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When performing estate planning, which member of the team is responsible for creating all of the legal documents?
What term is used to describe a condition of a person who dies without having made a valid will or other binding declaration?
Which individual is a person or institution appointed by a testator to carry out the terms of their will?
What is the term for the judicial process whereby a will is “proved” in a court of law and accepted as a valid public document that is the true last testament of the deceased?
Which of the following is a property arrangement where each joint tenant has an equal, undivided interest in the entire asset?
Payable on death accounts are commonly referred to as which of the following?
Which of the following trusts are revocable trusts?
A pour-over will is used to place all assets into which of the following trusts?
After December 31, 2017, the taxable income of a trust worth $25,000 is $3,011.50 plus what percent of the excess income?
Which of the following is not an essential clause for a revocable living trust?
Which clause in the revocable living trust identifies all property housed in the trust?
What is the maximum length of time that a trust can last?
In 2018, what is the amount of the lifetime exclusion, indexed for inflation?
What type of trust reduces taxable income by first dispersing income to the beneficiaries and then donating the remaining funds to charity?
What type of trust is used to minimize taxes on large financial gifts to family members?