Wills – NBC Institute

TAX – Nov 2020 – L1 – SA – Q18 – Taxation of Trusts and Estates

Identify the term used for a person receiving real property under a Will.

Question

The person who receives a real property under a Will is a:
A. Legatee
B. Remainder man
C. Personal representative
D. Annuitant

Answer

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Tags: Inheritance, Real Property, Trusts and Estates, Wills
Level: Level 1

Topic: Taxation of Trusts and Estates
Series: NOV 2020

BL – Nov 2011 – L1 – SA – Q14 – Law of Trusts

Identifying the document used to add, cancel, or alter provisions in a will.

Question

Any supplementary clause attached or referring to a Will with the object of adding or cancelling or altering the provisions of the Will is a …………………………………….

Answer

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Tags: Codicil, Trust Law, Wills
Level: Level 1

Topic: Law of Trusts
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q11 – Law of Trusts

Identifying the person who makes a will.

Question

The maker of a Will is called ………………………………

Answer

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Tags: Testator, Trust Law, Wills
Level: Level 1

Topic: Law of Trusts
Series: NOV 2011

BL – Nov 2012 – L1 – SA – Q19 – Law of Trusts

Identify the minimum number of persons required to witness a will.

Question

What is the minimum number of persons who must attest a will as witness(es)?

Answer

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Tags: Attestation, Wills, Witnesses
Level: Level 1

Topic: Law of Trusts
Series: NOV 2012

BL – May 2014 – L1 – SA – Q19 – Law of Trusts

Identifying circumstances under which a will may be revoked.

Question

A will may be revoked by:
A. A Codicil
B. Death of the testator
C. Insanity of the testator
D. Bankruptcy of the testator
E. Accidental destruction

Answer

Find Related Questions by Tags, levels, etc.

Tags: Revocation, Trust Law, Wills
Level: Level 1

Topic: Law of Trusts
Series: MAY 2014

BL – May 2018 – L1 – SA – Q19 – Law of Trusts

Identify the legal term for the maker of a will.

Question

The maker of a will is known as
A. Testator
B. Magistrate
C. Executor
D. Judge
E. Personal Representative

Answer

Find Related Questions by Tags, levels, etc.

Tags: Estates, Legal Documentation, Wills
Level: Level 1

Topic: Law of Trusts
Series: MAY 2018

BL – May 2024 – L1 – SB – Q1c – Law of Contract

Explain two situations that warrant the need to apply for letters of administration.

Question

The persons that desire to manage the estate of a deceased person may need to apply for letters of administration.
Required:
Explain TWO situations that could warrant the need to apply for letters of administration. (6 Marks)

Answer

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Tags: Estates, Letters of Administration, Succession, Wills
Level: Level 1

Topic: Contract Law
Series: MAY 2024

AT – Nov 2015 – L3 – Q3c – Business income – Corporate income tax

Explanation of the tax implication of a land gifted under a will.

Question

Kwame Patapaa has written in his Will that a parcel of land located in Kasoa should be given to his friend Adongo Muda upon his death in his Will. He is, however, not sure of the tax implication of this transaction and has approached you for assistance in this direction.

Required:
Detail out your response to this question.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Gift tax, Land, Tax Exemptions, Wills
Level: Level 3

Topic: Business income - Corporate income tax
Series: NOV 2015

TAX – Nov 2020 – L1 – SA – Q18 – Taxation of Trusts and Estates

Identify the term used for a person receiving real property under a Will.

Question

The person who receives a real property under a Will is a:
A. Legatee
B. Remainder man
C. Personal representative
D. Annuitant

Answer

Find Related Questions by Tags, levels, etc.

Tags: Inheritance, Real Property, Trusts and Estates, Wills
Level: Level 1

Topic: Taxation of Trusts and Estates
Series: NOV 2020

BL – Nov 2011 – L1 – SA – Q14 – Law of Trusts

Identifying the document used to add, cancel, or alter provisions in a will.

Question

Any supplementary clause attached or referring to a Will with the object of adding or cancelling or altering the provisions of the Will is a …………………………………….

Answer

Find Related Questions by Tags, levels, etc.

Tags: Codicil, Trust Law, Wills
Level: Level 1

Topic: Law of Trusts
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q11 – Law of Trusts

Identifying the person who makes a will.

Question

The maker of a Will is called ………………………………

Answer

Find Related Questions by Tags, levels, etc.

Tags: Testator, Trust Law, Wills
Level: Level 1

Topic: Law of Trusts
Series: NOV 2011

BL – Nov 2012 – L1 – SA – Q19 – Law of Trusts

Identify the minimum number of persons required to witness a will.

