Will Jones has created a will that leaves everything to his wife except an exemption amount of $2 million.This exemption amount passes into a trust.What type of will has Will created?

Question

Quizplus · Accepted Answer

Will has created an exemption trust, which is a type of will that leaves an exemption amount, currently $11.7 million, to a trust rather than to the surviving spouse. This allows for tax planning and the preservation of the exemption amount for future generations.

Will Jones Has Created a Will That Leaves Everything to His