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Ques1. What is the primary purpose of a will in estate planning?
Real estate investment
Distribution of assets after death
Tax evasion
Establishing trusts
Ques2. In estate law, what does the term intestate refer to?
A person who has passed away without a will
A person with a valid will
A trust agreement
A legal guardian
Ques3. Which legal document allows an individual to appoint someone to make healthcare decisions on their behalf in case of incapacity?
Living will
Power of attorney
Last will and testament
Trust deed
Ques4. What is the role of an executor in the context of estate administration?
Managing real estate investments
Distributing assets according to the will
Providing legal advice
Reviewing tax returns
Ques5. What does the term "probate" mean in estate law?
The process of validating a will in court
Distribution of assets outside of court
A type of trust
Real estate valuation
Ques6. Which of the following is a valid reason for contesting a will?
Disagreement with the deceased person's choices
Dissatisfaction with the inheritance amount
The will was not properly executed
Delay in the probate process
Ques7. What is the purpose of a revocable living trust in estate planning?
Reducing estate taxes
Ensuring a quick probate process
Protecting assets from creditors
the distribution of assets during the grantor's lifetime
Ques8. What is the "spousal elective share" in estate law?
The estate a surviving spouse is entitled to claim
The right to disinherit a spouse
A type of joint tenancy
Transferring real estate to a surviving spouse
Ques9. What is the key difference between a living will and a durable power of attorney for healthcare?
A living will only takes effect after death.
A living will appoints to make healthcare decisions.
A durable power of attorney covers financial matters.
A attorney only applies to minor children.
Ques10. What does the term "per stirpes" mean in estate distribution?
Equally among all beneficiaries
According to the deceased's wishes
By through the deceased person's descendants
Based on the order of birth of the beneficiaries