If Property That Specifically Is Bequeathed or Devised in a Will

question 19

Multiple Choice

If property that specifically is bequeathed or devised in a will is not owned by the testator at death, the gift is

• A) a lapsed legacy or devise.
• B) adeemed by extinction.
• C) adeemed by satisfaction.
• D) exempt property.

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Definitions:

Planning

The process of setting goals, developing strategies, and outlining tasks and schedules to achieve those goals.

Time Slot

A specific period of time allocated for a particular activity or event.

Ratio

A mathematical expression that represents the quantitative relationship between two numbers, showing how many times one value contains or is contained by the other.

Organization's Resources

Assets, capabilities, and other valuables owned or utilized by an organization for the purpose of maintaining operations and achieving its objectives.