Pfin (book Only)
6th Edition
ISBN: 9781337117029
Author: Billingsley, Randy; Joehnk, Michael D.; Gitman, Lawrence J.
Publisher: Cengage Learning
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Question
Chapter 15, Problem 3FPE
Summary Introduction
To explain: The qualifications and understanding required by an individual to perform as an executor of estate.
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Students have asked these similar questions
Which of the following techniques is commonly used in estate planning to minimize estate
taxes? A) Gifting assets to family members shortly before death B) Establishing a trust for
beneficiaries C) Transferring assets into a taxable brokerage account D) Not creating a will or
estate plan
Under what circumstance does an estate have an executor?
Multiple Choice
When there is no valid will.
When the estate exceeds the dollar amount of the estate tax exemption.
When the will establishes a trust fund.
When the will is contested.
When the will names a specific person to administer the estate.
Simon and Diana have asked Simon's brother Jeff to look after their estate administration in the event of their passing. What is the title that would apply to Jeff if they both pass before their Will(s) are signed and witnesses?
1)
Executor
2)
Administrator
3)
Attorney
4)
Guardian
Knowledge Booster
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