G.56 Estate and Incapacity Planning Documents

Question 1

A person appointed by the court to manage and distribute the estate of a deceased person who left no will.

Think of it as the manager stepping in when there’s no plan in place

Answer 1

Administrator

G.56 Estate and Incapacity Planning Documents

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Question 2

A legal document in which a person specifies what actions should be taken for their health if they are no longer able to make decisions due to illness or incapacity.

your health decisions playbook when you can’t call the plays yourself

Answer 2

Advance Medical Directive / Living Will

G.56 Estate and Incapacity Planning Documents

Question 3

A probate proceeding conducted in a different state from where the deceased person was domiciled, typically for property located in that other state.

It’s probate, but for out-of-state assets

Answer 3

Ancillary Probate

G.56 Estate and Incapacity Planning Documents

Question 4

A provision in a will that names the individual(s) designated to execute the terms of the will.

The assignment as “team captain” for estate execution

Answer 4

Appointment of Executor Clause

G.56 Estate and Incapacity Planning Documents

Question 5

A clause in a will where the witnesses certify that the will was executed properly.

Witnesses signing off that everything looks good

Answer 5

Attestation Clause

G.56 Estate and Incapacity Planning Documents

Question 6

A person designated to act for another under a power of attorney.

Anyone you choose to act on your behalf

Answer 6

Attorney in Fact

G.56 Estate and Incapacity Planning Documents

Question 7

A provision in a will that outlines the specific distribution of personal property.

Dictating who gets what personal items

Answer 7

Bequest Clause

G.56 Estate and Incapacity Planning Documents

Question 8

An amendment to a will that modifies, explains, or revokes a provision in the existing will.

A will’s update or patch.

Answer 8

Codicil

G.56 Estate and Incapacity Planning Documents

Question 9

A provision in a will that specifies an alternative beneficiary if the primary beneficiary cannot inherit.

The backup plan for your bequests

Answer 9

Contingent Legatee Clause

G.56 Estate and Incapacity Planning Documents

Question 10

A person who receives real estate from a will.

Inheritors of land or buildings.

Answer 10

Devisee

G.56 Estate and Incapacity Planning Documents

Question 11

A provision in a will allowing a beneficiary to refuse inheritance to allow it to pass to the next beneficiary without gift tax consequences.

The “no thanks, pass it on” option

Answer 11

Disclaimer Clause

G.56 Estate and Incapacity Planning Documents

Question 12

The place where a person has their permanent primary residence to which they intend to return.

It’s your main home base, legally speaking

Answer 12

Domicile

G.56 Estate and Incapacity Planning Documents

Question 13

A legal document that grants another person the authority to make health care or property decisions on one’s behalf and remains effective if the grantor becomes incapacitated.

A failsafe for managing your health or assets if you can’t.

Answer 13

Durable Power of Attorney Issued Either for Health Care or for Property

G.56 Estate and Incapacity Planning Documents

Question 14

The process by which a deceased person’s property becomes state property if no eligible heirs or beneficiaries are found.

when there’s no one left on the inheritance list

Answer 14

Escheat

G.56 Estate and Incapacity Planning Documents

Question 15

The person named in a will to manage the estate, ensuring that the will’s provisions are carried out.

The estate’s chief operating officer, as designated in the will

Answer 15

Executor

G.56 Estate and Incapacity Planning Documents

Question 16

A legal statute that prevents an individual from inheriting from someone they are convicted of unlawfully killing.

If you do the crime, you won’t get the dime.

Answer 16

Felonious Homicide Statute

G.56 Estate and Incapacity Planning Documents

Question 17

A legal rule in some jurisdictions that a portion of a deceased’s estate must go to certain family members, regardless of the will’s contents.

the law’s way of ensuring the closest kin get a share, no matter what.

Answer 17

Forced Heirship

G.56 Estate and Incapacity Planning Documents

Question 18

A provision in a will that appoints a guardian for minor children or dependents.

Naming the caretaker for those who need it

Answer 18

Guardianship Clause

G.56 Estate and Incapacity Planning Documents

Question 19

Individuals entitled by law to inherit part or all of an estate, typically when there is no will.

he default lineup for inheritance when there’s no will.

Answer 19

Heirs

G.56 Estate and Incapacity Planning Documents

Question 20

A will entirely handwritten and signed by the testator, typically not witnessed.

