CT Legal & Financial Aspects of Death Flashcards

Which of the following is NOT typically addressed in an advance directive?

Answer: Distribution of financial assets to heirs

Advance directives address healthcare decisions only; financial asset distribution is handled separately through a will or trust.

A POLST (Physician Orders for Life-Sustaining Treatment) form differs from a living will primarily because it is:

Answer: A physician-signed medical order that is immediately actionable in any care setting

Unlike a living will which is a patient directive, a POLST is a physician's medical order that care providers can act upon immediately without further interpretation.

Life insurance proceeds paid to a named beneficiary are generally:

Answer: Paid directly to named beneficiaries, bypassing probate entirely

Life insurance proceeds pass directly to named beneficiaries outside of probate, regardless of the will's contents, because of the beneficiary designation contract.

Which legal document establishes an arrangement where a trustee manages assets on behalf of designated beneficiaries?

Answer: Trust

A trust is a legal arrangement in which a trustee holds and manages assets for the benefit of designated beneficiaries, often avoiding probate.

What is the primary purpose of comprehensive estate planning in end-of-life contexts?

Answer: To ensure a person's wishes for both asset distribution and healthcare decisions are honored

Estate planning encompasses both financial asset distribution and healthcare directives to ensure the full range of a person's end-of-life wishes are honored.

Regarding Social Security survivor benefits, what is the recommended action following a beneficiary's death?

Answer: Notify the SSA promptly to prevent overpayments that must be returned

While no strict statutory deadline exists for death notification, prompt reporting to the SSA prevents overpayments that survivors must return and allows timely processing of survivor benefits.