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?

<p>Highly concentrated among a small percentage (D)</p> Signup and view all the answers

How does the concentration of wealth affect economic discussions?

<p>It complicates understanding of average wealth (C)</p> Signup and view all the answers

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

<p>Living below one's means to invest for growth (C)</p> Signup and view all the answers

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

<p>Teaching them to save instead of spend windfalls (B)</p> Signup and view all the answers

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

<p>Most families have less wealth today (B)</p> Signup and view all the answers

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

<p>It allows for better alignment and cooperation towards shared financial objectives (B)</p> Signup and view all the answers

What is the effect of extreme wealth on mean averages?

<p>It skews them higher (C)</p> Signup and view all the answers

Why is continuing financial education important in a family setting?

<p>To prepare younger members for financial responsibilities (C)</p> Signup and view all the answers

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

<p>A median (A)</p> 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?

<p>His paternity under certain statutory conditions (B)</p> Signup and view all the answers

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

<p>Jon cannot inherit unless he establishes paternity (D)</p> Signup and view all the answers

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

<p>Omitted nonmarital children can challenge a will if paternity is established (A)</p> Signup and view all the answers

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

<p>The right of the eldest child to inherit family property (D)</p> Signup and view all the answers

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

<p>Establishment of paternity (C)</p> Signup and view all the answers

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

<p>If he meets certain statutory conditions (A)</p> Signup and view all the answers

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

<p>The slayer statute (B)</p> Signup and view all the answers

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

<p>Jon can still inherit if he establishes paternity (C)</p> Signup and view all the answers

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

<p>If Jon cannot establish paternity (C)</p> Signup and view all the answers

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

<p>Any child, including nonmarital children, as long as paternity is established (B)</p> Signup and view all the answers

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

<p>Whether Jon can establish his relationship to Stark (D)</p> Signup and view all the answers

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

<p>The slayer statute (D)</p> Signup and view all the answers

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

<p>It creates a conflict of interest. (B)</p> Signup and view all the answers

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

<p>It contravenes professional ethics outlined in ABA Model Rules. (A)</p> Signup and view all the answers

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

<p>A lawyer should not accept gifts from clients. (A)</p> Signup and view all the answers

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

<p>The complexity of the legal issues involved in drafting the will. (A)</p> Signup and view all the answers

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

<p>The disinheritance is likely to be struck down as void. (A)</p> Signup and view all the answers

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

<p>ABA Model Rule 8.4 on professional misconduct. (D)</p> 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?

<p>Liability for damages incurred by the fraud. (A)</p> Signup and view all the answers

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

<p>By providing her a statutory right to an intestate share. (D)</p> 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?

<p>The lawyer should decline to avoid any appearance of impropriety. (B)</p> Signup and view all the answers

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

<p>The legal power of a deceased person to control posthumous dispositions. (A)</p> Signup and view all the answers

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

<p>A method by which some assets may be diverted to a more practical purpose. (A)</p> 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?

<p>It could lead to claiming undue influence in the will. (A)</p> Signup and view all the answers

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

<p>It is a high-risk area with potential for malpractice claims. (A)</p> Signup and view all the answers

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

<p>Public policy considerations safeguarding against discriminatory practices. (D)</p> Signup and view all the answers

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

<p>If the grandfather left a legally valid will. (A)</p> Signup and view all the answers

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

<p>It could be redirected to Planned Parenthood. (A)</p> Signup and view all the answers

Which does a beneficiary designation form typically take priority over?

<p>The will (B)</p> Signup and view all the answers

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

<p>The designated medical power of attorney takes effect. (C)</p> 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?

<p>The designated medical power of attorney (B)</p> 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?

<p>Follow the wishes of the designated decision-maker. (B)</p> Signup and view all the answers

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

<p>The designated decision-maker's wishes take precedence. (B)</p> Signup and view all the answers

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

<p>The state antilapse statute (D)</p> 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?

<p>Follow the designated decision-maker’s instructions. (B)</p> Signup and view all the answers

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

<p>A power of attorney can be overridden by immediate family. (D)</p> Signup and view all the answers

Flashcards

Will

A legal document that outlines how a person's assets will be distributed after their death.

Nonmarital Child

A child born outside of marriage.

Omitted Child

A legal doctrine that allows a child who was unintentionally omitted from a will to inherit a share of the deceased parent's estate.

Slayer Statute

The legal principle that prevents a person from inheriting from the estate of someone they killed.

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Uniform Probate Code (UPC)

A standardized set of laws governing wills and probate.

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UPC § 2-302

A specific section within the Uniform Probate Code that deals with omitted children.

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Child (as Defined by UPC)

A person legally recognized as a child of someone, regardless of biological connection.

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Heir

A person who inherits the estate of the deceased.

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Wishes of the Dead Hand

A legal concept where the deceased's wishes are carried out even if they seem unjust or against public policy.

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Void as Against Public Policy

The legal principle of striking down provisions in a will that violate public policy (like discriminating based on sexual orientation).

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Electing Against the Will

The granddaughter's right to receive a portion of the grandfather's estate, even if she's disinherited, if the state's law permits it.

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Cy Pres

A legal doctrine where a court modifies a will to reflect the testator's intent when the original intent is impossible to carry out.

