Future Business Leaders of America (FBLA) Business Law Practice Exam

What is meant by "testamentary intent"?

1. The intention to create a legally binding business contract

2. The intention that the document is meant to be a last will and testament

3. The intention to revoke an existing will

4. The intent to transfer property rights

The correct answer is: The intention that the document is meant to be a last will and testament

Testamentary intent refers specifically to the intention of a person regarding the creation of a last will and testament. This legal concept signifies that the individual intends for the document in question to serve as their will, outlining how their estate and assets should be distributed upon their death. For a document to be recognized as a valid will, it must reflect the clear intention of the testator (the person making the will) to make arrangements for their heirs and beneficiaries. This intent is crucial, as it helps courts determine a person's wishes regarding their estate, especially in cases where there may be disputes among potential heirs or challenges to the validity of the will. Testamentary intent must be evidenced by the language used in the document and the overall context surrounding its creation. In contrast, other options do not accurately capture the essence of testamentary intent. For instance, the notion of creating a legally binding business contract or revoking an existing will relates to different legal concepts entirely, and the intent to transfer property rights could apply to various legal situations unrelated to the making of a will.