Tenancy in common is a form of property ownership that - will require probate upon the death of a
tenant.
An investment professional who is not an attorney is engaged in the unauthorized practice of law when
he or she counsels a client regarding the - validity of a living will.
All of the following assets would be included in a decedent's gross estate except - the decedent's vested
interest in a single life annuity on the decedent's life.
A tax disadvantage of making a lifetime gift rather than a transfer at death is that - the gift tax exclusion
amount is not portable between spouses, but the estate tax exclusion amount is portable.
Which one of the following statements about the marital deduction is false? - The limit on the marital
deduction for gift tax is lower than the limit for the estate tax marital deduction.
A Crummey power is - a type of power of appointment.
A custodial account for a minor is - required to terminate when the minor reaches the age of majority as
specified by state law.
All of the following assets in a decedent's estate require probate except - the decedent's interest in
property held in joint tenancy with right of survivorship that the decedent left to his son in his will.
If a decedent dies intestate, - her property that does not pass by will substitute will be distributed
according to her state's intestate succession statute.
A contingent (standby) trust - is funded at some point in time after it is initially established.
The contingent trust is funded if, and only if, the grantor becomes incompetent, which may be many
months or years after it is established.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller VasilyKichigin. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.98. You're not tied to anything after your purchase.
