Trusts and Estates Law Quiz

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Questions and Answers

Is it true that the average American family today is poorer than during the American Revolution in 1776?

Wealth levels have increased slightly

Wealth levels are the same

True

False (correct)

What type of average is more representative of the typical American’s experience due to wealth concentration?

A mean

A median (correct)

An average of all assets

A mode

Why is the median average preferred over the mean average in discussions of wealth distribution?

It takes historical wealth into account

It ignores extreme wealth values (correct)

It includes all families in calculations

It represents all average incomes equally

Which of the following best describes the wealth distribution in the United States?

Highly concentrated among a small percentage Signup and view all the answers

How does the concentration of wealth affect economic discussions?

It complicates understanding of average wealth Signup and view all the answers

Which of the following is a habit that can help build long-term wealth in a family?

Living below one's means to invest for growth Signup and view all the answers

What is one method for teaching children to handle windfalls from gifts thoughtfully?

Teaching them to save instead of spend windfalls Signup and view all the answers

What misconception might people have regarding the wealth of families now compared to 1776?

Most families have less wealth today Signup and view all the answers

How can strong inter-familial communication about financial goals impact wealth-building?

It allows for better alignment and cooperation towards shared financial objectives Signup and view all the answers

What is the effect of extreme wealth on mean averages?

It skews them higher Signup and view all the answers

Why is continuing financial education important in a family setting?

To prepare younger members for financial responsibilities Signup and view all the answers

Which average would show a lower figure if there are extreme outliers in wealth?

A median Signup and view all the answers

Under the UPC, what must Jon Snow establish to potentially inherit from Ned Stark if omitted from a will?

His paternity under certain statutory conditions Signup and view all the answers

What impact does dying intestate have on Jon's right to inherit from Ned Stark?

Jon cannot inherit unless he establishes paternity Signup and view all the answers

Which of the following statements about nonmarital children and inheritance is correct?

Omitted nonmarital children can challenge a will if paternity is established Signup and view all the answers

What concept does primogeniture refer to in the context of inheritance?

The right of the eldest child to inherit family property Signup and view all the answers

What must Jon establish in order to potentially inherit from Stark if he is omitted from the will?

Establishment of paternity Signup and view all the answers

Under what condition can Jon inherit from Stark despite being omitted in the will?

If he meets certain statutory conditions Signup and view all the answers

What prevents Jon from inheriting from Stark if he kills his wife?

The slayer statute Signup and view all the answers

If Stark's will does not mention nonmarital children, what implication does this have for Jon's inheritance?

Jon can still inherit if he establishes paternity Signup and view all the answers

In what situation would Jon NOT be considered a child for inheritance purposes?

If Jon cannot establish paternity Signup and view all the answers

How does the Uniform Probate Code (UPC) define a 'child' concerning inheritance?

Any child, including nonmarital children, as long as paternity is established Signup and view all the answers

What is a key factor affecting Jon's ability to inherit despite being omitted from Stark's will?

Whether Jon can establish his relationship to Stark Signup and view all the answers

What legal principle would generally prevent an heir from inheriting if they have killed the decedent?

The slayer statute Signup and view all the answers

What is a possible ethical violation in joining a client's business endeavor?

It creates a conflict of interest. Signup and view all the answers

Why would it be improper to counsel a client planning fraudulent activities?

It contravenes professional ethics outlined in ABA Model Rules. Signup and view all the answers

What might be a reason to decline drafting a will for a friend who offers a substantial gift?

A lawyer should not accept gifts from clients. Signup and view all the answers

What should a lawyer consider before agreeing to draft a simple will for a friend?

The complexity of the legal issues involved in drafting the will. Signup and view all the answers

What is the probable outcome of the grandfather's will regarding his granddaughter's disinheritance?

The disinheritance is likely to be struck down as void. Signup and view all the answers

What ethical rule could apply when refusing to draft a will with substantial gifts involved?

ABA Model Rule 8.4 on professional misconduct. Signup and view all the answers

What risk might a lawyer face if they assist in a fraud, even if not a principal in it?

Liability for damages incurred by the fraud. Signup and view all the answers

How might current law protect a grandchild from being disinherited based on lifestyle choices?

By providing her a statutory right to an intestate share. Signup and view all the answers

Which of the following best describes the ethical obligation of a lawyer when offered a personal gift by a client?

