Question #39 of 85 Question ID: 1251813 Samuel has a $5 million gross estate. His solely owned business is his major asset. All of his other assets are also solely owned. Samuel has never married, but does have two children. His financial advisor has suggested that Samuel title all of his assets in some form of will substitute to avoid the costs of probate, which are very high in Samuel 's state. Which of the following expenses could Samuel avoid by following his advisor's advice? A personal representative's fee The premium on a surety bond for the personal representative Appraisal fees to value estate assets Federal estate taxes
Question #39 of 85 Question ID: 1251813 Samuel has a $5 million gross estate. His solely owned business is his major asset. All of his other assets are also solely owned. Samuel has never married, but does have two children. His financial advisor has suggested that Samuel title all of his assets in some form of will substitute to avoid the costs of probate, which are very high in Samuel 's state. Which of the following expenses could Samuel avoid by following his advisor's advice? A personal representative's fee The premium on a surety bond for the personal representative Appraisal fees to value estate assets Federal estate taxes
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question #39 of 85
Question ID: 1251813
Samuel has a $5 million gross estate. His solely owned business is his major asset. All of his other assets are also solely owned. Samuel has never married, but does have two children. His financial advisor has suggested that Samuel title all of his assets in some form of will substitute to avoid the costs of probate, which are very high in Samuel 's state.
Which of the following expenses could Samuel avoid by following his advisor's advice?
- A personal representative's fee
- The premium on a surety bond for the personal representative
- Appraisal fees to value estate assets
- Federal estate taxes
A)
II and III
B)
I and IV
C)
I and II
D)
III and IV
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