FL Bar Wills, Trusts & Estates 2

Question 1

Under Florida's Uniform Trust Code (§736.0402), which elements are required to create a valid express trust?

Accepted Answer

Intent to create a trust, ascertainable beneficiaries, and identifiable trust property

Answer

A written document, notarization, and court approval

Answer

A trustee, a settlor signature, and registration with the state

Answer

Funding with real property and a recorded declaration

Question 2

Under Florida law, a revocable trust generally becomes irrevocable:

Accepted Answer

Upon the death of the settlor

Answer

When the trust is funded with real property

Answer

After three years from the date of creation

Answer

When the trustee formally accepts the trust

Question 3

Florida Statutes §736.0802 imposes a duty of loyalty on a trustee, requiring the trustee to:

Accepted Answer

Administer the trust solely in the interest of the beneficiaries

Answer

Maximize investment returns regardless of risk to principal

Answer

Follow the settlor's instructions even when contrary to beneficiary interests

Answer

Distribute trust assets equally among all named beneficiaries

Question 4

Under Florida's anti-lapse statute (§732.603), if a predeceased will beneficiary was a grandparent or a descendant of a grandparent of the testator, the gift:

Accepted Answer

Passes to the beneficiary's descendants by representation

Answer

Falls into the residuary estate

Answer

Passes to the testator's surviving spouse

Answer

Lapses entirely as if the beneficiary never existed

Question 5

Under Florida's Slayer Statute (§732.802), a person who feloniously and intentionally kills the decedent is:

Accepted Answer

Barred from inheriting any property or benefit from the decedent's estate

Answer

Barred only from named bequests in the will but not from intestate shares

Answer

Permitted to inherit if acquitted in criminal proceedings

Answer

Barred only from receiving life insurance proceeds

Question 6

Under Florida Statutes §733.702, a known creditor who is served with written notice of administration must file a claim within:

Accepted Answer

30 days after service of the written notice

Answer

3 months after first publication of notice to creditors

Answer

6 months after the decedent's date of death

Answer

1 year from issuance of letters of administration

Question 7

Under Florida Statutes §733.710, what is the absolute deadline for filing claims against a decedent's estate, regardless of notice or publication?

Accepted Answer

2 years from the date of death

Answer

3 years from the date of death

Answer

1 year from the date of death

Answer

5 years from the date of death