CP Probate & Estate Administration 2

Question 1

What is a holographic will under California Probate Code §6111?

Accepted Answer

A will entirely handwritten and signed by the testator without witnesses

Answer

A holographic will is valid in California when the material provisions and the signature are in the testator's own handwriting; no witnesses are required.

Question 2

What is the primary advantage of using a revocable living trust in California estate planning?

Accepted Answer

It allows estate assets to pass to beneficiaries without going through probate

Answer

A revocable living trust allows trust assets to transfer directly to beneficiaries upon the grantor's death, bypassing the time and expense of the court-supervised probate process.

Question 3

What is the purpose of a 'pour-over will' in California estate planning?

Accepted Answer

To transfer any assets not held in the trust at death into the trust

Answer

A pour-over will directs that any assets not already titled in the trust at death be 'poured over' into the trust, ensuring all assets are governed by the trust's terms.

Question 4

Under California Probate Code, what is the role of the court-appointed probate referee?

Accepted Answer

To appraise the fair market value of estate assets as of the date of death

Answer

A probate referee is a court-appointed appraiser responsible for determining the fair market value of most estate assets as of the decedent's date of death.

Question 5

What is a conservatorship under California Probate Code?

Accepted Answer

A court-supervised arrangement protecting an incapacitated adult's person and/or finances

Answer

A conservatorship is established by the probate court to appoint a conservator who manages the personal care and/or financial affairs of an adult who can no longer do so independently due to incapacity.

(CP) California Certified Paralegal Practice Test

(CP) California Certified Paralegal Practice Test

CP Probate & Estate Administration 2