A DIY will, all in the writer’s handwriting

Answer 20

Holographic Will

G.56 Estate and Incapacity Planning Documents

Question 21

The condition of dying without a valid will, which results in the estate being distributed according to state laws.

No will? The state has a plan.

Answer 21

Intestacy

G.56 Estate and Incapacity Planning Documents

Question 22

The opening section of a will that identifies the testator and their intent to make the will.

The “Hello, this is my will” part.

Answer 22

Introductory Clause

G.56 Estate and Incapacity Planning Documents

Question 23

A single will that is created by two or more people, typically spouses, that is mutual and binding on all parties.

Often by married couples.

Answer 23

Joint Will

G.56 Estate and Incapacity Planning Documents

Question 24

A person who inherits personal property under a will.

They get the stuff that’s not land

Answer 24

Legatee

G.56 Estate and Incapacity Planning Documents

Question 25

Wills made by two or more parties that agree to confer their property in a particular manner and typically cannot be revoked or amended without the others’ consent.

t’s a will pact

Answer 25

Mutual Will

G.56 Estate and Incapacity Planning Documents

Question 26

A clause in a will that threatens to disinherit any beneficiary who challenges the will’s validity.

Challenge the will, and you might get nothing.

Answer 26

No-Contest Clause

G.56 Estate and Incapacity Planning Documents

Question 27

An oral will, usually made on the testator’s deathbed, witnessed by others, and intended for situations where making a written will isn’t possible.

Last words as a will, often in emergency situations.

Answer 27

Nuncupative Will

G.56 Estate and Incapacity Planning Documents

Question 28

This term is not specifically related to estate planning but generally refers to someone having qualifications exceeding what is necessary for a role or task.

More skills or credentials than the job requires

Answer 28

Overqualified

G.56 Estate and Incapacity Planning Documents

Question 29

A way of distributing an estate where each living descendant at the same generation level receives an equal share.

Equal shares for everyone at the same generation level.

Answer 29

Per Capita

G.56 Estate and Incapacity Planning Documents

Question 30

A method of distributing an estate where if any beneficiary at one generation predeceases the testator, their share is divided equally among the heirs of the next generation.

Shares passed down and split equally among the next generation

Answer 30

Per Capita at each generation

G.56 Estate and Incapacity Planning Documents

Question 31

An estate distribution method where descendants inherit an equal share of an estate portion that their deceased ancestor would have received if alive.

Your slice of the pie goes to your kids if you’re dead

Answer 31

Per Stirpes

G.56 Estate and Incapacity Planning Documents

Question 32

A medical order indicating a patient’s preferences regarding treatments commonly used in a medical crisis.

Doctor’s orders for how you want to be treated in critical situations.

Answer 32

Physician Orders for Life Sustaining Treatment (POLST)

G.56 Estate and Incapacity Planning Documents

Question 33

A legal document authorizing one person to act on another’s behalf in legal or financial matters.

fGiving control to someone else. Usually financial or legal

Answer 33

Power of Attorney

G.56 Estate and Incapacity Planning Documents

Question 34

A specific type of power of attorney that grants someone authority to handle property and financial matters.

Focused on managing your property or financial assets

Answer 34

Power of Attorney for Property

G.56 Estate and Incapacity Planning Documents

Question 35

The person who grants authority to an agent through a power of attorney.

The one in charge, giving others the power to act

Answer 35

Principal

G.56 Estate and Incapacity Planning Documents

Question 36

Wills made by two people, typically spouses, in which they make similar or identical provisions in favor of each other.

A will where two people basically mirror each other’s wishes.

Answer 36

Reciprocal Will

G.56 Estate and Incapacity Planning Documents

Question 37

A provision in a will that disposes of any assets not specifically mentioned elsewhere in the will.

The catch-all for everything else not already given away

Answer 37

Residuary Clause

G.56 Estate and Incapacity Planning Documents

Question 38

A part of a will that includes a sworn statement by the witnesses, making it unnecessary to call those witnesses to confirm the will’s validity during probate.

Pre-approved by witnesses to streamline probate

Answer 38

Self-Proving Clause

G.56 Estate and Incapacity Planning Documents

Question 39

A non-legally binding document that accompanies a will, providing additional instructions, wishes, or information to the executor.

Extra notes to the executor that aren’t part of the official will

Answer 39

Side Instruction Letter

G.56 Estate and Incapacity Planning Documents