CLA/CP Exam CLA/CP Estate Planning and Probate Questions and Answers 2 — Questions and Answers
Question 1: Which type of trust becomes irrevocable upon the death of the grantor?
- Revocable living trust (Correct answer)
- Testamentary trust
- Totten trust
- Pour-over trust
Correct answer: Revocable living trust
A revocable living trust automatically becomes irrevocable when the grantor dies, as the person with the power to revoke it no longer exists.
Question 2: What is the primary purpose of a no-contest clause in a will?
- To discourage beneficiaries from challenging the will (Correct answer)
- To prevent the executor from modifying distributions
- To ensure equal distribution among heirs
- To waive the probate filing requirement
Correct answer: To discourage beneficiaries from challenging the will
A no-contest clause, also called an in terrorem clause, discourages will contests by providing that a beneficiary who challenges the will forfeits their inheritance.
Question 3: Under the Uniform Probate Code, what is the surviving spouse's elective share percentage of the augmented estate after 15 or more years of marriage?
- 50 percent (Correct answer)
- 100 percent
- 33 percent
- 25 percent
Correct answer: 50 percent
Under the UPC's sliding scale for elective share, a surviving spouse married 15 or more years is entitled to 50 percent of the augmented estate.
Question 4: Which document allows a person to designate someone to make healthcare decisions on their behalf if they become incapacitated?
- Healthcare power of attorney (Correct answer)
- Durable financial power of attorney
- Living will
- Advance directive for mental health
Correct answer: Healthcare power of attorney
A healthcare power of attorney specifically authorizes an agent to make medical decisions for the principal when the principal cannot do so.
Question 5: What is the legal term for a gift of real property made through a will?
- Devise (Correct answer)
- Bequest
- Legacy
- Ademption
Correct answer: Devise
A devise is the legal term for a testamentary gift of real property, while bequest and legacy refer to gifts of personal property.
Question 6: In probate proceedings, what is the role of a personal representative who was not named in the will but appointed by the court?
- Administrator (Correct answer)
- Executor
- Trustee
- Guardian ad litem
Correct answer: Administrator
An administrator is a court-appointed personal representative who serves when no executor was named in the will or when there is no valid will.
CLA/CP Exam CLA/CP Estate Planning and Probate Questions and Answers 2
Which type of trust becomes irrevocable upon the death of the grantor?