Wills and Estates Planning

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  1. ______ is the plural term for female Executors.
  2. A legal document amending a will is called a _____.
  3. If a _____ or spouse of a _____witnesses a will, the gift is _____.
    • Beneficiary
    • Beneficiary
    • Void
  4. A man who makes a will is called a _____. A woman who makes a will is called a _____.
    • Testator
    • Testatrix
  5. A handwritten will that is not witnessed is called a ______ will.
  6. Your provincial _____ stipulates the restrictions on who can make a will.
    Wills Act
  7. What is necessary that a testator has to have to start up a will?
    Sound Mind
  8. Who makes up the POA?
  9. Who makes up the PD?
  10. Who makes up the will?
  11. When we inventory an estate, the inventory is valued as of what date?
    Date of Death
  12. What do we call a handwritten will?
    Holographic will
  13. Is a holographic will valid in Alberta?
    Yes, must be handwritten & signed by testator, must be dated & signed by 2 witnesses.
  14. Each time someone makes a new will, the old one is revoked. Should be a revocation clause in the new will, though sometimes their isnt. True or False?
  15. The revocation clause revokes what?
    Old wills & codicils.
  16. What are the parts of a POA?
    • - Immediate = When you sign it, it immediately takes effect.
    • - Springing = When the conditions in a POA are fulfilled for it to be taken into effect.
  17. Enduring Power of Attorney has no what?
  18. The What looks after a minor child in the will?
  19. Sometimes minor children are called what?
  20. What is issue?
    All lineal descendents. Ex. Children, grand children & great grand children.
  21. Intestate Succestion Act (ISA) is what?
    it dictates who gets what when the person dies intestate.
  22. When a single person makes a will & gets married, what happens to the will?
    They would have to make a new one, because marriage automatically revokes a will.
  23. In contemplation of marriage
    Ex. "In contemplation of my marriage to Susan Clarke, I am leaving half of my estate to Susan Clarke provided that we are married at the time of my death."
  24. What is the legal reason why a will can be contested?
    According to the Dependence Relief Act (DRA), the wife and all children need to be taken care of.
  25. How do we make sure that a will that is not entirely clear, but it was signed, dated and witnessed all correctly but it doesn't make sense, or seems to give away something twice?
    Surrogate Court
  26. What governs Surrogate Court?
    Surrogate Rules
  27. The Surrogate Rules contains what?
    • - Guidelines on how to interpret the will.
    • - The probate forms.
  28. Surrogate Court is the same as what?
    Probate Court
  29. We might post a bond to make sure there is enough money to cover the will it is a surety or guarantee
  30. If there is no designated trustee for a trust account set up in a will, the court will appoint a public trustee.
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Wills and Estates Planning
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