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Trusts & Estates Law

A legal practice area focused on estate planning, wills, trusts, and probate.

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Legal Malpractice

When a legal professional fails to meet the required standard of care, leading to harm or loss.

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Legal Ethics

The ethical standards and principles that guide the conduct of lawyers.

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High-Risk Specialty

The statement that trusts & estates law is considered a high-risk practice due to potential for malpractice and ethical violations.

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American family wealth today vs. 1776

The amount of money a typical American family has now is significantly higher compared to the American Revolution era.

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Mean average

An average calculated by adding all values and dividing by the number of values.

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Median average

An average calculated by arranging values in order and finding the middle value.

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Wealth concentration

A situation where a small portion of the population holds a large amount of wealth, while the majority has less.

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Wealth concentration & typical American

The median average is more representative of a typical American's experience when wealth is concentrated.

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Average best reflecting typical experience

The average that best reflects the general experience of a population, especially when dealing with concentrated wealth.

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Average American family wealth

The statement that the average American family is poorer today than in 1776 is incorrect.

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Wealth concentration and average income

Concentration of wealth in the United States affects how we understand average income and its representation of the typical American.

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Can a lawyer assist in fraud?

A lawyer cannot advise or assist in a fraudulent business activity. Doing so is unethical and violates professional rules.

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Can a lawyer accept a gift from a client?

A lawyer cannot accept substantial gifts from clients in exchange for legal services. This is unethical and creates a conflict of interest.

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Should a lawyer join a client's business?

Lawyers must avoid situations where they are personally involved in a client's business.

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What's an ethical risk in drafting a will for a close friend?

Drafting a will for a friend who is also leaving you a substantial gift poses an ethical risk due to the potential for conflict of interest.

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What is part of the lawyer's responsibility?

Lawyers are required to be competent and knowledgeable about the law. This includes understanding basic estate planning principles.

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Is drafting a will for a close friend always okay ethically?

Drafting a will requires careful consideration of all relevant factors, including the client's relationship with the lawyer. Doing so for a close friend may be ethically questionable.

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Why are legal ethics rules important?

The ethical rules governing legal practice are designed to ensure that lawyers maintain professionalism and uphold the integrity of the legal system.

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What are some sources of legal ethics rules?

Legal ethics rules, like those from the American Bar Association, guide lawyers on proper conduct and clarify what is acceptable and unacceptable behavior.

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Living Below One's Means

Living within your means allows you to save money, providing capital to invest for long-term growth. This approach is crucial for building wealth progressively over time.

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Teaching Children to Save

Using gifts from relatives as a learning tool emphasizes the importance of saving over spending, fostering positive financial habits in children.

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Strong Inter-Familial Communication

Open and honest communication about financial goals and plans within a family promotes understanding, cooperation, and a shared vision for wealth building.

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Continuing Financial Education

Ongoing financial education empowers family members to make informed financial decisions, especially for young generations who are still acquiring knowledge.

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Nonmarital Child Inheritance

A nonmarital child, under modern law, may still inherit from their parent if certain conditions are met and paternity is established.

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Omitted Child Inheritance

Under the Uniform Parentage Act (UPA), if a will doesn't include a nonmarital child and certain conditions are met, the child may still be considered an "omitted child" and may inherit.

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Primogeniture and Nonmarital Children

The right of primogeniture, which historically granted inheritance to the firstborn child, does not automatically apply to nonmarital children under the UPC or Restatement.

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Inheritance under Intestacy

If a father dies intestate (without a will), a nonmarital child may not inherit, even if paternity is established, unless specific legal provisions are applicable in the relevant jurisdiction.

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Will vs. Will Substitute: Which Takes Priority?

In legal situations, the will, or a person's final wishes outlined in a will, typically takes precedence over other instructions, such as a will substitute, when determining how assets should be distributed.

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What is a Medical Power of Attorney?

A document that outlines a person's wishes regarding their medical treatment, such as who should make decisions on their behalf, is known as a medical power of attorney.

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Decision-Making Capacity: Who Makes Medical Choices?

When a person loses the capacity to make decisions about their own medical care, a designated decision-maker, often named in a medical power of attorney, must take the lead in making choices about treatment.

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POA vs. Will: Which Takes Priority (Medical Decisions)?

A medical power of attorney (POA) can be a will substitute in the context of medical decisions. If the patient has a POA, the wishes of the designated decision-maker in the POA will likely override any instructions in the will.

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Family Disputes and Medical Power of Attorney

If a patient has a medical power of attorney, the designated decision-maker has legal authority to make medical choices, even if the patient's family members disagree.

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Doctor's Duty to Treat and CPR Decisions

Doctors have a legal and ethical duty to provide appropriate medical care to their patients, even in dire situations. They may be obligated to provide life-saving treatments like CPR, even if a patient's decision-maker objects.

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Conflict Resolution: Doctor Follows Legal Authority

Even if there's a conflict between a patient's family and a designated decision-maker (POA), the doctor must ultimately follow the legal directives of the decision-maker.

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Doctor's Responsibility: Patient's Best Interest

The doctor must act in the best interest of the patient, even if it means going against the wishes of the family members, IF the designated decision-maker's wishes are consistent with legal guidelines and the patient's best interest.

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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.
  • 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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Pretest Study Quiz - 202408-LAW-716-002 PDF

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.

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