Estate Planning Essentials

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Test your estate planning know-how.

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Nik Aisyah

Malasia

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Froggy Jumps Estate Planning EssentialsVersión en línea Test your estate planning know-how. por Nik Aisyah 1 What is the primary purpose of a revocable living trust? a To reduce income taxes b To permanently transfer ownership upon signing c To avoid probate for assets funded into the trust 2 Which document appoints someone to manage your affairs if you become unable? a Beneficiary designation b Durable power of attorney c Will 3 What does 'intestacy' mean in estate planning terms? a Dying without a valid will b A type of beneficiary designation c A trust statement 4 What is a pour-over will designed to do? a Create a new irrevocable trust b Reduce income taxes owed c Transfer assets to a trust upon death 5 Which tax is directly associated with lifetime gifts up to the annual exclusion? a Income tax b Gift tax c Estate tax 6 Who is the fiduciary responsible for settling the estate? a Beneficiary b Trustee c Executor (personal representative) 7 What does the marital deduction in estate planning refer to? a A tax on gifts to non-spouses b A deduction for assets left to a spouse c An exemption for charitable gifts 8 Which type of trust cannot be easily changed once created? a Irrevocable trust b Living trust c Revocable trust 9 Which document designates guardians for minor children? a Guardian provision in a will b Durable power of attorney c Beneficiary designation 10 Which arrangement helps assets pass to a co-owner without probate? a Beneficiary designation b Joint tenancy with right of survivorship c Community property

Froggy Jumps

Estate Planning EssentialsVersión en línea

Test your estate planning know-how.

por Nik Aisyah

What is the primary purpose of a revocable living trust?

To reduce income taxes

To permanently transfer ownership upon signing

To avoid probate for assets funded into the trust

Which document appoints someone to manage your affairs if you become unable?

Beneficiary designation

Durable power of attorney

Will

What does 'intestacy' mean in estate planning terms?

Dying without a valid will

A type of beneficiary designation

A trust statement

What is a pour-over will designed to do?

Create a new irrevocable trust

Reduce income taxes owed

Transfer assets to a trust upon death

Which tax is directly associated with lifetime gifts up to the annual exclusion?

Income tax

Gift tax

Estate tax

Who is the fiduciary responsible for settling the estate?

Beneficiary

Trustee

Executor (personal representative)

What does the marital deduction in estate planning refer to?

A tax on gifts to non-spouses

A deduction for assets left to a spouse

An exemption for charitable gifts

Which type of trust cannot be easily changed once created?

Irrevocable trust

Living trust

Revocable trust

Which document designates guardians for minor children?

Guardian provision in a will

Durable power of attorney

Beneficiary designation

Which arrangement helps assets pass to a co-owner without probate?

Beneficiary designation

Joint tenancy with right of survivorship

Community property

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Estate Planning Essentials

Froggy Jumps

Sobre esta actividad

Creada por

Descarga la versión para jugar en papel

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Froggy Jumps

Estate Planning EssentialsVersión en línea

por Nik Aisyah

What is the primary purpose of a revocable living trust?

Which document appoints someone to manage your affairs if you become unable?

What does 'intestacy' mean in estate planning terms?

What is a pour-over will designed to do?

Which tax is directly associated with lifetime gifts up to the annual exclusion?

Who is the fiduciary responsible for settling the estate?

What does the marital deduction in estate planning refer to?

Which type of trust cannot be easily changed once created?

Which document designates guardians for minor children?

Which arrangement helps assets pass to a co-owner without probate?

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