Free American College HS330 Exam Questions

Which of the following are ways of passing property from a deceased spouse to a surviving spouse so that the properly will qualify for the federal estate tax marital deduction? I. When the surviving spouse receives the property by electing to take against the deceased spouse’s will ll. When the surviving spouse receives the property as a consequence of the qualified disclaimer of another beneficiary 

Having a will enables an individual to do which of the following? l. Make testamentary bequests to selected charitable organizations ll .Make specific bequests to selected friends 

All the following are conditions that must be met if an otherwise nonqualified terminable interest is to qualify (as QTIP) for the federal estate tax marital deduction EXCEPT:

A man recently died with only probate assets. Under the terms of his will, he left his entire probate estate out right to his wife. The following are relevant facts concerning the estate: Gross estate $2,400,000 Estate administration expenses 85,000 Debts of decedent 100,000 Allowable funeral expenses 10,000 The amount of the allowable marital deduction is 

A father is considering giving his daughter a gift. For tax planning purposes, the father should give his daughter which of the following?