CHAPTER 9: PROBATE AND ESTATE ADMINISTRATION
MATCHING
a.interestedparties
b.independentadministration
c.“qualified smallestate”
d.summaryadministration
e.petition for administration
f.citation
g.federal employer identificationnumber
h.inventory
i.cause of action
j.appraisal
1. A court order that fixes a date, time, and place for hearing the petition to prove a will or for administration; the petitioner is required to give notice of the hearing to all interested persons
2.The right of a person to commence alawsuit
3.Beneficiaries or heirs and creditors of thedecedent
4.A form of administration that is generally limited to small estates that have survivors, which include a spouse and minor children, and insufficient assets to pay allcreditors
5.A filing with the court that a person seeking appointment as personal representative uses when there is nowill
6.A complete physical check of all probate assets owned by the decedent and a detailed listing of these and their estimated fair market value at the time of the decedent’sdeath
7.Aformofestateadministrationusedinafewstatesthatisessentiallyfreeofcourtsupervisionorintervention
8.A market-based valuation of a decedent’s real or personal property by a recognized expert
9.An identification of the fiduciary responsible for preparing the fiduciary income tax return and for paying any taxdue
10.An estate that consists entirely of statutorily exempt property or allowances and funeral and administration expenses and is within a certain limited monetaryvalue
TRUE/FALSE
1.Probate and estate administration are the only methods of settling anestate.
2.Summary Administration is allowed for certain smallestates.
3. Under the Uniform Probate Code (UPC), formal probate is conducted under the supervision of a judge without notice to interested persons.
4. All states are required to adopt the Uniform Probate Code (UPC).
5.Prior to a hearing, a paralegal might be asked to assemble data on nonprobateproperty.
6.Creditors can contest a will, but they cannot challenge the appointment of a personalrepresentative.
7.A personal representative is required to file for a Federal Employer IdentificationNumber.
8.If a decedent leaves real property in another state, the paralegal will need to check the foreign state’s statutes to determine the qualifications and residency requirements of the ancillaryadministrator.
9.When transferring real estate assets, it is the responsibility of the paralegal to prepare the Report of Sale of Land at Private Sale Under Order forSale.
10.If an estate includes digital assets and the decedent has left instructions on how to access those assets, the personal representative may still be precluded from doing so because of state and/or federallaw.
11.The personal representative may personally profit from estatetransactions.
MULTIPLE CHOICE
1.The probate court has the power and authority to do all of the followingEXCEPT:
a.Determine and verify the statutory rights of aspouse
b.Create a will if noneexists
c.Supervise the guardianship of minors
d.Establish the validity of a will and appoint a personalrepresentative
2.Estate administration may NOT be needed if:
a.There is property in registeredform
b.The decedent has individually owned property in the possession of a thirdparty
c.There are outstanding creditors’claims
d.An estate is classified as a smallestate
3.When settling a small estate, Collection by Affidavit is generally allowed in all of the following situationsEXCEPT:
a.When two days have passed since the death of thedecedent
b.When the value of the entire estate does not exceed the state’s maximumlimit
c.When the claiming beneficiary is legally entitled to inherit the decedent’sestate
d.When no application or petition for the appointment of a personal representative is pending or has beengranted
4.The primary purpose of the Uniform Probate Code (UPC) isto:
a.Make estate administration moreexpensive
b.Increase the time required to administer an estate
c.Provide an alternate system that establishes uniformlaw
d.Make the laws more complex so that administration is more involved
5.Which is NOT a way that the paralegal assists the personalrepresentative?
a.Petitioning for probate when no willexists
b.Arranging for publication of the Notice of Order for Hearing and Affidavit of Mailing Notice to all interested persons
c.Identifying and reviewing objections and arranging for the appearance ofwitnesses
d.Mailing a notice of rights to the spouse and minorchildren
6.To establish jurisdiction, the petition to prove a will must generallyinclude:
a.The decedent’s place of birth
b.The estimated value of the real and personal nonprobate assets
c.The amount of debts paid prior to the death of thedecedent
d.The originalwill
7.When petitioning for administration when no will exists, which of the following is a duty of the paralegal?
a.Ensuring that the petition and death certificate arefiled
b.Filing the Affidavit of Publication
c.Collecting all information needed to complete and execute the petition for probate ofwill
d.Arranging for witnesses to appear in court to testify on behalf of thetestator
8.Checks from the estate checking account do all of the followingEXCEPT:
a.Act as creditors’ admissions ofpayment
b.Establish a record of all payments and distributions
c.Serve as evidence and verification of payment of taxes
d.Act as a credit account until estate funds arereleased
9.Which procedure occurs during the final account and closing of the estatephase?
a.The hearing on creditors’ claims and payment of allowed or approvedclaims
b.The computation and filing of a state inheritance tax return orwaiver
c.The opening of the safe depositbox
d.Notice to creditors
10.Which will NOT be issued by the court during the special administrationprocess?
a.Inventory and Appraisal of the personal property of thedecedent
b.Order Approving the Final Account and Report of the SpecialAdministrator
c.Letters of Special Administration
d. Order Granting Special Administration