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Unit 1 Quiz

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1. Tom is in a serious car accident and is unconscious in the ICU. Doctors expect him to make a full recovery, but decisions need to be made about his treatment in the meantime. Which document governs who makes those decisions?
Medical power of attorney Living will Durable general power of attorney Last will and testament
2. Mark is listing medical decision-makers on his documents. He is married with three adult children, two siblings, and several close friends. His previous attorney suggests keeping the list short — just his wife and one child. Based on the course, what is the better approach?
Keep it short as the attorney suggests — too many people creates confusion. Be more expansive and include anyone who would rally around him during a medical event, so they can access him and communicate with medical professionals. Only list blood relatives, as hospitals won't recognize friends. List only his spouse, since she is the only one legally allowed to make decisions.
3. Janet has a revocable trust, but she recently refinanced her home and forgot to put the house back into the trust. She then suffers a stroke and cannot manage her affairs. Which document can her designated agent use to transfer the house back into the trust?
Living will Last will and testament Durable general power of attorney Medical power of attorney
4. Why does Durfee Law Group generally prefer that a durable general power of attorney function as a "bearer document" rather than a "springing" power of attorney?
A bearer document is less expensive to prepare A bearer document automatically expires after a set period of time A springing power often requires proving incapacity, which can lead to delays, court involvement, and added expense A springing power of attorney is not recognized in most states
5. Durfee Law Group keeps the original of a client's durable general power of attorney in their fireproof safe. A client's son calls and says his mother is in the hospital and he needs the document immediately. What does the firm do?
Immediately release the document to the son since he is family. Refuse to release the document under any circumstances. Investigate the situation — contact the client if possible, verify the claim, and release the document only if one of the four release conditions is met. Require the son to obtain a court order before releasing it.
6. David and Karen are creating their estate plan. They have two young children. Karen wants to call her sister immediately to tell her she's been named as guardian for the children. Based on the course, what advice would the attorney give?
Absolutely — it's required by law to notify the named guardian. It's often better not to tell the named individuals, because preferences may change over time and you want the freedom to update your choices without worrying about hurting feelings. You must get written consent from anyone named as guardian before the will is valid. You should tell everyone on the list and get their agreement in writing.
7. What are the four basic estate planning documents that everyone over the age of 18 needs?
Living will, medical power of attorney, durable general power of attorney, and a trust Living will, durable general power of attorney, a will, and a beneficiary designation Medical power of attorney, durable general power of attorney, a will, and a trust Living will, medical power of attorney, durable general power of attorney, and a will
8. What is the key difference between a living will and a medical power of attorney?
A living will covers financial decisions, while a medical power of attorney covers medical decisions A living will applies to end-of-life situations, while a medical power of attorney applies to situations where the person is expected to recover A living will names guardians for minor children, while a medical power of attorney does not There is no difference; they serve the same purpose
9. What is the primary purpose of the will in an estate plan that includes a trust?
To distribute all assets directly to beneficiaries To replace the trust if it becomes invalid To "pour over" any assets not already in the trust into the trust, and to name guardians for minor or incapacitated children To avoid probate entirely
10. Which of the following is NOT one of the four conditions under which the firm will release an original durable general power of attorney from safekeeping?
The client requests its release in writing The client's physician and two other physicians confirm incapacity in writing A family member provides a verbal request over the phone The client has been missing and cannot be found for 30 days