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Flashcards in Planning for Incapacity Deck (10)
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1

clauses providing for
BURAL/FUNERAL ARRANGEMENTS

not binding but are very persuasive

2

clauses providing for
CUSTODY OF CHILDREN

not binding but are persuasive

3

use of trust
CUSTODY OF CHILDREN

trust may be used for the children's financial security

4

clause regarding
ORGAN DONATION

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

5

3 considerations
NON-FINANCIAL ESTATE PLANNING CONSIDERATIONS

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

6

3 topics
PLANNING FOR INCAPACITY

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

7

3 types
DOCUMENTS

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

8

gifts
TN GENERAL DURABLE POWER OF ATTORNEY

does not authorize attorney-in-fact to make gifts

9

principle
TN GENERAL DURABLE POWER OF ATTORNEY

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

10

applicable law
EXAM INSTRUCTIONS

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