Will Jones Has Created a Will That Leaves Everything to His

question 2

Multiple Choice

Will Jones has created a will that leaves everything to his wife except an exemption amount of $2 million.This exemption amount passes into a trust.What type of will has Will created?

• A)Simple
• B)Traditional marital share
• C)Exemption trust
• D)Stated dollar amount
• E)Living

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Definitions:

Ordinary Care

The degree of care that a reasonably prudent person would exercise under similar circumstances to avoid harm to themselves or property.

Impostor

An individual who deceitfully pretends to be someone else in order to gain a benefit or deceive others.

Restrictive Indorsement

A condition placed on the transfer of a negotiable instrument that limits its use or payment to a specific purpose or party.

Converted

Refers to the change of something from one form or function to another, such as converting securities into another type of financial asset.