Paralegal Knowledge Exam - Estate Planning & Probate Questions with Correct Answers
Estate Planning - Answers A process in which a property owner decides, before death, how their
property will be transferred to others.
Probate - Answers The process of proving the validity of a will and ensuring that the instructions
in a valid will are carried out.
Will - Answers A set of instructions made by a person regarding how to divide or otherwise
dispose of their property in the event of their death. It must be in writing (with some exceptions),
witnessed by a specified number of persons (usually at least two), have a viable beneficiary, and
in some states be published in order to be considered valid.
Testator - Answers The person who makes a valid will. They must be of sound mind and sign
the will for it to be considered valid
Intestate - Answers If a person dies without making a valid will, they are considered this, and
their property is distributed under state statutes, which means their property may go to the state
depending on which one their property was in.
Executor - Answers The personal representative named in a will to settle the affairs of the
decedent.
Decedent - Answers Deceased, used in estate law.
Beneficiary - Answers A person benefitting from the terms of a will as they are receiving
property from it.
Holographic Will - Answers A handwritten will. If it can be proven that the testator wrote the will,
some of the provisions of witnessing it can be waived.
Testamentary Capacity - Answers The ability to understand and make decisions about one's
estate. Generally assumed to exist unless evidence shows otherwise. Infants and mentally
incompetent individuals are said to lack this.
Infant - Answers Under the law, a person under 18, and thus barred from entering any legal
arrangements.
Codicil - Answers A written modification of an existing will, usually created as a result of
changes in the family's circumstances. Holds the same formality requirements as the will itself.
Escheat - Answers The process of transferring the title of property to the local government, in
the event of there being no will and no available heirs.
Trust - Answers An arrangement in which property is transferred from one person to be
administered by another for the benefit of a beneficiary.
Estate Planning - Answers A process in which a property owner decides, before death, how their
property will be transferred to others.
Probate - Answers The process of proving the validity of a will and ensuring that the instructions
in a valid will are carried out.
Will - Answers A set of instructions made by a person regarding how to divide or otherwise
dispose of their property in the event of their death. It must be in writing (with some exceptions),
witnessed by a specified number of persons (usually at least two), have a viable beneficiary, and
in some states be published in order to be considered valid.
Testator - Answers The person who makes a valid will. They must be of sound mind and sign
the will for it to be considered valid
Intestate - Answers If a person dies without making a valid will, they are considered this, and
their property is distributed under state statutes, which means their property may go to the state
depending on which one their property was in.
Executor - Answers The personal representative named in a will to settle the affairs of the
decedent.
Decedent - Answers Deceased, used in estate law.
Beneficiary - Answers A person benefitting from the terms of a will as they are receiving
property from it.
Holographic Will - Answers A handwritten will. If it can be proven that the testator wrote the will,
some of the provisions of witnessing it can be waived.
Testamentary Capacity - Answers The ability to understand and make decisions about one's
estate. Generally assumed to exist unless evidence shows otherwise. Infants and mentally
incompetent individuals are said to lack this.
Infant - Answers Under the law, a person under 18, and thus barred from entering any legal
arrangements.
Codicil - Answers A written modification of an existing will, usually created as a result of
changes in the family's circumstances. Holds the same formality requirements as the will itself.
Escheat - Answers The process of transferring the title of property to the local government, in
the event of there being no will and no available heirs.
Trust - Answers An arrangement in which property is transferred from one person to be
administered by another for the benefit of a beneficiary.
