Power of attorney

A __ is a legal documemnt created by indiviudals to specify their preferences if they become mentally or physically disabled

a. Power of attorney

b. Living trustr

c. Codicil

d. Living will

  1. A _ trust, the grantor is no longer the owner of the assets in the trust disabled

a. Living

b. Revocable living

c. Irrovocable living

d. Non of the abovel

  1. Which of the following is not true regarding estate taxes?

a. They are dependent on the value of an estate

b. Any funds that are provided as a result of a life insurance policy are counted as part of the state for tax purposes

c. All the assets in an estae can be distributed tax-free to children or others

d. All of the above are truel

  1. Which of the following situaitons would NOT constitute a transfer that comes within the gift tax statues?

a. Robin creates a trust under the terms of which her daughter is to get income for life and her granddaughter the remainder at the daughter’s death.

b. Robbie purchases real propety and has the title conveyed to himslef an to his brother as joint tenants.

c. Randal creates an irrovocable trust giving inocme for life to his wife and providing that at her death the corpus is to be distributed to his son.

d. Ray purchases a U.S. savings bond made payable to himself and his wife, Raquel. Raquel cashes the bond to be used for her own benefit.

e. Rose creates a joint bank account for herself and her daugher. There have been no withdrawls from the account.

  1. A living trust is one in which the grantor creates an inter vivos trust that is funded with part of all of the grantor’s property.

a. True

b. False

  1. Which of the following transfers qualify for the unlimited marital deduction?

a. Outright bequest to resident alien spouse

b. Property passing to citizen spouse in QTIP

c. Income beneficiary of CRT is a nonresident alien spouse (trust is not a QDOT)

d. Outright bequest to resident spouse who, prior to the decedent’s death, was a noncitizen bu who after the decedent’s death and before the estate return was filed, became a U.S. citizen.

e. b and d

  1. The generation-skipping transfer tax (GSTT) is in addition to the unified gift and estate tax and is designed to tax large transfers tht skip a generation (i.e. from grandparent to grandchile). The purpose of the tax is to collect potentially lost tax dollars from the skipped generation. Which of the following transfers qualify for the unlimited marital deduction.

a. True

b. False

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our Guarantees

Money-back Guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism Guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision Policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy Policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation Guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more