The Probate Process, Powers of Appointment

Question 1

What types of property are probate vs non-probate?

Answer 1

1. Probate = property passed by will or intestate

2. Non-probate = other instrument transfers - (a) deed, (b) trust, (c) joint tenancy, (d) POD contract

Question 2

What is the job of the personal representative?

Answer 2

1. Inventory + appraise estate
2. Locate interested parties + creditors
3. Satisfy debts
4. Close the estate

Question 3

What are duties owed by personal representative?

Answer 3

1. Duty of Loyalty - no self dealing

2. Duty of Care

Question 4

What is the general power of appointment?

Answer 4

1. No conditions / restrictions on donee power
2. Donee can appoint itself or creditors as owner
3. Donee fail exercise power, property revert back to estate

Question 5

What is the special power of appointment?

Answer 5

1. Donor specify certain individuals / groups as objects of power
2. Donor limits donee’s power

Question 6

What makes a power of attorney valid?

Answer 6

1. Power in writing
2. Signed
3. Dated

Question 7

What are the types of powers of attorney?

Answer 7

1. General - affairs during incapacitation
2. Special - limited to specific matters
3. Advance Health Care Directives - (a) Living Will - enforce individual’s wishes regarding medical treatment, (b) Durable - make decisions for individual when incapacitated