Planning for Incapacity

Question 1

clauses providing for

BURAL/FUNERAL ARRANGEMENTS

Answer 1

not binding but are very persuasive

Question 2

clauses providing for

CUSTODY OF CHILDREN

Answer 2

not binding but are persuasive

Question 3

use of trust

CUSTODY OF CHILDREN

Answer 3

trust may be used for the children’s financial security

Question 4

clause regarding

ORGAN DONATION

Answer 4

majority = an organ donation clause is included in the Health Care Directive/Power of Attorney (TN)

Question 5

3 considerations

NON-FINANCIAL ESTATE PLANNING CONSIDERATIONS

Answer 5

1. burial or other arrangements
2. custody of children
3. organ donation

Question 6

3 topics

PLANNING FOR INCAPACITY

Answer 6

1. non-financial estate planning considerations
2. documents
3. TN general durable power of attorney

Question 7

3 types

DOCUMENTS

Answer 7

1. Living Will
2. Health Care Directive/Power of Attorney/Advance Care Plan (TN)
3. (Financial) Durable Power of Attorney

Question 8

gifts

TN GENERAL DURABLE POWER OF ATTORNEY

Answer 8

does not authorize attorney-in-fact to make gifts

Question 9

principle

TN GENERAL DURABLE POWER OF ATTORNEY

Answer 9

settlor's powers w/ respect to 
a. revocation, 
b. amendment, or 
c. distribution of trust property 
may be exercised by an agent under a power of attorney ONLY to the extent expressly authorized by the terms of the trust or the power

Question 10

applicable law

EXAM INSTRUCTIONS

Answer 10

1. wills = tn (compare to UTC)
   intestacy = tn (compare to UTC)
2. trusts = UTC (or majority if UTC silent)
3. non-probate transfers = majority
4. powers of appointment = majority
5. uniform prudent investment act = adopted by tn
6. uniform principle and income act = adopted by tn