The lawyer should decline to avoid any appearance of impropriety. Signup and view all the answers

What does the term 'Dead Hand' refer to in estate planning?

The legal power of a deceased person to control posthumous dispositions. Signup and view all the answers

What does 'cy pres' mean in the context of the grandfather's will?

A method by which some assets may be diverted to a more practical purpose. Signup and view all the answers

What could be the main reason for refusing to draft a will for a college friend offering a motorcycle?

It could lead to claiming undue influence in the will. Signup and view all the answers

What does the statement regarding Trusts & Estates law imply about its risk level compared to other legal practices?

It is a high-risk area with potential for malpractice claims. Signup and view all the answers

Which of the following may influence a court's decision regarding disinheritance based on lifestyle?

Public policy considerations safeguarding against discriminatory practices. Signup and view all the answers

In which scenario would the granddaughter likely not inherit under intestate succession?

If the grandfather left a legally valid will. Signup and view all the answers

What may happen to the $10,000 if the court invalidates the disinheritance according to 'cy pres' principles?

It could be redirected to Planned Parenthood. Signup and view all the answers

Which does a beneficiary designation form typically take priority over?

The will Signup and view all the answers

What happens if a patient loses medical decision-making capacity?

The designated medical power of attorney takes effect. Signup and view all the answers

In the scenario where a patient’s children disagree with the designated decision-maker, who typically has the authority to make the final decision?

The designated medical power of attorney Signup and view all the answers

What action should a doctor take if a patient experiences a medical emergency while under a power of attorney?

Follow the wishes of the designated decision-maker. Signup and view all the answers

What is most likely to occur if the children insist on aggressive treatment despite the neighbor's wishes?

The designated decision-maker's wishes take precedence. Signup and view all the answers

What typically governs the situation when there is a conflict over medical decisions involving a patient?

The state antilapse statute Signup and view all the answers

In cases of urgency, how should emergency medical staff proceed if there is a disagreement between family members and a designated decision-maker?

Follow the designated decision-maker’s instructions. Signup and view all the answers

Which is a common misconception about the role of a power of attorney in medical decisions?

A power of attorney can be overridden by immediate family. Signup and view all the answers

Study Notes

Will Disputes and Disinheritance

A grandfather, adhering to traditional values, disinherited his granddaughter who has a nontraditional lifestyle, citing her "lifestyle choices" (tattoos, smoking cigars, nose ring, Planned Parenthood involvement).
Likely outcome: A court will likely strike down the disinheritance as against public policy.

Trust & Estates Malpractice

The practice of Trusts & Estates law is a high-risk specialty, not a low-risk one.
Will substitutes (like beneficiary designations) often supersede wills if the will substitute is created before the death of the testator (will maker).

Medical Power of Attorney & End-of-Life Decisions

A patient with a dying illness, loses decision-making capacity, and a medical power of attorney designates a neighbor.
Patient's children wish for aggressive treatment (CPR), while the neighbor wishes for a peaceful death.
Dr. Rogers has a duty to provide treatment (CPR in this case) if the patient was not able to actively refuse it before the losing of capacity.

Building Family Wealth

Possible strategies for long-term family wealth building include:
- Living below one's means to invest.
- Using gifts to teach saving habits.
- Open communication on financial goals.
- Continuing financial education for all family members.

Inheritance of Non-Marital Children

Under modern law (e.g., the Uniform Probate Code), a non-marital child (like Jon Snow) can inherit if paternity is established, certain conditions are met (e.g., not expressly excluded in a will), and the will doesn't exclude non-marital children.
A will drafted before the child's birth can be challenged.

Ethical Considerations in Legal Practice

A lawyer should not assist in fraudulent activities.
Accepting a substantial gift in exchange for drafting a will is improper.

Drafting Wills and Gifts

Accepting a gift for drafting a will during/after specific events (example: After law school exams) is improper.
Drafting a simple will, even if the lawyer is experienced in the client's life, is improper, as it implies that the lawyer doesn't take ethical considerations.

Wealth Inequality in America

The average American family is not poorer now than it was during the American Revolution.
Median average is better than a mean average when measuring typical experience given that there are concentrations of wealth at extremes.

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Description

Test your knowledge on Will disputes, Trust and Estates malpractice, and medical power of attorney scenarios. This quiz covers essential legal concepts and ethical dilemmas in estate planning and decision-making at end-of-life. Explore how traditional values clash with modern lifestyles in inheritance matters.