Question 1

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a. Increases the probate estate
b. Decreases the probate estate
c. Has no effect on the probate estate
-Made life insurance payable to estate.

Accepted Answer

The answer of Match each statement with the correct choice....

Question 2

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a. Increases the probate estate
b. Decreases the probate estate
c. Has no effect on the probate estate
-Created during life an irrevocable trust naming others as beneficiaries.

Accepted Answer

The answer of Match each statement with the correct choice....

Question 3

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a. Increases the probate estate
b. Decreases the probate estate
c. Has no effect on the probate estate
-Two years prior to her death, the insured transferred by gift all of the incidents of ownership in an insurance policy on her life. The gift was to her son, the beneficiary of the policy.

Accepted Answer

The answer of Match each statement with the correct choice....

Question 4

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a. Increases the probate estate
b. Decreases the probate estate
c. Has no effect on the probate estate
-Established a joint tenancy with right of survivorship.

Accepted Answer

The answer of Match each statement with the correct choice....

Question 5

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a. Increases the probate estate
b. Decreases the probate estate
c. Has no effect on the probate estate
-Purchased a certificate of deposit listing daughter as the beneficiary under a payable on death designation.

Accepted Answer

The answer of Match each statement with the correct choice....

Question 6

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a. Increases the probate estate
b. Decreases the probate estate
c. Has no effect on the probate estate
-Sold out-of-state realty.

Accepted Answer

The answer of Match each statement with the correct choice....

Question 7

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a. Increases the probate estate
b. Decreases the probate estate
c. Has no effect on the probate estate
-Paid a gift tax on a gift made two years prior to death of the donor.

Accepted Answer

The answer of Match each statement with the correct choice....

Question 8

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a. Increases the probate estate
b. Decreases the probate estate
c. Has no effect on the probate estate
-Made lifetime gifts.

Accepted Answer

The answer of Match each statement with the correct choice....

Quiz 19: Family Tax Planning

Match each statement with the correct choice. Some choices may be used more than once or not used at all. a. Increases the probate estate b. Decreases the probate estate c. Has no effect on the probate estate -Made life insurance payable to estate.

Match each statement with the correct choice. Some choices may be used more than once or not used at all. a. Increases the probate estate b. Decreases the probate estate c. Has no effect on the probate estate -Created during life an irrevocable trust naming others as beneficiaries.

Match each statement with the correct choice. Some choices may be used more than once or not used at all. a. Increases the probate estate b. Decreases the probate estate c. Has no effect on the probate estate -Established a joint tenancy with right of survivorship.

Match each statement with the correct choice. Some choices may be used more than once or not used at all. a. Increases the probate estate b. Decreases the probate estate c. Has no effect on the probate estate -Sold out-of-state realty.

Match each statement with the correct choice. Some choices may be used more than once or not used at all. a. Increases the probate estate b. Decreases the probate estate c. Has no effect on the probate estate -Paid a gift tax on a gift made two years prior to death of the donor.

Match each statement with the correct choice. Some choices may be used more than once or not used at all. a. Increases the probate estate b. Decreases the probate estate c. Has no effect on the probate estate -Made lifetime gifts.