CP Probate & Estate Administration 2 — Questions and Answers
Question 1: What is a holographic will under California Probate Code §6111?
- A will witnessed and notarized by a notary public
- A will entirely handwritten and signed by the testator without witnesses (Correct answer)
- A will created on a standardized printed form
- A will that must be filed with the court during the testator's lifetime
Correct answer: A will entirely handwritten and signed by the testator without witnesses
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?
- It eliminates all state and federal estate taxes
- It allows estate assets to pass to beneficiaries without going through probate (Correct answer)
- It requires court supervision to ensure proper distribution
- It automatically voids all creditor claims
Correct answer: It allows estate assets to pass to beneficiaries without going through probate
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?
- To transfer any assets not held in the trust at death into the trust (Correct answer)
- To create a brand-new trust immediately upon the testator's death
- To distribute assets equally among all surviving heirs
- To contest the validity of an existing living trust
Correct answer: To transfer any assets not held in the trust at death into the trust
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?
- To represent the legal interests of minor beneficiaries
- To appraise the fair market value of estate assets as of the date of death (Correct answer)
- To audit the estate's income tax returns
- To mediate disputes between heirs and creditors
Correct answer: To appraise the fair market value of estate assets as of the date of death
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?
- A court-supervised arrangement protecting an incapacitated adult's person and/or finances (Correct answer)
- A trust created to manage assets for a minor beneficiary
- A durable power of attorney granted by a family member
- A guardianship arrangement for a child under age 18
Correct answer: A court-supervised arrangement protecting an incapacitated adult's person and/or finances
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.
Question 6: In California, what document allows a person to designate an agent to make health care decisions if they become incapacitated?
- Durable Power of Attorney for Finances
- Advance Health Care Directive (Correct answer)
- Revocable Living Trust
- Creditor's Claim Form
Correct answer: Advance Health Care Directive
An Advance Health Care Directive designates a health care agent and/or states the person's wishes regarding medical treatment, and remains effective during incapacity.
Question 7: Under California Probate Code §9100, what is the general creditor claim period after the personal representative mails notice to a known creditor?
- 30 days
- 60 days (Correct answer)
- 90 days
- 120 days
Correct answer: 60 days
Under California Probate Code §9100, a known creditor generally has 60 days from the date the notice is mailed or personally delivered to file a creditor's claim against the estate.
CP Probate & Estate Administration 2
What is a holographic will under California Probate Code §6111?