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| Section | Objectives |
|---|---|
| Financial Planning Strategies | - Financial Planning Strategies
|
| Tax Laws | - Tax Laws
|
| Estate Planning Concepts | - Estate Planning Concepts
|
| Legal Principles | - Legal Principles
|
All the following powers held by the grantor of an irrevocable trust will cause the trust assets to be brought back into the estate of the grantor EXCEPT the power to
Correct Answer: D 🗳️
All the following trust provisions avoid causing the inclusion of an irrevocable life insurance trust in an insured's gross estate EXCEPT
Correct Answer: A 🗳️
Which of the following statements concerning marital transfers to a non-U.S. citizen spouse is (are) correct?
1.A marital deduction is automatically available as long as property is transferred outright to the non-citizen spouse.
2.A marital deduction is automatically available if the transferor-decedent spouse is a U.S. citizen.
Correct Answer: A 🗳️
Which of the following statements concerning the inclusion in a decedent-employee's gross estate of a lump-sum distribution from a qualified retirement plan to a beneficiary other than the employee's estate is (are) correct?
1.Lump-sum distributions of payments attributable to the employer's contributions are excluded from the gross estate.
2.Lump-sum distributions of payments attributable to the decedent-employee's contributions are excluded from the gross estate.
Correct Answer: A 🗳️
All the following statements concerning the ownership of real property as joint tenants with right of survivorship are correct EXCEPT:
Correct Answer: C 🗳️
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