Ch 14

Question 1

Which of the following is not a common estate planning goal?

Answer 1

Maximizing the gross estate

Question 2

As a financial planner you are preparing for a meeting with your new client Connor. What should you be most likely to ask Connot to bring to the meeting?

Answer 2

Any will and trust documents

Question 3

A life insurance policy failing to pay a beneficiary is…

Answer 3

Not a risk of failing to plan an estate

Question 4

Which of the following activities would be considered the unauthorized practice of law for a non licensed attorney?

Answer 4

Preparing a last will and testament for a client

Question 5

Attorneys, CPA’s and financial planners are…

Answer 5

Qualified to give estate planning advice

Question 6

Estate planning is an important aspect of…3

Answer 6

1 probate and succession

2 financial planning

3 retirement planning

Question 7

A plan for managing property during ones lifetime and at ones death is…

Answer 7

A good definition of estate planning

Question 8

Property taxes on inherited property are…

Answer 8

Not transfer costs associated with estate planning