CLA/CP Estate Planning and Probate 1 Flashcards

In estate distribution, what does the term 'per stirpes' mean?

Answer: A deceased beneficiary's share passes proportionally to their descendants

Per stirpes (Latin for 'by the roots') means that if a beneficiary predeceases the testator, that beneficiary's share passes down to their lineal descendants in equal shares, rather than being redistributed among the surviving beneficiaries.

Which of the following is a distinguishing characteristic of a holographic will?

Answer: It is entirely handwritten and signed by the testator, with no witness requirement in states that recognize it

A holographic will is one written entirely in the testator's own handwriting and signed by the testator. In jurisdictions that recognize holographic wills, witness signatures are not required, which distinguishes it from a formally attested will.

What are 'letters testamentary' in the probate process?

Answer: Court-issued documents that authorize the personal representative to act on behalf of the decedent's estate

Letters testamentary are official documents issued by the probate court upon admission of the will, granting the named executor (personal representative) the legal authority to collect assets, pay debts, and distribute the estate.

What is the doctrine of 'ademption' in estate law?

Answer: The failure of a specific bequest because the bequeathed property no longer exists in the testator's estate at death

Ademption occurs when specifically bequeathed property has been sold, destroyed, or otherwise disposed of before the testator's death, causing that particular gift to fail. The beneficiary generally receives nothing in its place unless the will or statute provides otherwise.

What is the primary function of a pour-over will?

Answer: To direct that any assets outside the trust at the testator's death be transferred into a pre-existing revocable living trust

A pour-over will acts as a safety net alongside a revocable living trust. Any assets the testator forgot to transfer into the trust during life are 'poured over' into the trust at death via the will, ensuring a unified administration and distribution plan.

Which of the following is NOT one of the traditional four elements required to establish testamentary capacity?

Answer: Obtaining written approval of the will's terms from the primary beneficiaries

Testamentary capacity requires that the testator (1) understand the nature of making a will, (2) know the general extent of their property, (3) recognize the natural objects of their bounty, and (4) understand how these elements relate to form a plan of distribution. Beneficiary approval is not a legal requirement and would undermine the testator's autonomy.