NALA Estate Planning and Probate 2

Question 1

A testator executes a holographic will entirely in their own handwriting but later types and signs a codicil. In most states, the codicil:

Accepted Answer

Can be valid as a formal attested codicil if properly witnessed

Answer

A typed codicil to a holographic will can be valid as a formally attested codicil if it meets the jurisdiction's witness requirements.

Question 2

Under the Uniform Probate Code, an interested person who receives proper notice of a probate proceeding but fails to object within the statutory period is said to be:

Accepted Answer

Bound by the formal adjudication under the in rem principle

Answer

Under the UPC, formal testacy orders are in rem and bind all interested parties who received proper notice, even those who did not appear.

Question 3

A 'pour-over will' is best described as a will that:

Accepted Answer

Transfers probate assets into an existing revocable living trust at death

Answer

A pour-over will directs that probate assets be transferred into the testator's pre-existing revocable living trust upon death.

Question 4

Which of the following best describes the duty of 'impartiality' owed by a trustee?

Accepted Answer

Balancing the competing interests of current income beneficiaries and remainder beneficiaries

Answer

The duty of impartiality requires the trustee to act fairly toward all beneficiaries, balancing the interests of income beneficiaries against those of remainder beneficiaries.

Question 5

An estate's personal representative discovers that the decedent's only asset is a joint tenancy bank account with a right of survivorship. The representative should:

Accepted Answer

Recognize the account passes outside of probate to the surviving joint tenant

Answer

Joint tenancy with right of survivorship is a non-probate transfer; the asset passes automatically to the surviving tenant outside of the probate estate.

(NALA) National Association of Legal Assistants Certification Practice Test

(NALA) National Association of Legal Assistants Certification Practice Test

NALA Estate Planning and Probate 2