Chapter 1, Problem 7SYPS

A will has the following statement: “I leave $20,000 cash from my savings account in the Central Fidelity Bank to my sister, Angela.” This gift is an example of: Choose the correct.a. A residual legacy.b. A general legacy.c. A demonstrative legacy.d. A specific legacy.

A will is a legal document outlining the plan for one’s: Group of answer choices -goals of the survivors. -funeral plan and costs. -management of assets. -payment of estate taxes. -disposition of assets.

Which of the following statements are correct regarding the purpose and characteristics of a nuncupative will? A nuncupative will is one whose material provisions are written entirely in the testator's handwriting. A nuncupative will requires at least one witness. State law may limit the types and amounts of property that may be distributed by this form of will. This form of will is recognized in most states.   A)I and II   B)I, II, and IV   C)III and IV   D)II and III