American College Exam HS330 Topic 1 Question 1 Discussion

Actual exam question for American College's HS330 exam

Question #: 1
Topic #: 1

A married man has two adult sons. His entire estate is in excess of $1,500,000 and consists entirely of probate assets. He wants to make certain that if he predeceases his wife she will receive all estate income as long as she lives, and the assets remaining at her death will pass equally to their two sons. He wants to pass all assets to this wife and sons as free of federal estate taxes as possible. To best accomplish these objectives, the man should include which of the following estate plans in his will?

AEstablish a QTIP trust for half his estate and bequeath the remainder to his wife

BEstablish a marital deduction trust with a general power of appointment for half his estate and place the remainder in a QTIP trust

CEstablish a bypass trust equal to the applicable exclusion amount and place the remainder of his estate in a QTIP trust

DEstablish a QTIP trust for his entire estate

Show Suggested Answer

Suggested Answer: C

by Deeanna at May 04, 2022, 02:37 PM

Limited Time Offer

25%

Off

Get Premium HS330 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Currently there are no comments in this discussion, be the first to comment!