of or remove a human body from the place of death 2. prepare a dead human body for final disposition 3. arrange, direct, or supervise a funeral, memorial service, or graveside (there are exceptions to these rules) Exceptions to licensure 1. an anatomical bequest program located within an accredited school of medicin...

ASREB National Test A-3 Questions and Answers 100% Verified When a person receives real estate through a will, this is called: Demise Bequest Devise Legacy Answer-Devise A quit claim deed would do which of the following: Remove a cloud on a title Deny the spouse an interest Verify the tax liability Establish a homestead Answer-Remove the cloud on titl

Nucleons - CORRECT ANSWERS-Protons and neutrons Electrons (location) - CORRECT ANSWERS-Surrounding the nucleus Relative mass of an electron - CORRECT ANSWERS-1/1840 Strong nuclear force - CORRECT ANSWERS-The way protons and neutrons are held together in the nucleus Electrostatic forces - CORRECT ANSWERS-The attraction between protons and electrons that hold them together in the atom Atomic Number (Z) - CORRECT ANSWERS-The number of protons in the nucleus Mass number (A) - COR...

CFRE Final Test Questions & Answers 2024/2025 A person is the fundraiser for a new not-for-profit organisation. Now that the first fundraising campaign has produced donors, one of the primary responsibilities of the fundraising office is to retain the donors so that they will continue giving. The BEST course of action to accomplish this is to: - ANSWERSInclude the donors in upgrade efforts such as donor clubs. The process of establishing the gifts that a donor will reasonably consider is...

Succession Succession: - This aspect of law deals with what happens to an estate (the assets you leave behind) after you pass away. - Estate = the assets, obligations, liabilities, debts, etc. that you leave behind. - Inheritance = what is left once all the debts and liabilities have been paid. - Succession determines who qualifies to inherit. There are 2 types of succession: - 1) Testate = dealing with wills. - 2) Intestate = dealing with no wills. Terminology: - Deceased = person w...

Which of the following is income in respect of a decedent? A) Cash received from a grandmother's estate. B) Royalties received on the deceased father's published book; the right to receive these royalties was distributed from the father's estate. C) Certificate of deposit received as a gift. D) Both cash received from a grandmother's estate and royalties received on the deceased father's published book; the right to receive these royalties was distributed from the father's estate. - co...

Louisiana Notary -Homework Chapter 24 Questions and Answers 100% Accurate Louisiana Notary -Homework Chapter 24 Questions and Answers 100% Accurate Louisiana Notary -Homework Chapter 24 Questions and Answers 100% Accurate Administrator - ANSWER-a person appointed by the court as the succession representative to manage the assets and liabilities of an intestate decedent; an executor Ascendant - ANSWER-One who precede in lineage; an ancestor Bequest - ANSWER-a disposition of propert...