Paralegal Advanced Competency Exam (PACE) Practice Exam

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Study for the Paralegal Advanced Competency Exam (PACE). Utilize flashcards and multiple-choice questions designed to enhance your knowledge of paralegal standards and competencies. Prepare effectively and increase your chances of passing!

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What is the purpose of ancillary probate?

To finalize all financial matters of an estate
To handle probate matters in a different state from the deceased's residence
To manage the distribution of a corporation's assets
To establish a trust for the deceased’s heirs

The correct answer is: To handle probate matters in a different state from the deceased's residence

The purpose of ancillary probate is to handle probate matters in a different state from where the deceased resided. This situation arises when a deceased person owns property in a state other than their primary residence. In such cases, ancillary probate proceedings are required to ensure that the laws of the state where the property is located are followed and that the property can be legally transferred to the heirs or beneficiaries. Ancillary probate allows the estate to be settled in two jurisdictions: the primary probate in the state of residence and the ancillary probate in the state where the additional property exists. This process helps prevent potential complications related to property ownership and ensures that the decedent's wishes, as expressed in their will, are honored in all locations where their assets are held.