Question

What is the minimum number of persons who must attest a will as witness(es)?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Attestation, Wills, Witnesses
Level: Level 1

Topic: Law of Trusts
Series: NOV 2012

BL – May 2014 – L1 – SA – Q19 – Law of Trusts

Identifying circumstances under which a will may be revoked.

Question

A will may be revoked by:
A. A Codicil
B. Death of the testator
C. Insanity of the testator
D. Bankruptcy of the testator
E. Accidental destruction

Answer

Find Related Questions by Tags, levels, etc.

Tags: Revocation, Trust Law, Wills
Level: Level 1

Topic: Law of Trusts
Series: MAY 2014

BL – May 2018 – L1 – SA – Q19 – Law of Trusts

Identify the legal term for the maker of a will.

Question

The maker of a will is known as
A. Testator
B. Magistrate
C. Executor
D. Judge
E. Personal Representative

Answer

Find Related Questions by Tags, levels, etc.

Tags: Estates, Legal Documentation, Wills
Level: Level 1

Topic: Law of Trusts
Series: MAY 2018

BL – May 2024 – L1 – SB – Q1c – Law of Contract

Explain two situations that warrant the need to apply for letters of administration.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Estates, Letters of Administration, Succession, Wills
Level: Level 1

Topic: Contract Law
Series: MAY 2024

AT – Nov 2015 – L3 – Q3c – Business income – Corporate income tax

Explanation of the tax implication of a land gifted under a will.

Question

Required:
Detail out your response to this question.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Gift tax, Land, Tax Exemptions, Wills
Level: Level 3

Topic: Business income - Corporate income tax
Series: NOV 2015

Question Tag: Wills

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TAX – Nov 2020 – L1 – SA – Q18 – Taxation of Trusts and Estates

Identify the term used for a person receiving real property under a Will.

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BL – Nov 2011 – L1 – SA – Q14 – Law of Trusts

Identifying the document used to add, cancel, or alter provisions in a will.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q14 – Law of Trusts"

BL – Nov 2011 – L1 – SA – Q11 – Law of Trusts

Identifying the person who makes a will.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q11 – Law of Trusts"

BL – Nov 2012 – L1 – SA – Q19 – Law of Trusts

Identify the minimum number of persons required to witness a will.

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BL – May 2014 – L1 – SA – Q19 – Law of Trusts

Identifying circumstances under which a will may be revoked.

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BL – May 2018 – L1 – SA – Q19 – Law of Trusts

Identify the legal term for the maker of a will.

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BL – May 2024 – L1 – SB – Q1c – Law of Contract

Explain two situations that warrant the need to apply for letters of administration.

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AT – Nov 2015 – L3 – Q3c – Business income – Corporate income tax

Explanation of the tax implication of a land gifted under a will.

You're reporting an error for "AT – Nov 2015 – L3 – Q3c – Business income – Corporate income tax"

TAX – Nov 2020 – L1 – SA – Q18 – Taxation of Trusts and Estates

Identify the term used for a person receiving real property under a Will.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q18 – Taxation of Trusts and Estates"

BL – Nov 2011 – L1 – SA – Q14 – Law of Trusts

Identifying the document used to add, cancel, or alter provisions in a will.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q14 – Law of Trusts"

BL – Nov 2011 – L1 – SA – Q11 – Law of Trusts

Identifying the person who makes a will.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q11 – Law of Trusts"

BL – Nov 2012 – L1 – SA – Q19 – Law of Trusts

Identify the minimum number of persons required to witness a will.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q19 – Law of Trusts"

BL – May 2014 – L1 – SA – Q19 – Law of Trusts

Identifying circumstances under which a will may be revoked.

You're reporting an error for "BL – May 2014 – L1 – SA – Q19 – Law of Trusts"

BL – May 2018 – L1 – SA – Q19 – Law of Trusts

Identify the legal term for the maker of a will.

You're reporting an error for "BL – May 2018 – L1 – SA – Q19 – Law of Trusts"

BL – May 2024 – L1 – SB – Q1c – Law of Contract

Explain two situations that warrant the need to apply for letters of administration.

You're reporting an error for "BL – May 2024 – L1 – SB – Q1c – Law of Contract"

AT – Nov 2015 – L3 – Q3c – Business income – Corporate income tax

Explanation of the tax implication of a land gifted under a will.

You're reporting an error for "AT – Nov 2015 – L3 – Q3c – Business income – Corporate income tax"

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